HudBay Minerals Inc (NYSE:HBM) Stock Has Consensus Target Price of $31.33 According to Analysts

HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) has earned an average recommendation of “Moderate Buy” from the twelve research firms that are currently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 1-year price target among analysts that have covered the stock in the last year is $31.33.

HBM has been the topic of several research analyst reports. Scotiabank reaffirmed an “outperform” rating on shares of HudBay Minerals in a research report on Thursday, July 30th. Wall Street Zen downgraded HudBay Minerals from a “buy” rating to a “hold” rating in a research report on Sunday, October 25th. Bank of America decreased their target price on HudBay Minerals from $33.50 to $29.50 and set a “buy” rating for the company in a research report on Thursday, July 9th. Weiss Ratings raised shares of HudBay Minerals from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, October 8th. Finally, Citigroup restated a “positive” rating on shares of HudBay Minerals in a report on Wednesday, July 15th.

Institutional Investors Weigh In On HudBay Minerals

Several large investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada grew its stake in HudBay Minerals by 7.8% during the 1st quarter. Royal Bank of Canada now owns 8,254,831 shares of the mining company’s stock valued at $172,526,000 after purchasing an additional 597,422 shares during the last quarter. Wellington Management Group LLP acquired a new position in shares of HudBay Minerals in the second quarter valued at about $130,557,000. William Blair Investment Management LLC acquired a new position in shares of HudBay Minerals in the second quarter valued at about $99,536,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of HudBay Minerals in the second quarter worth about $99,022,000. Finally, Bank of America Corp DE purchased a new position in shares of HudBay Minerals in the second quarter worth about $96,341,000. 57.82% of the stock is owned by hedge funds and other institutional investors.

HudBay Minerals Trading Up 3.6%

Shares of NYSE HBM opened at $22.22 on Friday. HudBay Minerals has a fifty-two week low of $14.34 and a fifty-two week high of $32.15. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.93 and a current ratio of 2.24. The company has a market cap of $9.87 billion, a price-to-earnings ratio of 13.07, a PEG ratio of 0.39 and a beta of 1.62. The business’s 50 day moving average price is $25.73 and its 200-day moving average price is $24.83.

About HudBay Minerals

Hudbay Minerals Inc is a Canadian mining company focused primarily on the exploration, development, and operation of copper, gold, zinc, and silver deposits. Copper is its principal product, with associated precious and base metals produced from several of its operations.

The company operates in Canada, Peru, and the United States. Its assets include the Constancia copper-molybdenum mine in southern Peru; the Snow Lake operations in Manitoba, which produce copper, gold, zinc, and silver; and the Copper Mountain mine in British Columbia.