Analysts Set Hudbay Minerals Inc. (NYSE:HBM) Price Target at $11.17

Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) has been assigned a consensus recommendation of “Buy” from the six research firms that are currently covering the company, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $11.17.

Separately, StockNews.com upgraded Hudbay Minerals from a “hold” rating to a “buy” rating in a research note on Friday, November 15th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in HBM. Mountaineer Partners Management LLC boosted its stake in Hudbay Minerals by 792.5% during the third quarter. Mountaineer Partners Management LLC now owns 10,323,605 shares of the mining company’s stock valued at $94,874,000 after buying an additional 9,166,952 shares in the last quarter. Bank of Montreal Can lifted its holdings in Hudbay Minerals by 23.1% in the 3rd quarter. Bank of Montreal Can now owns 7,691,519 shares of the mining company’s stock valued at $71,308,000 after acquiring an additional 1,441,991 shares during the last quarter. Donald Smith & CO. Inc. boosted its position in shares of Hudbay Minerals by 31.9% during the 3rd quarter. Donald Smith & CO. Inc. now owns 3,748,780 shares of the mining company’s stock valued at $34,451,000 after purchasing an additional 906,417 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Hudbay Minerals by 24.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,545,340 shares of the mining company’s stock worth $32,084,000 after purchasing an additional 702,170 shares during the last quarter. Finally, Jennison Associates LLC grew its stake in shares of Hudbay Minerals by 12.2% in the 3rd quarter. Jennison Associates LLC now owns 3,298,814 shares of the mining company’s stock worth $30,340,000 after purchasing an additional 359,126 shares during the last quarter. 57.82% of the stock is currently owned by institutional investors.

Hudbay Minerals Trading Down 0.7 %

NYSE:HBM opened at $8.25 on Friday. The company has a market cap of $3.25 billion, a PE ratio of 35.87 and a beta of 1.77. The business’s 50 day moving average is $8.97 and its two-hundred day moving average is $8.57. The company has a quick ratio of 1.47, a current ratio of 1.86 and a debt-to-equity ratio of 0.44. Hudbay Minerals has a 52 week low of $4.94 and a 52 week high of $10.49.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last posted its quarterly earnings results on Wednesday, November 13th. The mining company reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.09. Hudbay Minerals had a net margin of 4.23% and a return on equity of 7.44%. The company had revenue of $485.80 million for the quarter, compared to the consensus estimate of $454.47 million. During the same period last year, the firm posted $0.07 EPS. The company’s revenue for the quarter was up 1.1% on a year-over-year basis. On average, analysts predict that Hudbay Minerals will post 0.55 EPS for the current year.

About Hudbay Minerals

Hudbay Minerals Inc, a diversified mining company, focuses on the exploration, development, operation, and optimization of properties in North and South America. It produces copper concentrates containing gold, silver, and molybdenum; gold concentrates containing zinc; zinc concentrates; molybdenum concentrates; and silver/gold doré.