Hudbay Minerals (HBM) Stock Rating Upgraded by Zacks Investment Research

Hudbay Minerals (NYSE:HBM) (TSE:HBM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Friday. The firm currently has a $6.00 target price on the mining company’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 11.52% from the company’s current price.

According to Zacks, “HudBay Minerals Inc. is a mining company and engages in discovery, production and marketing of base metals in North and Central America. It owns zinc and copper mines, concentrators and metal production facilities in northern Manitoba and Saskatchewan, zinc oxide production facility in Ontario, copper refinery in Michigan and nickel project in Guatemala. In addition to its primary products, zinc and copper, HudBay also produces gold, silver and zinc oxide. HudBay Minerals Inc. is headquartered in Toronto, Canada. “

A number of other research analysts also recently weighed in on the company. BMO Capital Markets assumed coverage on Hudbay Minerals in a research note on Tuesday. They set an “outperform” rating on the stock. Barclays assumed coverage on Hudbay Minerals in a research report on Wednesday, October 10th. They set an “overweight” rating and a $8.00 price target for the company. Royal Bank of Canada lowered Hudbay Minerals from an “outperform” rating to a “sector perform” rating in a report on Wednesday, December 12th. Finally, Raymond James reaffirmed a “buy” rating on shares of Hudbay Minerals in a report on Friday, November 2nd. One analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $6.67.

HBM traded up $0.09 during trading on Friday, hitting $5.38. The stock had a trading volume of 703,391 shares, compared to its average volume of 810,436. The company has a market capitalization of $1.37 billion, a PE ratio of 9.44 and a beta of 2.71. Hudbay Minerals has a one year low of $3.44 and a one year high of $10.25. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.44 and a quick ratio of 1.98.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last posted its quarterly earnings results on Wednesday, October 31st. The mining company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.07. Hudbay Minerals had a return on equity of 7.26% and a net margin of 12.29%. The company had revenue of $362.65 million during the quarter, compared to analysts’ expectations of $305.36 million. During the same quarter in the previous year, the firm earned $0.17 EPS. Hudbay Minerals’s revenue was down 4.6% on a year-over-year basis. Equities analysts anticipate that Hudbay Minerals will post 0.34 earnings per share for the current fiscal year.

Several large investors have recently bought and sold shares of the company. Neuberger Berman Group LLC boosted its holdings in shares of Hudbay Minerals by 140.3% during the 3rd quarter. Neuberger Berman Group LLC now owns 33,356 shares of the mining company’s stock valued at $169,000 after purchasing an additional 19,477 shares during the last quarter. Trexquant Investment LP bought a new position in shares of Hudbay Minerals during the third quarter valued at approximately $172,000. Regal Investment Advisors LLC boosted its stake in Hudbay Minerals by 49.2% in the third quarter. Regal Investment Advisors LLC now owns 36,930 shares of the mining company’s stock valued at $186,000 after acquiring an additional 12,181 shares in the last quarter. BlackRock Inc. boosted its stake in Hudbay Minerals by 131.1% in the second quarter. BlackRock Inc. now owns 35,456 shares of the mining company’s stock valued at $199,000 after acquiring an additional 20,113 shares in the last quarter. Finally, FIL Ltd acquired a new stake in Hudbay Minerals in the third quarter valued at approximately $304,000. Hedge funds and other institutional investors own 52.94% of the company’s stock.

Hudbay Minerals Company Profile

Hudbay Minerals Inc, an integrated mining company, together with its subsidiaries, focuses on the discovery, production, and marketing of base and precious metals in North and South America. It produces copper concentrates containing copper, gold, and silver; and zinc metal. The company owns four polymetallic mines, four ore concentrators, and a zinc production facility in northern Manitoba and Saskatchewan, Canada, as well as in Cusco, Peru; and a copper project in Arizona, the United States.

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