Royal Bank of Canada Reiterates “Average” Rating for Hudbay Minerals (NYSE:HBM)

Hudbay Minerals (NYSE:HBM) (TSE:HBM)‘s stock had its “average” rating restated by Royal Bank of Canada in a research report issued to clients and investors on Tuesday, May 7th, AnalystRatings.com reports.

HBM has been the topic of several other reports. ValuEngine raised shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a report on Tuesday, March 26th. BMO Capital Markets reaffirmed a “buy” rating on shares of Hudbay Minerals in a report on Tuesday, February 19th. CIBC reaffirmed a “neutral” rating on shares of Hudbay Minerals in a report on Sunday, January 20th. Zacks Investment Research raised shares of Hudbay Minerals from a “hold” rating to a “buy” rating and set a $6.75 price target on the stock in a report on Wednesday, February 6th. Finally, Canaccord Genuity upgraded shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a research note on Tuesday, May 7th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company’s stock. Hudbay Minerals has an average rating of “Hold” and an average target price of $8.05.

HBM stock traded down $0.02 during trading on Tuesday, hitting $4.86. 697,178 shares of the company’s stock traded hands, compared to its average volume of 1,077,108. The firm has a market cap of $1.28 billion, a price-to-earnings ratio of 12.46, a PEG ratio of 4.65 and a beta of 2.82. The company has a quick ratio of 2.14, a current ratio of 2.64 and a debt-to-equity ratio of 0.48. Hudbay Minerals has a 1 year low of $3.44 and a 1 year high of $7.83.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last issued its quarterly earnings data on Monday, May 6th. The mining company reported $0.03 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.01 by $0.02. The company had revenue of $292.30 million for the quarter, compared to analyst estimates of $314.70 million. Hudbay Minerals had a net margin of 2.22% and a return on equity of 3.07%. Hudbay Minerals’s revenue was down 24.4% compared to the same quarter last year. During the same period last year, the company posted $0.16 earnings per share. Analysts anticipate that Hudbay Minerals will post 0.19 EPS for the current fiscal year.

Several large investors have recently bought and sold shares of HBM. Norges Bank acquired a new stake in shares of Hudbay Minerals during the fourth quarter worth $30,291,000. Letko Brosseau & Associates Inc. lifted its stake in shares of Hudbay Minerals by 13.9% during the fourth quarter. Letko Brosseau & Associates Inc. now owns 36,116,358 shares of the mining company’s stock worth $170,824,000 after buying an additional 4,404,357 shares during the period. Hexavest Inc. lifted its stake in shares of Hudbay Minerals by 357.7% during the first quarter. Hexavest Inc. now owns 1,529,690 shares of the mining company’s stock worth $10,935,000 after buying an additional 1,195,479 shares during the period. Waterton Global Resource Management Inc. lifted its stake in shares of Hudbay Minerals by 3.6% during the first quarter. Waterton Global Resource Management Inc. now owns 31,583,117 shares of the mining company’s stock worth $225,503,000 after buying an additional 1,109,265 shares during the period. Finally, Renaissance Technologies LLC lifted its stake in shares of Hudbay Minerals by 67.7% during the first quarter. Renaissance Technologies LLC now owns 2,554,809 shares of the mining company’s stock worth $18,241,000 after buying an additional 1,031,218 shares during the period. Institutional investors and hedge funds own 64.84% 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 three polymetallic mines, four ore concentrators, and a zinc production facility in northern Manitoba and Saskatchewan, Canada, as well as in Cusco, Peru; and copper projects in Arizona and Nevada, the United States.

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Analyst Recommendations for Hudbay Minerals (NYSE:HBM)

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