Hudbay Minerals Inc (NYSE:HBM) (TSE:HBM) has been given an average rating of “Hold” by the eleven analysts that are currently covering the firm, Marketbeat reports. Eight research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $8.06.

Several brokerages have recently issued reports on HBM. Zacks Investment Research raised Hudbay Minerals from a “strong sell” rating to a “hold” rating in a report on Friday, October 18th. CIBC restated a “hold” rating and issued a $5.00 target price on shares of Hudbay Minerals in a research note on Friday, September 6th. ValuEngine lowered Hudbay Minerals from a “buy” rating to a “hold” rating in a report on Saturday, November 23rd. Finally, Scotiabank cut Hudbay Minerals from an “outperform” rating to a “sector perform” rating in a research report on Tuesday, November 12th.

Hedge funds have recently added to or reduced their stakes in the stock. Letko Brosseau & Associates Inc. raised its position in shares of Hudbay Minerals by 7.1% in the third quarter. Letko Brosseau & Associates Inc. now owns 37,994,123 shares of the mining company’s stock worth $137,169,000 after acquiring an additional 2,528,250 shares during the period. Waterton Global Resource Management Inc. raised its position in shares of Hudbay Minerals by 6.5% during the 2nd quarter. Waterton Global Resource Management Inc. now owns 33,649,698 shares of the mining company’s stock worth $182,045,000 after purchasing an additional 2,066,581 shares during the last quarter. Heathbridge Capital Management Ltd. lifted its stake in Hudbay Minerals by 32.6% in the 3rd quarter. Heathbridge Capital Management Ltd. now owns 6,778,215 shares of the mining company’s stock valued at $24,465,000 after buying an additional 1,665,500 shares in the last quarter. Vanguard Group Inc. lifted its stake in Hudbay Minerals by 2.2% in the 2nd quarter. Vanguard Group Inc. now owns 6,371,000 shares of the mining company’s stock valued at $34,468,000 after buying an additional 137,274 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in Hudbay Minerals by 63.7% in the 2nd quarter. Renaissance Technologies LLC now owns 4,183,209 shares of the mining company’s stock worth $22,631,000 after buying an additional 1,628,400 shares during the last quarter. Institutional investors own 62.88% of the company’s stock.

Shares of NYSE:HBM traded up $0.07 during midday trading on Friday, reaching $3.62. The company’s stock had a trading volume of 15,428 shares, compared to its average volume of 763,984. The company has a quick ratio of 1.61, a current ratio of 2.09 and a debt-to-equity ratio of 0.56. The stock has a fifty day moving average of $3.54 and a 200 day moving average of $4.10. Hudbay Minerals has a twelve month low of $2.99 and a twelve month high of $7.83. The firm has a market capitalization of $927.52 million, a PE ratio of 9.27 and a beta of 3.01.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last posted its quarterly earnings results on Monday, November 11th. The mining company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.02). The business had revenue of $291.28 million during the quarter, compared to analysts’ expectations of $295.75 million. Hudbay Minerals had a negative net margin of 27.35% and a negative return on equity of 0.71%. Hudbay Minerals’s revenue for the quarter was down 19.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.09 earnings per share. Sell-side analysts anticipate that Hudbay Minerals will post -0.14 earnings per share for the current fiscal year.

About Hudbay Minerals

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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