Today, HudBay Minerals Inc. (HBM) to Post Q4 2016 Earnings of $0.00 Per Share, National Bank Financial Forecasts

Today, HudBay Minerals Inc. (HBM) to Post Q4 2016 Earnings of $0.00 Per Share, National Bank Financial Forecasts
HudBay Minerals Inc. (NYSE:HBM) (TSE:HBM) – Equities research analysts at National Bank Financial decreased their Q4 2016 earnings per share (EPS) estimates for shares of HudBay Minerals in a note issued to investors on Monday. National Bank Financial analyst S. Nagle now anticipates that the firm will post earnings per share of $0.00 for the quarter, down from their previous forecast of $0.01. National Bank Financial has a “Sector Perform” rating and a $9.00 price target on the stock. National Bank Financial also issued estimates for HudBay Minerals’ FY2017 earnings at $0.14 EPS and FY2018 earnings at $0.60 EPS.

A number of other equities research analysts have also recently commented on HBM. BMO Capital Markets cut HudBay Minerals from an “outperform” rating to a “market perform” rating and set a $7.50 price objective for the company. in a research note on Tuesday, August 2nd. They noted that the move was a valuation call. Barclays PLC reaffirmed an “underweight” rating on shares of HudBay Minerals in a research note on Wednesday, August 3rd. RBC Capital Markets reaffirmed an “outperform” rating and set a $8.00 price objective (up from $7.50) on shares of HudBay Minerals in a research note on Wednesday, August 3rd. TD Securities reaffirmed a “hold” rating and set a $7.50 price objective on shares of HudBay Minerals in a research note on Thursday, August 4th. Finally, Scotiabank reaffirmed an “outperform” rating and set a $7.50 price objective (down from $8.00) on shares of HudBay Minerals in a research note on Monday, September 19th. 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 stock. HudBay Minerals currently has a consensus rating of “Buy” and an average price target of $7.62.

Shares of HudBay Minerals (NYSE:HBM) opened at 7.00 on Thursday. The stock’s market capitalization is $1.65 billion. HudBay Minerals has a 1-year low of $1.56 and a 1-year high of $7.10. The stock’s 50 day moving average price is $4.80 and its 200-day moving average price is $4.54.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Acadian Asset Management LLC purchased a new stake in shares of HudBay Minerals during the second quarter worth approximately $382,000. CIBC World Markets Inc. raised its stake in shares of HudBay Minerals by 17.7% in the second quarter. CIBC World Markets Inc. now owns 252,191 shares of the mining company’s stock worth $1,205,000 after buying an additional 37,849 shares during the period. ICM Asset Management Inc. WA purchased a new stake in shares of HudBay Minerals during the second quarter worth approximately $848,000. Letko Brosseau & Associates Inc. raised its stake in shares of HudBay Minerals by 0.5% in the second quarter. Letko Brosseau & Associates Inc. now owns 25,998,894 shares of the mining company’s stock worth $123,309,000 after buying an additional 124,550 shares during the period. Finally, Global X Management Co. LLC raised its stake in shares of HudBay Minerals by 19.4% in the second quarter. Global X Management Co. LLC now owns 261,815 shares of the mining company’s stock worth $1,244,000 after buying an additional 42,479 shares during the period. 73.13% of the stock is owned by hedge funds and other institutional investors.

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