Today: The HudBay Minerals Inc. (HBM) Stock Rating Reaffirm by TD Securities

The HudBay Minerals Inc. (HBM) Stock Rating Reaffirm by TD Securities

HudBay Minerals Inc. (NYSE:HBM) (TSE:HBM)‘s stock had its “buy” rating reiterated by investment analysts at TD Securities in a research note issued to investors on Thursday. They presently have a $9.50 price target on the mining company’s stock, up from their previous price target of $7.50. TD Securities’ price target would indicate a potential upside of 35.71% from the stock’s current price.

A number of other brokerages have also weighed in on HBM. RBC Capital Markets reaffirmed an “outperform” rating on shares of HudBay Minerals in a report on Thursday. National Bank Financial reaffirmed a “sector perform” rating and issued a $9.00 price objective (up previously from $7.00) on shares of HudBay Minerals in a report on Thursday. Scotiabank reaffirmed an “outperform” rating and issued a $8.75 price objective (up previously from $7.75) on shares of HudBay Minerals in a report on Thursday. Credit Suisse Group AG set a $9.00 price objective on HudBay Minerals and gave the company a “hold” rating in a report on Tuesday, November 22nd. Finally, Barclays PLC reaffirmed an “underweight” rating and issued a $7.00 price objective (up previously from $5.00) on shares of HudBay Minerals in a report on Sunday, November 20th. 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 company 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 has a 50 day moving average price of $4.80 and a 200-day moving average price of $4.54. The stock’s market capitalization is $1.65 billion. HudBay Minerals has a 52-week low of $1.56 and a 52-week high of $7.10.

HudBay Minerals (NYSE:HBM) last announced its quarterly earnings data on Thursday, November 3rd. The mining company reported $0.14 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.09. HudBay Minerals had a positive return on equity of 1.04% and a negative net margin of 21.19%. The company had revenue of $311.40 million for the quarter, compared to analyst estimates of $268.89 million. During the same quarter in the previous year, the company earned ($0.05) EPS. The firm’s revenue for the quarter was up 15.4% compared to the same quarter last year. On average, equities research analysts predict that HudBay Minerals will post $0.09 EPS for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in HBM. Acadian Asset Management LLC purchased a new stake in HudBay Minerals during the second quarter valued at approximately $382,000. CIBC World Markets Inc. boosted its stake in HudBay Minerals by 17.7% in the second quarter. CIBC World Markets Inc. now owns 252,191 shares of the mining company’s stock valued at $1,205,000 after buying an additional 37,849 shares during the last quarter. ICM Asset Management Inc. WA purchased a new stake in HudBay Minerals during the second quarter valued at approximately $848,000. Letko Brosseau & Associates Inc. boosted its stake in 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 valued at $123,309,000 after buying an additional 124,550 shares during the last quarter. Finally, Global X Management Co. LLC boosted its stake in 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 valued at $1,244,000 after buying an additional 42,479 shares during the last quarter. 58.59% of the stock is owned by hedge funds and other institutional investors.

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