Trade Report: The National Bank Financial Reiterates Sector Perform Rating for HudBay Minerals Inc. (HBM)

The National Bank Financial Reiterates Sector Perform Rating for HudBay Minerals Inc. (HBM)

HudBay Minerals Inc. (NYSE:HBM) (TSE:HBM)‘s stock had its “sector perform” rating reiterated by stock analysts at National Bank Financial in a research note issued on Thursday. They currently have a $9.00 price target on the mining company’s stock, up from their prior price target of $7.00. National Bank Financial’s target price would indicate a potential upside of 28.57% from the stock’s current price.

A number of other analysts have also commented on HBM. Scotiabank restated an “outperform” rating and set a $7.00 price target on shares of HudBay Minerals in a research note on Thursday, November 3rd. Zacks Investment Research lowered shares of HudBay Minerals from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 28th. RBC Capital Markets restated an “outperform” rating and set a $8.00 price target (up previously from $7.50) on shares of HudBay Minerals in a research note on Wednesday, August 3rd. Barclays PLC restated an “underweight” rating and set a $7.00 price target (up previously from $5.00) on shares of HudBay Minerals in a research note on Sunday, November 20th. Finally, TD Securities restated a “hold” rating and set a $7.50 price target on shares of HudBay Minerals in a research note on Thursday, August 4th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company. HudBay Minerals presently has an average rating of “Buy” and a consensus target price of $7.62.

Shares of HudBay Minerals (NYSE:HBM) opened at 7.00 on Thursday. The firm’s market cap 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 is $4.80 and its 200-day moving average is $4.54.

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

A number of institutional investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP raised its position in HudBay Minerals by 1.9% in the second quarter. Dimensional Fund Advisors LP now owns 128,059 shares of the mining company’s stock valued at $612,000 after buying an additional 2,400 shares during the last quarter. PineBridge Investments L.P. increased its stake in HudBay Minerals by 16.2% in the second quarter. PineBridge Investments L.P. now owns 65,773 shares of the mining company’s stock valued at $406,000 after buying an additional 9,160 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in HudBay Minerals by 8.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 162,188 shares of the mining company’s stock valued at $640,000 after buying an additional 12,906 shares during the period. AXA increased its stake in HudBay Minerals by 8.7% in the second quarter. AXA now owns 222,000 shares of the mining company’s stock valued at $1,055,000 after buying an additional 17,700 shares during the period. Finally, Tower Research Capital LLC TRC increased its stake in HudBay Minerals by 389.2% in the third quarter. Tower Research Capital LLC TRC now owns 34,970 shares of the mining company’s stock valued at $182,000 after buying an additional 27,821 shares during the period. Institutional investors own 58.59% of the company’s stock.

About HudBay Minerals

Related posts

Leave a Comment