Trade Report: Today, RBC Capital Markets Reaffirmed “Outperform” Rating for HudBay Minerals Inc. (HBM)

Today, RBC Capital Markets Reaffirmed “Outperform” Rating for HudBay Minerals Inc. (HBM)

RBC Capital Markets restated their outperform rating on shares of HudBay Minerals Inc. (NYSE:HBM) (TSE:HBM) in a report released on Thursday.

Several other analysts also recently commented on HBM. Barclays PLC restated an underweight rating on shares of HudBay Minerals in a report on Wednesday, August 3rd. BMO Capital Markets downgraded shares of HudBay Minerals from an outperform rating to a market perform rating and set a $7.50 target price on the stock. in a report on Tuesday, August 2nd. They noted that the move was a valuation call. TD Securities restated a hold rating and set a $7.50 target price on shares of HudBay Minerals in a report on Thursday, August 4th. Zacks Investment Research upgraded shares of HudBay Minerals from a sell rating to a buy rating and set a $5.00 target price on the stock in a report on Thursday, November 3rd. Finally, Scotiabank restated an outperform rating and set a $8.00 target price on shares of HudBay Minerals in a report on Thursday, July 28th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the stock. HudBay Minerals presently has a consensus rating of Buy and a consensus price target of $7.62.

Shares of HudBay Minerals (NYSE:HBM) opened at 6.90 on Thursday. The stock has a 50 day moving average of $4.89 and a 200-day moving average of $4.57. The firm’s market capitalization is $1.63 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 results on Thursday, November 3rd. The mining company reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.09. The business had revenue of $311.40 million for the quarter, compared to the consensus estimate of $268.89 million. HudBay Minerals had a negative net margin of 21.19% and a positive return on equity of 1.04%. HudBay Minerals’s revenue for the quarter was up 15.4% on a year-over-year basis. During the same period last year, the company posted ($0.05) EPS. Equities analysts anticipate that HudBay Minerals will post $0.09 earnings per share for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP boosted 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 in the last quarter. PineBridge Investments L.P. boosted its position 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 in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position 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 in the last quarter. AXA boosted its position 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 in the last quarter. Finally, Tower Research Capital LLC TRC boosted its position 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 in the last quarter. 58.59% of the stock is owned by institutional investors and hedge funds.

HudBay Minerals Company Profile

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