Mining minerals

Hudbay Minerals (NYSE:HBM) shares a 3.5% gain


Shares of Hudbay Minerals Inc. (NYSE:HBM – Get Rating) (TSE:HBM) jumped 3.5% on Friday. The company traded as high as $3.56 and last traded at $3.56. 37,823 shares changed hands during trading, down 98% from the average session volume of 1,679,956 shares. The stock previously closed at $3.44.

Changes to analyst ratings

A number of brokerages have weighed in on HBM. Canaccord Genuity Group lowered its price target on Hudbay Minerals shares from C$11.50 to C$9.50 in a Thursday, July 14 research note. Stifel Nicolaus cut his price target on Hudbay Minerals shares from C$16.50 to C$12.00 in a Tuesday, July 19 research note. CIBC cut its price target on Hudbay Minerals from C$14.00 to C$11.50 in a Wednesday, May 18 research note. Raymond James raised his price target on Hudbay Minerals from C$13.00 to C$14.00 in a Wednesday, April 20 research note. Finally, Scotiabank reduced its price target on Hudbay Minerals from C$10.00 to C$7.50 in a research note Thursday, July 7. Two investment analysts gave the stock a hold rating and six gave the stock a buy rating. Based on data from MarketBeat.com, Hudbay Minerals currently has a consensus rating of “Moderate Buy” and an average target price of $12.06.

Hudbay Minerals Price Performance

The company has a market capitalization of $879.95 million, a P/E ratio of -7.30, a P/E/G ratio of 0.33 and a beta of 2.15. The company has a debt ratio of 0.79, a quick ratio of 0.92 and a current ratio of 1.35. The company’s fifty-day moving average is $4.74 and its two-hundred-day moving average is $6.50.

Hudbay Minerals (NYSE:HBM – Get Rating) (TSE:HBM) last released its results on Monday, May 9. The mining company reported earnings per share of $0.02 for the quarter, missing the consensus estimate of $0.09 per ($0.07). The company had revenue of $378.62 million in the quarter, versus a consensus estimate of $402.00 million. Hudbay Minerals posted a positive return on equity of 5.27% and a negative net margin of 7.69%. As a group, analysts expect Hudbay Minerals Inc. to post 0.4 earnings per share for the current fiscal year.

Institutional entries and exits

Several hedge funds and other institutional investors have recently changed their positions in the stock. Belvedere Trading LLC increased its stake in shares of Hudbay Minerals by 36.8% during the 2nd quarter. Belvedere Trading LLC now owns 34,350 shares of the mining company valued at $122,000 after buying an additional 9,249 shares in the last quarter. Galibier Capital Management Ltd. increased its stake in shares of Hudbay Minerals by 27.1% during the 2nd quarter. Galibier Capital Management Ltd. now owns 590,100 shares of the mining company valued at $2,402,000 after purchasing an additional 126,000 shares in the last quarter. Condire Management LP increased its stake in Hudbay Minerals shares by 0.6% during the first quarter. Condire Management LP now owns 4,273,919 shares of the mining company valued at $33,550,000 after purchasing an additional 23,782 shares in the last quarter. Neuberger Berman Group LLC increased its stake in shares of Hudbay Minerals by 45.5% in the 1st quarter. Neuberger Berman Group LLC now owns 85,441 shares of the mining company valued at $672,000 after purchasing an additional 26,734 shares in the last quarter. Finally, BNP Paribas Arbitrage SA increased its stake in Hudbay Minerals shares by 258.8% in the 1st quarter. BNP Paribas Arbitrage SA now owns 232,040 shares of the mining company valued at $1,822,000 after buying an additional 167,362 shares in the last quarter. Institutional investors hold 67.11% of the company’s shares.

Hudbay Minerals Company Profile

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Hudbay Minerals Inc, a diversified mining company, together with its subsidiaries, is focused 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; gilded silver/gold; molybdenum concentrates; and zinc metals.

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