Hudbay Minerals (NYSE:HBM) Raised to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Hudbay Minerals (NYSE:HBM) (TSE:HBM) from a hold rating to a buy rating in a report released on Tuesday, Zacks.com reports. They currently have $5.50 target price on the mining company’s stock.

According to Zacks, “HudBay Minerals Inc. is a mining company and engages in discovery, production and marketing of base metals in North and Central America. It owns zinc and copper mines, concentrators and metal production facilities in northern Manitoba and Saskatchewan, zinc oxide production facility in Ontario, copper refinery in Michigan and nickel project in Guatemala. In addition to its primary products, zinc and copper, HudBay also produces gold, silver and zinc oxide. HudBay Minerals Inc. is headquartered in Toronto, Canada. “

HBM has been the subject of a number of other reports. Canaccord Genuity cut shares of Iamgold from a buy rating to a hold rating and reduced their target price for the company from C$7.00 to C$3.75 in a research note on Tuesday, May 7th. BMO Capital Markets cut shares of Capital Power from an outperform rating to a market perform rating in a research note on Wednesday, May 8th. CIBC reiterated a hold rating and issued a $9.00 target price on shares of Hudbay Minerals in a research note on Sunday, May 12th. Royal Bank of Canada set a €86.00 ($100.00) target price on shares of Henkel AG & Co KGaA and gave the company a neutral rating in a research note on Tuesday, May 7th. Finally, ValuEngine upgraded shares of XCel Brands from a sell rating to a hold rating in a research note on Tuesday, July 9th. Seven investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Hudbay Minerals has a consensus rating of Hold and an average price target of $7.80.

NYSE HBM opened at $5.15 on Tuesday. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.64 and a quick ratio of 2.14. The firm has a market capitalization of $1.36 billion, a PE ratio of 13.21, a PEG ratio of 4.67 and a beta of 2.83. The company has a 50 day simple moving average of $5.17. Hudbay Minerals has a 12-month low of $3.44 and a 12-month high of $7.83.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last posted its earnings results on Monday, May 6th. The mining company reported $0.03 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.01 by $0.02. The firm had revenue of $292.30 million during the quarter, compared to analysts’ expectations of $314.70 million. Hudbay Minerals had a net margin of 2.22% and a return on equity of 3.07%. The company’s revenue was down 24.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.16 earnings per share. On average, analysts expect that Hudbay Minerals will post 0.2 EPS for the current fiscal year.

Institutional investors have recently modified their holdings of the company. Acadian Asset Management LLC acquired a new stake in shares of Hudbay Minerals in the first quarter worth $4,236,000. Heathbridge Capital Management Ltd. lifted its stake in shares of Hudbay Minerals by 0.6% in the first quarter. Heathbridge Capital Management Ltd. now owns 4,873,000 shares of the mining company’s stock worth $34,825,000 after buying an additional 30,500 shares during the last quarter. Legal & General Group Plc lifted its stake in shares of Hudbay Minerals by 5.4% in the fourth quarter. Legal & General Group Plc now owns 61,227 shares of the mining company’s stock worth $290,000 after buying an additional 3,156 shares during the last quarter. QS Investors LLC lifted its stake in shares of Hudbay Minerals by 34.0% in the fourth quarter. QS Investors LLC now owns 123,800 shares of the mining company’s stock worth $584,000 after buying an additional 31,400 shares during the last quarter. Finally, Waterton Global Resource Management Inc. lifted its stake in shares of Hudbay Minerals by 3.6% in the first quarter. Waterton Global Resource Management Inc. now owns 31,583,117 shares of the mining company’s stock worth $225,503,000 after buying an additional 1,109,265 shares during the last quarter. Institutional investors and hedge funds own 64.84% of the company’s stock.

About Hudbay Minerals

Hudbay Minerals Inc, an integrated mining company, together with its subsidiaries, focuses 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; and zinc metal. The company owns three polymetallic mines, four ore concentrators, and a zinc production facility in northern Manitoba and Saskatchewan, Canada, as well as in Cusco, Peru; and copper projects in Arizona and Nevada, the United States.

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