Brokerages Set Hudbay Minerals Inc. (NYSE:HBM) Target Price at $11.17

Hudbay Minerals Inc. (NYSE:HBM - Get Free Report) TSE: HBM has earned a consensus recommendation of "Buy" from the six ratings firms that are currently covering the company, MarketBeat Ratings reports. Four investment analysts have rated the stock with a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $11.17.

Separately, StockNews.com upgraded Hudbay Minerals from a "hold" rating to a "buy" rating in a research report on Friday, November 15th.

Hudbay Minerals Stock Performance

NYSE HBM traded up $0.33 on Friday, reaching $8.24. 5,705,493 shares of the stock were exchanged, compared to its average volume of 3,162,778. The company has a current ratio of 1.86, a quick ratio of 1.47 and a debt-to-equity ratio of 0.44. Hudbay Minerals has a one year low of $4.94 and a one year high of $10.49. The firm has a market capitalization of $3.25 billion, a PE ratio of 35.83 and a beta of 1.77. The company's 50-day simple moving average is $9.03 and its two-hundred day simple moving average is $8.60.

Hudbay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last issued its quarterly earnings results on Wednesday, November 13th. The mining company reported $0.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.04 by $0.09. Hudbay Minerals had a return on equity of 7.44% and a net margin of 4.23%. The business had revenue of $485.80 million during the quarter, compared to analyst estimates of $454.47 million. During the same quarter in the prior year, the business posted $0.07 EPS. Hudbay Minerals's revenue for the quarter was up 1.1% compared to the same quarter last year. Analysts expect that Hudbay Minerals will post 0.55 EPS for the current fiscal year.

Hedge Funds Weigh In On Hudbay Minerals

A number of institutional investors have recently modified their holdings of HBM. Liontrust Investment Partners LLP purchased a new stake in shares of Hudbay Minerals during the 2nd quarter worth $100,000. K.J. Harrison & Partners Inc acquired a new stake in Hudbay Minerals in the second quarter valued at approximately $773,000. Galibier Capital Management Ltd. grew its holdings in Hudbay Minerals by 13.7% in the second quarter. Galibier Capital Management Ltd. now owns 2,046,150 shares of the mining company's stock worth $18,512,000 after purchasing an additional 247,002 shares during the last quarter. Bfsg LLC acquired a new position in Hudbay Minerals during the 2nd quarter valued at about $801,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Hudbay Minerals by 4.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 74,546 shares of the mining company's stock valued at $674,000 after buying an additional 2,905 shares during the last quarter. 57.82% of the stock is owned by hedge funds and other institutional investors.

About Hudbay Minerals

Hudbay Minerals Inc, a diversified mining company, focuses on the exploration, development, operation, and optimization of properties in North and South America. It produces copper concentrates containing gold, silver, and molybdenum; gold concentrates containing zinc; zinc concentrates; molybdenum concentrates; and silver/gold doré.