BMO Capital Markets Lowers Hudbay Minerals (NYSE:HBM) Target Price to C$12.50

Hudbay Minerals (NYSE: HBM – Get a rating) (TSE: HBM) had its price target lowered by BMO Capital Markets research analysts from C$13.00 to C$12.50 in a research note released to investors on Tuesday, Fly reports.

Other analysts have also recently published research reports on the company. Barclays upgraded Hudbay Minerals from a “weighted” rating to an “overweight” rating in a Tuesday July 19 research note. Canaccord Genuity Group lowered its price target on Hudbay Minerals from C$11.50 to C$9.50 in a Thursday, July 14 research note. Scotiabank lowered its price target on Hudbay Minerals from C$10.00 to C$7.50 in a report released Thursday, July 7. Raymond James raised his price target on Hudbay Minerals from C$13.00 to C$14.00 in a Wednesday, April 20 report. Finally, the Royal Bank of Canada lowered its price target on Hudbay Minerals from C$14.00 to C$12.00 in a Wednesday, May 11 report. Two equity research analysts rated the stock with a hold rating and six gave the company a buy rating. According to data from MarketBeat, Hudbay Minerals has a consensus rating of “Moderate Buy” and an average price target of $11.44.

Hudbay Minerals inventories rise 3.5%

HBM stock traded down $0.14 on Tuesday, hitting $4.14. 136,668 shares of the company were traded, against an average volume of 1,772,740. Hudbay Minerals has a 12-month low of $3.08 and a 12-month high of $8.75. The company has a 50-day moving average price of $4.28 and a two-hundred-day moving average price of $6.17. The company has a debt ratio of 0.79, a quick ratio of 0.92 and a current ratio of 1.35. The stock has a market capitalization of $1.08 billion, a P/E ratio of -9.00, a growth price/earnings ratio of 0.72 and a beta of 2.00.

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Hudbay Minerals (NYSE: HBM – Get a rating) (TSE:HBM) last announced 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). Hudbay Minerals posted a positive return on equity of 5.27% and a negative net margin of 7.69%. The company posted revenue of $378.62 million for the quarter, compared to $402.00 million expected by analysts. As a group, equity research analysts expect Hudbay Minerals to post 0.2 EPS for the current fiscal year.

Institutional investors weigh in on Hudbay Minerals

Several hedge funds and other institutional investors have recently changed their positions in the stock. Quadrant Capital Group LLC increased its stake in Hudbay Minerals by 122.9% during the fourth quarter. Quadrant Capital Group LLC now owns 6,183 shares of the mining company worth $45,000 after acquiring 3,409 additional shares in the last quarter. Meridian Wealth Management LLC acquired a new equity stake in Hudbay Minerals in the second quarter worth $49,000. US Bancorp DE increased its stake in shares of Hudbay Minerals by 122.4% in the first quarter. US Bancorp DE now owns 7,899 shares of the mining company valued at $62,000 after buying an additional 4,347 shares last quarter. Signaturefd LLC increased its stake in Hudbay Minerals shares to 97.9% in the first quarter. Signaturefd LLC now owns 10,448 shares of the mining company valued at $82,000 after purchasing an additional 5,169 shares last quarter. Finally, CastleKnight Management LP acquired a new equity stake in Hudbay Minerals in the fourth quarter valued at $85,000. Institutional investors and hedge funds hold 67.11% of the company’s shares.

About Hudbay Minerals

(Get a rating)

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; gilt silver/gold; molybdenum concentrates; and zinc metals.

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Analyst Recommendations for Hudbay Minerals (NYSE: HBM)

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