Hudbay Minerals Inc (NYSE:HBM) (TSE:HBM) – National Bank Financial raised their FY2018 earnings per share (EPS) estimates for shares of Hudbay Minerals in a research report issued to clients and investors on Sunday, November 4th. National Bank Financial analyst S. Nagle now anticipates that the mining company will earn $0.34 per share for the year, up from their prior forecast of $0.23. National Bank Financial also issued estimates for Hudbay Minerals’ FY2019 earnings at $0.48 EPS.
Hudbay Minerals (NYSE:HBM) (TSE:HBM) last announced its earnings results on Wednesday, October 31st. The mining company reported $0.09 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.07. Hudbay Minerals had a net margin of 12.29% and a return on equity of 7.26%. The business had revenue of $362.65 million for the quarter, compared to analyst estimates of $305.36 million. During the same quarter in the previous year, the firm posted $0.17 earnings per share. Hudbay Minerals’s revenue was down 4.6% compared to the same quarter last year.
A number of other brokerages have also issued reports on HBM. Zacks Investment Research raised shares of Hudbay Minerals from a “sell” rating to a “hold” rating in a research report on Monday, July 23rd. Raymond James reaffirmed a “buy” rating on shares of Hudbay Minerals in a research report on Friday, November 2nd. Bank of America assumed coverage on shares of Hudbay Minerals in a research report on Tuesday, August 14th. They set a “neutral” rating and a $6.00 target price on the stock. ValuEngine raised shares of Hudbay Minerals from a “strong sell” rating to a “sell” rating in a research report on Tuesday, August 7th. Finally, Barclays assumed coverage on shares of Hudbay Minerals in a research report on Wednesday, October 10th. They set an “overweight” rating and a $8.00 target price on the stock. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. Hudbay Minerals currently has a consensus rating of “Hold” and an average target price of $8.33.
Shares of HBM stock opened at $5.04 on Wednesday. Hudbay Minerals has a 1 year low of $3.44 and a 1 year high of $10.25. The firm has a market cap of $1.29 billion, a P/E ratio of 8.84 and a beta of 2.96. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.98 and a current ratio of 2.44.
Institutional investors have recently made changes to their positions in the business. Regal Investment Advisors LLC bought a new stake in Hudbay Minerals in the 2nd quarter valued at $139,000. BlackRock Inc. increased its holdings in Hudbay Minerals by 131.1% in the 2nd quarter. BlackRock Inc. now owns 35,456 shares of the mining company’s stock valued at $199,000 after buying an additional 20,113 shares during the period. Quantitative Systematic Strategies LLC bought a new stake in Hudbay Minerals in the 2nd quarter valued at $228,000. Jane Street Group LLC bought a new stake in Hudbay Minerals in the 1st quarter valued at $344,000. Finally, Covalis Capital LLP bought a new stake in Hudbay Minerals in the 2nd quarter valued at $329,000. 58.36% of the stock is currently owned by hedge funds and other institutional investors.
Hudbay Minerals Company Profile
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 four polymetallic mines, four ore concentrators, and a zinc production facility in northern Manitoba and Saskatchewan, Canada, as well as in Cusco, Peru; and a copper project in Arizona, the United States.
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