Hudbay Minerals (NYSE:HBM) Now Covered by Jefferies Financial Group

Jefferies Financial Group began coverage on shares of Hudbay Minerals (NYSE:HBM) (TSE:HBM) in a research note issued to investors on Friday, Marketbeat.com reports. The firm set a “hold” rating and a $13.00 price target on the mining company’s stock. Jefferies Financial Group’s price target points to a potential upside of 55.32% from the stock’s current price.

Several other analysts have also weighed in on HBM. Raymond James lifted their target price on shares of Hudbay Minerals from $9.00 to $10.50 and gave the company an “outperform” rating in a research report on Wednesday, March 20th. Bank of America raised Hudbay Minerals from a “neutral” rating to a “buy” rating and set a $9.00 price target on the stock in a research note on Tuesday, April 9th. Stifel Nicolaus initiated coverage on Hudbay Minerals in a research report on Tuesday, March 26th. They issued a “buy” rating on the stock. Finally, StockNews.com raised shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a report on Friday, March 29th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $10.21.

Hudbay Minerals Price Performance

NYSE HBM opened at $8.37 on Friday. The stock has a 50-day simple moving average of $7.15 and a 200 day simple moving average of $5.76. Hudbay Minerals has a twelve month low of $3.94 and a twelve month high of $8.85. The stock has a market capitalization of $2.94 billion, a PE ratio of 41.85, a P/E/G ratio of 0.90 and a beta of 1.88. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.87 and a current ratio of 1.25.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last issued its quarterly earnings results on Friday, February 23rd. The mining company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.06. The firm had revenue of $602.20 million during the quarter, compared to the consensus estimate of $552.74 million. Hudbay Minerals had a net margin of 3.95% and a return on equity of 3.86%. The business’s revenue was up 87.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.01 EPS. Research analysts anticipate that Hudbay Minerals will post 0.4 EPS for the current year.

Institutional Investors Weigh In On Hudbay Minerals

Large investors have recently modified their holdings of the business. Register Financial Advisors LLC bought a new stake in shares of Hudbay Minerals during the first quarter worth $35,000. Banque Cantonale Vaudoise increased its holdings in Hudbay Minerals by 38.7% during the 1st quarter. Banque Cantonale Vaudoise now owns 6,471 shares of the mining company’s stock worth $45,000 after purchasing an additional 1,806 shares in the last quarter. Ballentine Partners LLC acquired a new stake in shares of Hudbay Minerals in the 1st quarter valued at about $85,000. Bank of Nova Scotia lifted its holdings in shares of Hudbay Minerals by 19.1% in the third quarter. Bank of Nova Scotia now owns 24,843 shares of the mining company’s stock valued at $121,000 after purchasing an additional 3,979 shares in the last quarter. Finally, Shell Asset Management Co. boosted its position in shares of Hudbay Minerals by 38.6% during the third quarter. Shell Asset Management Co. now owns 26,189 shares of the mining company’s stock worth $128,000 after buying an additional 7,300 shares during the period. 57.82% of the stock is currently owned by 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.