HudBay Minerals Inc (NYSE:HBM) Stock Has Average Target Price of $31.33

Shares of HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) have earned a consensus rating of “Moderate Buy” from the twelve ratings firms that are presently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $31.33.

Several analysts have recently commented on the company. Wall Street Zen downgraded HudBay Minerals from a “buy” rating to a “hold” rating in a research note on Sunday, October 25th. Barclays reaffirmed an “overweight” rating on shares of HudBay Minerals in a research report on Tuesday, October 6th. Scotiabank restated an “outperform” rating on shares of HudBay Minerals in a research note on Thursday, July 30th. Citigroup reaffirmed a “positive” rating on shares of HudBay Minerals in a research report on Wednesday, July 15th. Finally, Weiss Ratings raised HudBay Minerals from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 8th.

HudBay Minerals Trading Up 1.4%

HudBay Minerals stock opened at $20.87 on Friday. The firm’s fifty day moving average price is $25.35 and its 200-day moving average price is $24.80. HudBay Minerals has a fifty-two week low of $14.34 and a fifty-two week high of $32.15. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.93 and a current ratio of 2.24. The stock has a market cap of $9.27 billion, a P/E ratio of 12.27, a PEG ratio of 0.39 and a beta of 1.62.

Institutional Investors Weigh In On HudBay Minerals

A number of large investors have recently modified their holdings of HBM. Royal Bank of Canada lifted its holdings in shares of HudBay Minerals by 7.8% in the first quarter. Royal Bank of Canada now owns 8,254,831 shares of the mining company’s stock valued at $172,526,000 after purchasing an additional 597,422 shares in the last quarter. William Blair Investment Management LLC increased its holdings in shares of HudBay Minerals by 21.9% in the 3rd quarter. William Blair Investment Management LLC now owns 5,137,438 shares of the mining company’s stock valued at $137,067,000 after acquiring an additional 921,596 shares during the period. Wellington Management Group LLP acquired a new stake in HudBay Minerals during the second quarter valued at approximately $130,557,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in HudBay Minerals during the 2nd quarter worth $99,022,000. Finally, Bank of America Corp DE acquired a new stake in HudBay Minerals in the second quarter valued at approximately $96,341,000. Institutional investors own 57.82% of the company’s stock.

About HudBay Minerals

Hudbay Minerals Inc is a Canadian mining company focused primarily on the exploration, development, and operation of copper, gold, zinc, and silver deposits. Copper is its principal product, with associated precious and base metals produced from several of its operations.

The company operates in Canada, Peru, and the United States. Its assets include the Constancia copper-molybdenum mine in southern Peru; the Snow Lake operations in Manitoba, which produce copper, gold, zinc, and silver; and the Copper Mountain mine in British Columbia.