HudBay Minerals (NYSE:HBM) Shares Gap Up – Still a Buy?

HudBay Minerals Inc (NYSE:HBM) (TSE:HBM)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $16.44, but opened at $17.06. HudBay Minerals shares last traded at $16.9860, with a volume of 1,017,886 shares changing hands.

Analyst Ratings Changes

HBM has been the subject of a number of research analyst reports. Raymond James Financial reaffirmed an “outperform” rating on shares of HudBay Minerals in a research report on Friday, October 10th. Scotiabank restated an “outperform” rating on shares of HudBay Minerals in a research note on Tuesday, October 28th. The Goldman Sachs Group started coverage on shares of HudBay Minerals in a research note on Monday, September 8th. They issued a “buy” rating on the stock. Zacks Research cut shares of HudBay Minerals from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 11th. Finally, National Bankshares restated an “outperform” rating on shares of HudBay Minerals in a report on Thursday, August 14th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, HudBay Minerals currently has an average rating of “Buy” and an average price target of $19.50.

HudBay Minerals Trading Down 0.3%

The company has a debt-to-equity ratio of 0.18, a current ratio of 0.97 and a quick ratio of 0.76. The business’s 50-day moving average price is $16.04 and its two-hundred day moving average price is $12.54. The company has a market capitalization of $6.87 billion, a price-to-earnings ratio of 14.95 and a beta of 1.39.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last issued its quarterly earnings results on Wednesday, November 12th. The mining company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.03). HudBay Minerals had a return on equity of 8.89% and a net margin of 22.38%.The company had revenue of $346.80 million for the quarter, compared to analyst estimates of $538.16 million. During the same period in the prior year, the company earned $0.13 EPS. The company’s quarterly revenue was down 28.6% compared to the same quarter last year. Research analysts predict that HudBay Minerals Inc will post 0.79 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. GMT Capital Corp bought a new stake in shares of HudBay Minerals during the 2nd quarter worth $337,809,000. Vanguard Group Inc. raised its stake in HudBay Minerals by 2.4% during the third quarter. Vanguard Group Inc. now owns 16,198,255 shares of the mining company’s stock worth $245,355,000 after acquiring an additional 373,399 shares in the last quarter. L1 Capital Pty Ltd lifted its holdings in shares of HudBay Minerals by 4.4% in the second quarter. L1 Capital Pty Ltd now owns 15,054,087 shares of the mining company’s stock worth $159,864,000 after acquiring an additional 630,703 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of HudBay Minerals by 2.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,993,620 shares of the mining company’s stock worth $113,657,000 after acquiring an additional 331,121 shares during the last quarter. Finally, Hancock Prospecting Pty Ltd acquired a new stake in shares of HudBay Minerals in the 2nd quarter valued at approximately $154,359,000. 57.82% of the stock is currently owned by institutional investors and hedge funds.

HudBay Minerals Company Profile

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.