CIBC upgraded shares of Hudbay Minerals (NYSE:HBM) (TSE:HBM) from a neutral rating to a sector outperform rating in a research report sent to investors on Wednesday morning, BenzingaRatingsTable reports. CIBC currently has $8.00 target price on the mining company’s stock, up from their previous target price of $5.00.

Other equities analysts have also recently issued research reports about the company. Zacks Investment Research upgraded Hudbay Minerals from a strong sell rating to a hold rating in a report on Friday, October 18th. ValuEngine upgraded Hudbay Minerals from a hold rating to a buy rating in a report on Friday, January 3rd. Finally, Scotiabank cut Hudbay Minerals from an outperform rating to a sector perform rating in a report on Tuesday, November 12th. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Hudbay Minerals has an average rating of Hold and an average price target of $8.15.

HBM traded up $0.01 during midday trading on Wednesday, reaching $3.41. 70,436 shares of the company were exchanged, compared to its average volume of 801,902. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.61 and a current ratio of 2.09. Hudbay Minerals has a one year low of $2.99 and a one year high of $7.83. The stock has a market capitalization of $889.62 million, a P/E ratio of -2.59 and a beta of 3.08. The stock’s 50-day simple moving average is $3.84 and its 200 day simple moving average is $3.80.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last issued its earnings results on Monday, November 11th. The mining company reported ($0.08) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.06) by ($0.02). Hudbay Minerals had a negative return on equity of 0.71% and a negative net margin of 27.35%. The company had revenue of $291.28 million for the quarter, compared to the consensus estimate of $295.75 million. During the same quarter last year, the business posted $0.09 EPS. Hudbay Minerals’s quarterly revenue was down 19.7% on a year-over-year basis. On average, research analysts anticipate that Hudbay Minerals will post -0.15 earnings per share for the current year.

Several large investors have recently added to or reduced their stakes in HBM. FMR LLC bought a new position in shares of Hudbay Minerals during the 1st quarter valued at about $880,000. Vanguard Group Inc. lifted its holdings in shares of Hudbay Minerals by 2.2% during the 2nd quarter. Vanguard Group Inc. now owns 6,371,000 shares of the mining company’s stock valued at $34,468,000 after purchasing an additional 137,274 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Hudbay Minerals by 28.3% during the 2nd quarter. Invesco Ltd. now owns 63,947 shares of the mining company’s stock valued at $346,000 after purchasing an additional 14,108 shares in the last quarter. Marshall Wace North America L.P. bought a new position in shares of Hudbay Minerals during the 2nd quarter valued at about $222,000. Finally, Morgan Stanley lifted its holdings in shares of Hudbay Minerals by 26.1% during the 2nd quarter. Morgan Stanley now owns 704,910 shares of the mining company’s stock valued at $3,815,000 after purchasing an additional 146,044 shares in the last quarter. Institutional investors and hedge funds own 62.33% of the company’s stock.

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 three polymetallic mines, four ore concentrators, and a zinc production facility in northern Manitoba and Saskatchewan, Canada, as well as in Cusco, Peru; and copper projects in Arizona and Nevada, the United States.

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Analyst Recommendations for Hudbay Minerals (NYSE:HBM)

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