Stifel Nicolaus Begins Coverage on Hudbay Minerals (NYSE:HBM)

Stifel Nicolaus started coverage on shares of Hudbay Minerals (NYSE:HBM) (TSE:HBM) in a research note published on Tuesday, StockNewsAPI reports. The firm issued a buy rating on the mining company’s stock.

Separately, Raymond James increased their target price on shares of Hudbay Minerals from $9.00 to $10.50 and gave the company an outperform rating in a report on Wednesday, March 20th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Hudbay Minerals presently has an average rating of Moderate Buy and an average price target of $9.90.

Hudbay Minerals Price Performance

Shares of NYSE:HBM opened at $7.00 on Tuesday. The company has a quick ratio of 0.87, a current ratio of 1.25 and a debt-to-equity ratio of 0.61. The company has a market cap of $2.46 billion, a P/E ratio of 35.00, a PEG ratio of 1.33 and a beta of 1.94. Hudbay Minerals has a 52 week low of $3.94 and a 52 week high of $7.10. The company has a 50-day moving average price of $5.92 and a 200 day moving average price of $5.20.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last issued its earnings results on Friday, February 23rd. The mining company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.06. Hudbay Minerals had a net margin of 3.95% and a return on equity of 3.86%. The company had revenue of $602.20 million during the quarter, compared to analysts’ expectations of $552.74 million. During the same period last year, the company posted $0.01 earnings per share. The firm’s quarterly revenue was up 87.5% compared to the same quarter last year. Research analysts predict that Hudbay Minerals will post 0.39 earnings per share for the current year.

Hudbay Minerals Cuts Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Friday, March 22nd. Stockholders of record on Tuesday, March 5th were paid a dividend of $0.0074 per share. The ex-dividend date of this dividend was Monday, March 4th. This represents a dividend yield of 0.3%. Hudbay Minerals’s dividend payout ratio (DPR) is 5.00%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Goldman Sachs Group Inc. increased its stake in shares of Hudbay Minerals by 8.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,332,155 shares of the mining company’s stock worth $12,873,000 after purchasing an additional 184,507 shares in the last quarter. Legal & General Group Plc increased its stake in shares of Hudbay Minerals by 5.6% during the 4th quarter. Legal & General Group Plc now owns 261,894 shares of the mining company’s stock worth $1,448,000 after purchasing an additional 13,800 shares in the last quarter. Barclays PLC increased its stake in shares of Hudbay Minerals by 5.8% during the 4th quarter. Barclays PLC now owns 66,840 shares of the mining company’s stock worth $369,000 after purchasing an additional 3,686 shares in the last quarter. Voloridge Investment Management LLC purchased a new position in shares of Hudbay Minerals during the 4th quarter worth approximately $689,000. Finally, Vident Advisory LLC increased its stake in shares of Hudbay Minerals by 68.5% during the 4th quarter. Vident Advisory LLC now owns 111,792 shares of the mining company’s stock worth $617,000 after purchasing an additional 45,438 shares in the last quarter. 57.82% of the stock is owned by hedge funds and other institutional investors.

Hudbay Minerals Company Profile

Hudbay Minerals Inc, a diversified mining company, together with its subsidiaries, 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.