Analysts Set Hudbay Minerals Inc. (NYSE:HBM) PT at $9.75

Shares of Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) have received a consensus rating of “Buy” from the eight analysts that are presently covering the stock, MarketBeat.com reports. Eight analysts have rated the stock with a buy rating. The average 12 month price objective among brokers that have covered the stock in the last year is $9.75.

Several analysts have commented on HBM shares. StockNews.com raised shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a research note on Friday, March 29th. Bank of America raised shares of Hudbay Minerals from a “neutral” rating to a “buy” rating and set a $9.00 target price for the company in a research note on Tuesday, April 9th. Raymond James lifted their target price on shares of Hudbay Minerals from $9.00 to $10.50 and gave the stock an “outperform” rating in a research note on Wednesday, March 20th. Finally, Stifel Nicolaus started coverage on shares of Hudbay Minerals in a research note on Tuesday, March 26th. They issued a “buy” rating for the company.

Hudbay Minerals Price Performance

Shares of HBM opened at $7.57 on Friday. Hudbay Minerals has a fifty-two week low of $3.94 and a fifty-two week high of $8.11. The company has a market capitalization of $2.65 billion, a price-to-earnings ratio of 37.83, a price-to-earnings-growth ratio of 0.75 and a beta of 1.95. The firm has a 50-day simple moving average of $6.43 and a 200-day simple moving average of $5.45. 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 posted its quarterly 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 the consensus estimate of $552.74 million. During the same period last year, the firm earned $0.01 EPS. The company’s revenue for the quarter was up 87.5% on a year-over-year basis. On average, equities research analysts anticipate that Hudbay Minerals will post 0.44 earnings per share for the current year.

Hudbay Minerals Cuts Dividend

The business also recently announced a semi-annual dividend, which was paid on Friday, March 22nd. Shareholders of record on Tuesday, March 5th were given a $0.0074 dividend. The ex-dividend date was Monday, March 4th. This represents a yield of 0.3%. Hudbay Minerals’s payout ratio is 5.00%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Banque Cantonale Vaudoise raised its stake in shares of Hudbay Minerals by 38.7% during the first quarter. Banque Cantonale Vaudoise now owns 6,471 shares of the mining company’s stock worth $45,000 after buying an additional 1,806 shares during the last quarter. Wells Fargo & Company MN grew its holdings in Hudbay Minerals by 29.7% during the second quarter. Wells Fargo & Company MN now owns 10,043 shares of the mining company’s stock valued at $48,000 after purchasing an additional 2,300 shares during the period. Bank of New York Mellon Corp grew its holdings in Hudbay Minerals by 22.2% during the second quarter. Bank of New York Mellon Corp now owns 12,916 shares of the mining company’s stock valued at $62,000 after purchasing an additional 2,350 shares during the period. Legal & General Group Plc grew its holdings in Hudbay Minerals by 1.0% during the third quarter. Legal & General Group Plc now owns 248,094 shares of the mining company’s stock valued at $1,213,000 after purchasing an additional 2,520 shares during the period. Finally, Barclays PLC grew its holdings in Hudbay Minerals by 5.8% during the fourth quarter. Barclays PLC now owns 66,840 shares of the mining company’s stock valued at $369,000 after purchasing an additional 3,686 shares during the period. Institutional investors own 57.82% of the company’s stock.

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.