Hudbay Minerals Inc. (NYSE:HBM) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) have received an average rating of “Moderate Buy” from the nine analysts that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $10.21.

A number of equities analysts recently issued reports on the company. Bank of America upgraded Hudbay Minerals from a “neutral” rating to a “buy” rating and set a $9.00 target price on the stock in a report on Tuesday, April 9th. Raymond James raised their price objective on Hudbay Minerals from $9.00 to $10.50 and gave the company an “outperform” rating in a research note on Wednesday, March 20th. StockNews.com upgraded Hudbay Minerals from a “hold” rating to a “buy” rating in a research note on Friday, March 29th. Jefferies Financial Group began coverage on Hudbay Minerals in a research note on Friday, May 3rd. They set a “hold” rating and a $13.00 price objective on the stock. Finally, Stifel Nicolaus began coverage on Hudbay Minerals in a research note on Tuesday, March 26th. They set a “buy” rating on the stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Hiddenite Capital Partners LP bought a new stake in Hudbay Minerals in the 1st quarter worth approximately $1,400,000. Russell Investments Group Ltd. lifted its position in Hudbay Minerals by 88.8% in the 1st quarter. Russell Investments Group Ltd. now owns 281,015 shares of the mining company’s stock worth $1,969,000 after buying an additional 132,142 shares during the last quarter. Swiss National Bank lifted its position in Hudbay Minerals by 1.4% in the 1st quarter. Swiss National Bank now owns 695,600 shares of the mining company’s stock worth $4,867,000 after buying an additional 9,600 shares during the last quarter. Jennison Associates LLC lifted its position in Hudbay Minerals by 92.7% in the 1st quarter. Jennison Associates LLC now owns 2,821,920 shares of the mining company’s stock worth $19,757,000 after buying an additional 1,357,241 shares during the last quarter. Finally, Hartree Partners LP lifted its position in Hudbay Minerals by 34.6% in the 1st quarter. Hartree Partners LP now owns 161,626 shares of the mining company’s stock worth $1,131,000 after buying an additional 41,537 shares during the last quarter. Hedge funds and other institutional investors own 57.82% of the company’s stock.

Hudbay Minerals Trading Down 0.4 %

HBM opened at $8.45 on Thursday. The company has a fifty day moving average price of $7.32 and a two-hundred day moving average price of $5.85. Hudbay Minerals has a 1-year low of $3.94 and a 1-year high of $8.85. The company has a market cap of $2.96 billion, a P/E ratio of 42.23, a price-to-earnings-growth ratio of 0.91 and a beta of 1.88. The company has a current ratio of 1.25, a quick ratio of 0.87 and a debt-to-equity ratio of 0.61.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last announced its quarterly earnings data on Friday, February 23rd. The mining company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.06. Hudbay Minerals had a return on equity of 3.86% and a net margin of 3.95%. The firm had revenue of $602.20 million during the quarter, compared to analysts’ expectations of $552.74 million. During the same quarter last year, the firm posted $0.01 earnings per share. The company’s revenue for the quarter was up 87.5% compared to the same quarter last year. Analysts predict that Hudbay Minerals will post 0.4 EPS for the current fiscal 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 issued a dividend of $0.0074 per share. This represents a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, March 4th. Hudbay Minerals’s payout ratio is 5.00%.

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.