Hudbay Minerals Inc. (NYSE:HBM) Receives $11.50 Consensus Target Price from Brokerages

Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) has received an average recommendation of “Buy” from the five brokerages that are currently covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $11.50.

Several equities research analysts recently weighed in on HBM shares. Desjardins initiated coverage on shares of Hudbay Minerals in a research note on Friday. They set a “buy” rating on the stock. StockNews.com upgraded Hudbay Minerals from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Finally, Stifel Canada raised Hudbay Minerals to a “strong-buy” rating in a report on Wednesday, March 19th.

Institutional Investors Weigh In On Hudbay Minerals

Several large investors have recently made changes to their positions in HBM. Norges Bank bought a new position in Hudbay Minerals in the 4th quarter worth approximately $50,260,000. Dimensional Fund Advisors LP boosted its position in Hudbay Minerals by 86.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 9,149,134 shares of the mining company’s stock worth $74,105,000 after acquiring an additional 4,253,400 shares during the period. Price T Rowe Associates Inc. MD bought a new position in shares of Hudbay Minerals in the fourth quarter worth $17,657,000. American Century Companies Inc. increased its holdings in shares of Hudbay Minerals by 102.4% during the fourth quarter. American Century Companies Inc. now owns 4,275,895 shares of the mining company’s stock valued at $34,684,000 after purchasing an additional 2,163,000 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its stake in shares of Hudbay Minerals by 111.8% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,777,571 shares of the mining company’s stock valued at $30,602,000 after purchasing an additional 1,994,431 shares in the last quarter. Institutional investors and hedge funds own 57.82% of the company’s stock.

Hudbay Minerals Price Performance

Shares of NYSE HBM opened at $6.30 on Friday. The company has a current ratio of 1.86, a quick ratio of 1.47 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $2.49 billion, a price-to-earnings ratio of 34.97 and a beta of 1.62. Hudbay Minerals has a twelve month low of $6.04 and a twelve month high of $10.49. The business has a 50 day simple moving average of $7.94 and a 200-day simple moving average of $8.54.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last released its earnings results on Wednesday, February 19th. The mining company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.02). Hudbay Minerals had a net margin of 3.80% and a return on equity of 7.29%. The business had revenue of $584.90 million for the quarter, compared to the consensus estimate of $588.28 million. During the same quarter in the previous year, the firm earned $0.20 EPS. The firm’s revenue for the quarter was down 2.9% on a year-over-year basis. As a group, equities research analysts expect that Hudbay Minerals will post 0.79 earnings per share for the current year.

Hudbay Minerals Increases Dividend

The company also recently announced a semi-annual dividend, which was paid on Friday, March 21st. Shareholders of record on Tuesday, March 4th were paid a dividend of $0.007 per share. This represents a yield of 0.2%. This is a positive change from Hudbay Minerals’s previous semi-annual dividend of $0.01. The ex-dividend date was Tuesday, March 4th. Hudbay Minerals’s payout ratio is presently 5.56%.

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.