Hudbay Minerals Inc. (NYSE:HBM) Given Average Rating of “Buy” by Analysts

Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) has been given an average recommendation of “Buy” by the six brokerages that are currently covering the company, MarketBeat Ratings reports. Six investment analysts have rated the stock with a buy recommendation. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $9.55.

A number of equities research analysts have recently commented on HBM shares. Royal Bank of Canada reiterated an “outperform” rating and set a $10.00 price target on shares of Hudbay Minerals in a report on Monday, October 2nd. Scotiabank lifted their target price on shares of Hudbay Minerals from $10.00 to $10.50 and gave the stock a “sector outperform” rating in a research note on Tuesday, September 19th. StockNews.com began coverage on Hudbay Minerals in a research note on Thursday, October 5th. They set a “hold” rating on the stock. Credit Suisse Group lowered their price objective on Hudbay Minerals from $9.00 to $8.00 and set an “outperform” rating for the company in a research report on Monday, August 21st. Finally, TD Securities dropped their target price on Hudbay Minerals from $11.00 to $10.50 and set a “buy” rating for the company in a research note on Tuesday, September 12th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Jennison Associates LLC increased its stake in Hudbay Minerals by 18.5% during the 3rd quarter. Jennison Associates LLC now owns 1,324,367 shares of the mining company’s stock worth $6,451,000 after buying an additional 206,601 shares during the period. CIBC Asset Management Inc increased its position in shares of Hudbay Minerals by 60.3% during the third quarter. CIBC Asset Management Inc now owns 344,750 shares of the mining company’s stock worth $1,683,000 after acquiring an additional 129,733 shares during the last quarter. TD Asset Management Inc lifted its stake in shares of Hudbay Minerals by 9.0% in the third quarter. TD Asset Management Inc now owns 953,290 shares of the mining company’s stock worth $4,661,000 after acquiring an additional 78,493 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Hudbay Minerals by 6.9% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,290,344 shares of the mining company’s stock valued at $35,643,000 after purchasing an additional 467,872 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Hudbay Minerals by 23.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 66,986 shares of the mining company’s stock valued at $327,000 after purchasing an additional 12,748 shares during the last quarter. 60.26% of the stock is currently owned by hedge funds and other institutional investors.

Hudbay Minerals Price Performance

Shares of NYSE:HBM opened at $4.67 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.53 and a current ratio of 0.90. The business’s fifty day moving average price is $4.66 and its two-hundred day moving average price is $4.88. The stock has a market cap of $1.63 billion, a PE ratio of -35.92, a price-to-earnings-growth ratio of 0.69 and a beta of 1.98. Hudbay Minerals has a one year low of $4.12 and a one year high of $6.34.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last posted its quarterly earnings data on Tuesday, August 8th. The mining company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.10). The company had revenue of $312.17 million for the quarter, compared to analyst estimates of $343.25 million. Hudbay Minerals had a negative net margin of 2.75% and a negative return on equity of 1.59%. On average, analysts forecast that Hudbay Minerals will post 0.22 EPS for the current fiscal year.

Hudbay Minerals Announces Dividend

The company also recently disclosed a Semi-Annual dividend, which was paid on Friday, September 22nd. Stockholders of record on Friday, September 1st were paid a dividend of $0.008 per share. The ex-dividend date of this dividend was Thursday, August 31st. This represents a dividend yield of 0.3%. Hudbay Minerals’s dividend payout ratio is currently -7.69%.

About Hudbay Minerals

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 copper, gold, and silver; zinc concentrates; zinc metal; and gold and silver doré and molybdenum concentrates.