Hudbay Minerals Inc. (NYSE:HBM) Receives $9.75 Average Price Target from Analysts

Shares of Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) have been given a consensus rating of “Buy” by the eight ratings firms that are presently covering the company, Marketbeat.com reports. Eight research analysts have rated the stock with a buy recommendation. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $9.75.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of HBM. Donald Smith & CO. Inc. lifted its stake in Hudbay Minerals by 475.3% in the 4th quarter. Donald Smith & CO. Inc. now owns 4,602,687 shares of the mining company’s stock valued at $25,407,000 after buying an additional 3,802,687 shares in the last quarter. Morgan Stanley lifted its stake in Hudbay Minerals by 517.8% in the 4th quarter. Morgan Stanley now owns 3,543,730 shares of the mining company’s stock worth $17,967,000 after purchasing an additional 2,970,160 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd purchased a new position in Hudbay Minerals in the 4th quarter worth approximately $14,618,000. Invesco Ltd. lifted its stake in Hudbay Minerals by 60.2% in the 3rd quarter. Invesco Ltd. now owns 6,998,581 shares of the mining company’s stock worth $34,083,000 after purchasing an additional 2,630,780 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its stake in Hudbay Minerals by 96.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 5,000,946 shares of the mining company’s stock worth $25,269,000 after purchasing an additional 2,460,627 shares in the last quarter. 57.82% of the stock is owned by hedge funds and other institutional investors.

Hudbay Minerals Stock Performance

Shares of HBM opened at $7.57 on Friday. The company has a current ratio of 1.25, a quick ratio of 0.87 and a debt-to-equity ratio of 0.61. The stock has a fifty day moving average price of $6.43 and a 200-day moving average price of $5.45. Hudbay Minerals has a 12 month low of $3.94 and a 12 month high of $8.11. The firm has a market cap of $2.65 billion, a PE ratio of 37.83, a P/E/G ratio of 0.75 and a beta of 1.95.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last released its earnings results on Friday, February 23rd. The mining company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $552.74 million. During the same period in the prior year, the firm earned $0.01 EPS. The firm’s revenue was up 87.5% on a year-over-year basis. Equities research analysts predict that Hudbay Minerals will post 0.44 earnings per share for the current fiscal year.

Hudbay Minerals Cuts Dividend

The company also recently announced 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. This represents a dividend yield of 0.3%. The ex-dividend date was Monday, March 4th. Hudbay Minerals’s payout ratio is currently 5.00%.

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.