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

Shares of Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) have been given an average rating of “Moderate Buy” by the nine brokerages that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $10.21.

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

Hudbay Minerals Stock Performance

Shares of NYSE:HBM opened at $8.45 on Thursday. The business has a fifty day moving average of $7.32 and a 200-day moving average of $5.85. 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 has a twelve month low of $3.94 and a twelve month high of $8.85. The firm has a market cap of $2.96 billion, a PE ratio of 42.23, a price-to-earnings-growth ratio of 0.91 and a beta of 1.88.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last posted its quarterly earnings data on Friday, February 23rd. The mining company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.06. Hudbay Minerals had a net margin of 3.95% and a return on equity of 3.86%. 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 company posted $0.01 EPS. The company’s quarterly revenue was up 87.5% compared to the same quarter last year. On average, equities research analysts predict that Hudbay Minerals will post 0.4 EPS for the current fiscal year.

Hudbay Minerals Cuts Dividend

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

Institutional Trading of Hudbay Minerals

Several hedge funds have recently added to or reduced their stakes in the business. Register Financial Advisors LLC acquired a new stake in Hudbay Minerals in the 1st quarter valued at approximately $35,000. Banque Cantonale Vaudoise lifted its holdings 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 in the last quarter. Ballentine Partners LLC bought a new stake in Hudbay Minerals in the 1st quarter valued at about $85,000. Bank of Nova Scotia boosted its stake in shares of Hudbay Minerals by 19.1% in the third quarter. Bank of Nova Scotia now owns 24,843 shares of the mining company’s stock valued at $121,000 after buying an additional 3,979 shares during the period. Finally, Shell Asset Management Co. lifted its position in shares of Hudbay Minerals by 38.6% during the 3rd quarter. Shell Asset Management Co. now owns 26,189 shares of the mining company’s stock valued at $128,000 after acquiring an additional 7,300 shares during the period. Institutional investors and hedge funds 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.