Brokerages Set Hudbay Minerals Inc. (NYSE:HBM) Price Target at $11.17

Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) has received a consensus rating of “Buy” from the six research firms that are covering the company, MarketBeat.com reports. Four equities research analysts have rated the stock with a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $11.17.

Several analysts have issued reports on HBM shares. StockNews.com downgraded Hudbay Minerals from a “buy” rating to a “hold” rating in a research note on Tuesday, August 13th. Stifel Canada raised Hudbay Minerals to a “strong-buy” rating in a research report on Monday, July 22nd. Finally, Jefferies Financial Group raised Hudbay Minerals from a “hold” rating to a “buy” rating in a research report on Wednesday, August 14th.

Hudbay Minerals Stock Performance

Shares of Hudbay Minerals stock opened at $9.06 on Thursday. The company has a market capitalization of $3.57 billion, a PE ratio of 39.39 and a beta of 1.78. Hudbay Minerals has a 12 month low of $3.94 and a 12 month high of $10.49. The company has a current ratio of 1.86, a quick ratio of 1.49 and a debt-to-equity ratio of 0.47. The stock’s fifty day simple moving average is $8.55 and its 200 day simple moving average is $8.61.

Hudbay Minerals Cuts Dividend

The company also recently disclosed a Semi-Annual dividend, which was paid on Friday, September 20th. Stockholders of record on Tuesday, September 3rd were issued a dividend of $0.007 per share. This represents a dividend yield of 0.2%. The ex-dividend date was Tuesday, September 3rd. Hudbay Minerals’s dividend payout ratio is presently 4.35%.

Institutional Investors Weigh In On Hudbay Minerals

Several institutional investors have recently made changes to their positions in HBM. CWA Asset Management Group LLC acquired a new position in Hudbay Minerals during the third quarter valued at approximately $527,000. Old West Investment Management LLC raised its position in Hudbay Minerals by 100.0% during the third quarter. Old West Investment Management LLC now owns 450,000 shares of the mining company’s stock valued at $4,136,000 after purchasing an additional 225,000 shares in the last quarter. Van ECK Associates Corp raised its position in Hudbay Minerals by 0.4% during the third quarter. Van ECK Associates Corp now owns 451,628 shares of the mining company’s stock valued at $4,213,000 after purchasing an additional 1,960 shares in the last quarter. Donald Smith & CO. Inc. raised its position in Hudbay Minerals by 31.9% during the third quarter. Donald Smith & CO. Inc. now owns 3,748,780 shares of the mining company’s stock valued at $34,451,000 after purchasing an additional 906,417 shares in the last quarter. Finally, Galibier Capital Management Ltd. increased its holdings in shares of Hudbay Minerals by 23.2% during the third quarter. Galibier Capital Management Ltd. now owns 2,521,108 shares of the mining company’s stock worth $23,215,000 after buying an additional 474,958 shares in the last quarter. 57.82% of the stock is currently owned by institutional investors.

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.