Brokerages Set Hudbay Minerals Inc. (NYSE:HBM) PT at $14.00

Shares of Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) have been assigned a consensus rating of “Buy” from the five brokerages that are covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price target among brokers that have covered the stock in the last year is $14.00.

A number of brokerages have recently issued reports on HBM. StockNews.com upgraded shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. BMO Capital Markets began coverage on shares of Hudbay Minerals in a research report on Wednesday, April 16th. They issued an “outperform” rating on the stock. Stifel Canada upgraded shares of Hudbay Minerals to a “strong-buy” rating in a research report on Wednesday, March 19th. Finally, Desjardins began coverage on shares of Hudbay Minerals in a research report on Friday, April 4th. They issued a “buy” rating on the stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Ballentine Partners LLC lifted its position in shares of Hudbay Minerals by 29.6% during the 1st quarter. Ballentine Partners LLC now owns 26,989 shares of the mining company’s stock valued at $205,000 after acquiring an additional 6,169 shares during the period. Alps Advisors Inc. raised its holdings in Hudbay Minerals by 6.2% during the first quarter. Alps Advisors Inc. now owns 176,316 shares of the mining company’s stock worth $1,338,000 after buying an additional 10,346 shares during the last quarter. Goehring & Rozencwajg Associates LLC raised its holdings in Hudbay Minerals by 2.2% during the first quarter. Goehring & Rozencwajg Associates LLC now owns 797,648 shares of the mining company’s stock worth $6,628,000 after buying an additional 17,361 shares during the last quarter. Waterfront Wealth Inc. acquired a new position in Hudbay Minerals during the first quarter worth $321,000. Finally, Sumitomo Mitsui Trust Group Inc. raised its holdings in Hudbay Minerals by 142.8% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 100,303 shares of the mining company’s stock worth $761,000 after buying an additional 58,999 shares during the last quarter. Institutional investors and hedge funds own 57.82% of the company’s stock.

Hudbay Minerals Price Performance

Hudbay Minerals stock opened at $7.30 on Tuesday. The firm has a market cap of $2.88 billion, a P/E ratio of 40.53 and a beta of 1.62. The stock’s 50 day moving average is $7.29 and its 200 day moving average is $8.26. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.86 and a quick ratio of 1.47. Hudbay Minerals has a one year low of $5.95 and a one year high of $10.49.

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

Hudbay Minerals Increases Dividend

The business also recently announced a semi-annual dividend, which was paid on Friday, March 21st. Investors of record on Tuesday, March 4th were given a dividend of $0.007 per share. This represents a dividend yield of 0.2%. The ex-dividend date of this dividend was Tuesday, March 4th. This is an increase from Hudbay Minerals’s previous semi-annual dividend of $0.01. 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.