HudBay Minerals Inc (NYSE:HBM) Receives $19.50 Average Target Price from Brokerages

Shares of HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) have been assigned a consensus rating of “Buy” from the thirteen brokerages that are covering the company, MarketBeat reports. Ten analysts have rated the stock with a buy recommendation and three have assigned a strong buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $19.50.

A number of equities research analysts recently weighed in on the stock. Wall Street Zen raised shares of HudBay Minerals from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, September 10th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of HudBay Minerals in a research note on Wednesday, October 8th. Veritas upgraded shares of HudBay Minerals to a “strong-buy” rating in a research report on Monday, July 7th. Royal Bank Of Canada restated an “outperform” rating on shares of HudBay Minerals in a research report on Thursday, August 14th. Finally, National Bankshares restated an “outperform” rating on shares of HudBay Minerals in a research report on Thursday, August 14th.

HudBay Minerals Trading Up 2.2%

Shares of HBM stock opened at $15.43 on Tuesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.86 and a current ratio of 1.03. HudBay Minerals has a 52-week low of $5.95 and a 52-week high of $17.73. The company has a market capitalization of $6.11 billion, a PE ratio of 21.13 and a beta of 1.55. The business’s fifty day moving average is $13.99 and its 200 day moving average is $10.71.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last issued its quarterly earnings data on Wednesday, August 13th. The mining company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.08. HudBay Minerals had a return on equity of 10.73% and a net margin of 13.13%.The company had revenue of $536.40 million for the quarter, compared to the consensus estimate of $558.21 million. The company’s revenue for the quarter was up 26.1% compared to the same quarter last year. On average, equities research analysts anticipate that HudBay Minerals will post 0.79 EPS for the current fiscal year.

HudBay Minerals Increases Dividend

The company also recently declared a semi-annual dividend, which was paid on Friday, September 19th. Shareholders of record on Tuesday, September 2nd were given a dividend of $0.0073 per share. The ex-dividend date was Tuesday, September 2nd. This is a positive change from HudBay Minerals’s previous semi-annual dividend of $0.01. This represents a yield of 17.0%. HudBay Minerals’s dividend payout ratio (DPR) is 1.37%.

Hedge Funds Weigh In On HudBay Minerals

A number of large investors have recently modified their holdings of the company. GMT Capital Corp purchased a new position in shares of HudBay Minerals during the 2nd quarter valued at about $337,809,000. Vanguard Group Inc. raised its stake in shares of HudBay Minerals by 0.9% during the first quarter. Vanguard Group Inc. now owns 15,398,817 shares of the mining company’s stock worth $116,738,000 after acquiring an additional 131,012 shares in the last quarter. L1 Capital Pty Ltd raised its stake in shares of HudBay Minerals by 4.4% during the second quarter. L1 Capital Pty Ltd now owns 15,054,087 shares of the mining company’s stock worth $159,864,000 after acquiring an additional 630,703 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in HudBay Minerals by 2.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,993,620 shares of the mining company’s stock worth $113,657,000 after purchasing an additional 331,121 shares during the period. Finally, Hancock Prospecting Pty Ltd purchased a new position in HudBay Minerals in the 2nd quarter worth approximately $154,359,000. 57.82% of the stock is owned by hedge funds and other 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.