Analysts Set HudBay Minerals Inc (NYSE:HBM) PT at $31.33

HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) has received an average rating of “Moderate Buy” from the thirteen research firms that are presently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $31.3333.

HBM has been the topic of several research reports. Wall Street Zen upgraded HudBay Minerals from a “hold” rating to a “buy” rating in a report on Monday, July 20th. Scotiabank reiterated an “outperform” rating on shares of HudBay Minerals in a report on Thursday, June 25th. Citigroup reiterated a “positive” rating on shares of HudBay Minerals in a report on Wednesday, July 15th. Jefferies Financial Group reaffirmed a “buy” rating on shares of HudBay Minerals in a research report on Monday, July 6th. Finally, Barclays upped their target price on HudBay Minerals from $30.00 to $32.00 and gave the company an “overweight” rating in a research report on Wednesday, July 15th.

HudBay Minerals Price Performance

HBM opened at $22.36 on Thursday. The business has a fifty day moving average of $24.86 and a 200 day moving average of $24.10. HudBay Minerals has a 52-week low of $8.93 and a 52-week high of $32.15. The company has a quick ratio of 1.20, a current ratio of 1.36 and a debt-to-equity ratio of 0.14. The stock has a market cap of $9.93 billion, a P/E ratio of 13.47, a PEG ratio of 0.34 and a beta of 1.48.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last announced its quarterly earnings data on Friday, May 1st. The mining company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.34 by $0.06. HudBay Minerals had a return on equity of 10.04% and a net margin of 27.75%.The company had revenue of $757.30 million for the quarter, compared to the consensus estimate of $684.73 million. During the same quarter in the prior year, the company posted $0.24 EPS. HudBay Minerals’s quarterly revenue was up 27.3% on a year-over-year basis. As a group, sell-side analysts anticipate that HudBay Minerals will post 1.6 EPS for the current year.

HudBay Minerals Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Tuesday, June 9th were paid a dividend of $0.01 per share. The ex-dividend date was Tuesday, June 9th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.2%. HudBay Minerals’s payout ratio is presently 1.81%.

Hedge Funds Weigh In On HudBay Minerals

Several hedge funds and other institutional investors have recently modified their holdings of HBM. Waterfront Wealth Inc. grew its position in HudBay Minerals by 1.0% during the 4th quarter. Waterfront Wealth Inc. now owns 39,451 shares of the mining company’s stock worth $783,000 after purchasing an additional 399 shares during the last quarter. Strong Tower Advisory Services raised its holdings in shares of HudBay Minerals by 0.6% in the fourth quarter. Strong Tower Advisory Services now owns 94,762 shares of the mining company’s stock worth $1,881,000 after buying an additional 587 shares during the last quarter. Quantinno Capital Management LP lifted its stake in shares of HudBay Minerals by 6.0% during the first quarter. Quantinno Capital Management LP now owns 11,597 shares of the mining company’s stock worth $242,000 after buying an additional 657 shares during the period. Vontobel Holding Ltd. lifted its stake in shares of HudBay Minerals by 0.6% during the fourth quarter. Vontobel Holding Ltd. now owns 126,090 shares of the mining company’s stock worth $2,503,000 after buying an additional 738 shares during the period. Finally, Rockefeller Capital Management L.P. lifted its position in HudBay Minerals by 25.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 4,933 shares of the mining company’s stock worth $98,000 after acquiring an additional 986 shares during the period. 57.82% of the stock is owned by hedge funds and other institutional investors.

About HudBay Minerals

HudBay Minerals Inc is a Canada-based mining company engaged in the exploration, development and production of base and precious metals. Its primary products include copper, zinc, gold and silver concentrates, which are sold to smelters and refiners worldwide. The company’s operations span multiple stages of the mining cycle, from resource definition and feasibility studies to mine construction, extraction and reclamation.

The company traces its roots back to 1927, when it was established as Hudson Bay Mining & Smelting Co Limited.