HudBay Minerals Inc (NYSE:HBM) Receives $26.00 Consensus Price Target from Analysts

HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) has received an average rating of “Moderate Buy” from the fifteen analysts that are covering the company, Marketbeat reports. Two analysts have rated the stock with a hold recommendation, twelve have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $26.00.

A number of brokerages recently weighed in on HBM. Jefferies Financial Group reiterated a “buy” rating on shares of HudBay Minerals in a research report on Sunday, December 7th. Wall Street Zen downgraded shares of HudBay Minerals from a “buy” rating to a “hold” rating in a research note on Sunday, March 1st. Weiss Ratings upgraded shares of HudBay Minerals from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, February 10th. National Bank Financial cut shares of HudBay Minerals from an “outperform” rating to a “sector perform” rating in a research report on Wednesday, January 28th. Finally, UBS Group started coverage on shares of HudBay Minerals in a report on Thursday, January 8th. They issued a “buy” rating for the company.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. GMT Capital Corp acquired a new stake in shares of HudBay Minerals during the second quarter worth about $337,809,000. FIL Ltd grew its position in shares of HudBay Minerals by 202.0% in the 4th quarter. FIL Ltd now owns 33,143,172 shares of the mining company’s stock valued at $658,010,000 after purchasing an additional 22,169,339 shares during the period. Hancock Prospecting Pty Ltd bought a new stake in HudBay Minerals during the 2nd quarter worth approximately $154,359,000. Arrowstreet Capital Limited Partnership bought a new stake in HudBay Minerals during the 3rd quarter worth approximately $123,736,000. Finally, Picton Mahoney Asset Management bought a new stake in HudBay Minerals during the 2nd quarter worth approximately $61,432,000. 57.82% of the stock is owned by institutional investors and hedge funds.

HudBay Minerals Trading Down 3.2%

NYSE HBM opened at $18.05 on Friday. HudBay Minerals has a 12 month low of $5.95 and a 12 month high of $28.74. The stock has a 50-day simple moving average of $24.23 and a 200 day simple moving average of $19.28. The company has a current ratio of 0.95, a quick ratio of 0.78 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $7.16 billion, a PE ratio of 12.62, a P/E/G ratio of 0.25 and a beta of 1.27.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last issued its earnings results on Friday, February 20th. The mining company reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.18). The company had revenue of $732.90 million for the quarter, compared to the consensus estimate of $730.13 million. HudBay Minerals had a return on equity of 8.91% and a net margin of 25.71%.HudBay Minerals’s quarterly revenue was up 25.3% on a year-over-year basis. During the same quarter last year, the business posted $0.18 EPS. Research analysts forecast that HudBay Minerals will post 0.79 EPS for the current year.

HudBay Minerals Announces Dividend

The firm also recently announced a dividend, which will be paid on Friday, March 27th. Shareholders of record on Tuesday, March 10th will be issued a dividend of $0.01 per share. The ex-dividend date is Tuesday, March 10th. This represents a yield of 9.0%. HudBay Minerals’s payout ratio is currently 0.70%.

HudBay Minerals Company Profile

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.