Hudbay Minerals Inc. (NYSE:HBM) Given Average Recommendation of “Buy” by Brokerages

Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) has been given an average rating of “Buy” by the six brokerages that are currently covering the firm, MarketBeat.com reports. Four investment analysts have rated the stock with a buy rating and two have issued a strong buy rating on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $11.17.

Several equities analysts recently commented on the stock. Jefferies Financial Group raised shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a research note on Wednesday, August 14th. Stifel Canada upgraded Hudbay Minerals to a “strong-buy” rating in a research report on Monday, July 22nd. Finally, StockNews.com cut Hudbay Minerals from a “buy” rating to a “hold” rating in a report on Tuesday, August 13th.

Hudbay Minerals Stock Down 3.2 %

Shares of NYSE HBM opened at $9.02 on Thursday. The stock has a 50-day moving average price of $8.59 and a two-hundred day moving average price of $8.64. 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 company has a market cap of $3.55 billion, a price-to-earnings ratio of 39.20 and a beta of 1.78.

Hudbay Minerals Cuts Dividend

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

Institutional Investors Weigh In On Hudbay Minerals

Several institutional investors and hedge funds have recently made changes to their positions in the business. Regal Partners Ltd increased its holdings in Hudbay Minerals by 5.4% in the third quarter. Regal Partners Ltd now owns 2,673,518 shares of the mining company’s stock worth $24,570,000 after purchasing an additional 136,943 shares in the last quarter. MQS Management LLC grew its position in shares of Hudbay Minerals by 8.2% during the 3rd quarter. MQS Management LLC now owns 34,231 shares of the mining company’s stock worth $315,000 after buying an additional 2,592 shares during the period. Entropy Technologies LP acquired a new stake in shares of Hudbay Minerals during the 3rd quarter worth approximately $587,000. Meritage Portfolio Management bought a new stake in shares of Hudbay Minerals in the 3rd quarter valued at $6,743,000. Finally, CWA Asset Management Group LLC acquired a new position in shares of Hudbay Minerals during the 3rd quarter valued at $527,000. Institutional investors own 57.82% of the company’s stock.

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.