Hudbay Minerals Inc. (NYSE:HBM) Receives Average Recommendation of “Buy” from Analysts

Shares of Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) have earned an average rating of “Buy” from the six research firms that are currently covering the stock, Marketbeat Ratings reports. Four analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $11.17.

Separately, StockNews.com upgraded Hudbay Minerals from a “hold” rating to a “buy” rating in a research report on Friday, February 7th.

Hudbay Minerals Trading Up 6.6 %

Shares of HBM opened at $7.04 on Wednesday. The firm’s fifty day moving average is $8.23 and its two-hundred day moving average is $8.50. The stock has a market cap of $2.78 billion, a PE ratio of 39.09 and a beta of 1.72. The company has a quick ratio of 1.47, a current ratio of 1.86 and a debt-to-equity ratio of 0.44. Hudbay Minerals has a 52-week low of $6.23 and a 52-week high of $10.49.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last announced its quarterly earnings data on Wednesday, February 19th. The mining company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.02). The business had revenue of $584.90 million for the quarter, compared to analysts’ expectations of $588.28 million. Hudbay Minerals had a net margin of 3.80% and a return on equity of 7.29%. The firm’s revenue was down 2.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.20 EPS. Research analysts forecast that Hudbay Minerals will post 0.79 earnings per share for the current fiscal year.

Hudbay Minerals Increases Dividend

The company also recently announced a semi-annual dividend, which will be paid on Friday, March 21st. Shareholders of record on Tuesday, March 4th will be paid a dividend of $0.007 per share. The ex-dividend date is Tuesday, March 4th. This is an increase from Hudbay Minerals’s previous semi-annual dividend of $0.01. This represents a yield of 0.2%. Hudbay Minerals’s payout ratio is 5.56%.

Institutional Trading of Hudbay Minerals

Several hedge funds have recently made changes to their positions in HBM. Polar Asset Management Partners Inc. lifted its holdings in Hudbay Minerals by 121.7% in the fourth quarter. Polar Asset Management Partners Inc. now owns 1,694,700 shares of the mining company’s stock valued at $13,550,000 after acquiring an additional 930,300 shares during the last quarter. Public Employees Retirement System of Ohio raised its position in Hudbay Minerals by 83.8% in the fourth quarter. Public Employees Retirement System of Ohio now owns 224,070 shares of the mining company’s stock valued at $1,817,000 after purchasing an additional 102,179 shares during the period. Vise Technologies Inc. acquired a new position in shares of Hudbay Minerals in the 4th quarter valued at $193,000. Woodline Partners LP grew its holdings in shares of Hudbay Minerals by 216.5% during the 4th quarter. Woodline Partners LP now owns 2,124,494 shares of the mining company’s stock worth $17,208,000 after purchasing an additional 1,453,173 shares during the period. Finally, Two Sigma Advisers LP grew its holdings in shares of Hudbay Minerals by 12.6% during the 4th quarter. Two Sigma Advisers LP now owns 783,146 shares of the mining company’s stock worth $6,343,000 after purchasing an additional 87,500 shares during the period. Hedge funds and other 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.