Hudbay Minerals (NYSE:HBM) Upgraded to “Strong-Buy” at StockNews.com

StockNews.com upgraded shares of Hudbay Minerals (NYSE:HBM) (TSE:HBM) from a buy rating to a strong-buy rating in a research report sent to investors on Tuesday.

A number of other research firms have also recently commented on HBM. Stifel Canada raised shares of Hudbay Minerals to a “strong-buy” rating in a research report on Wednesday, March 19th. Desjardins started coverage on Hudbay Minerals in a research report on Friday, April 4th. They issued a “buy” rating for the company. Finally, BMO Capital Markets started coverage on Hudbay Minerals in a research report on Wednesday, April 16th. They set an “outperform” rating on the stock. Three analysts have rated the stock with a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, Hudbay Minerals presently has an average rating of “Strong Buy” and a consensus target price of $14.00.

Hudbay Minerals Trading Up 4.1%

Shares of NYSE:HBM opened at $8.67 on Tuesday. The company has a market capitalization of $3.42 billion, a PE ratio of 48.17 and a beta of 1.56. The company has a current ratio of 1.86, a quick ratio of 1.47 and a debt-to-equity ratio of 0.44. Hudbay Minerals has a 12-month low of $5.95 and a 12-month high of $10.49. The business’s fifty day simple moving average is $7.40 and its 200-day simple moving average is $8.16.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last announced its earnings results on Monday, May 12th. The mining company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.14. The business had revenue of $594.90 million during the quarter, compared to the consensus estimate of $537.36 million. Hudbay Minerals had a net margin of 3.80% and a return on equity of 7.29%. The firm’s revenue was up 13.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.22 earnings per share. As a group, equities research analysts predict that Hudbay Minerals will post 0.79 earnings per share for the current fiscal year.

Hudbay Minerals Increases Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Friday, March 21st. Stockholders of record on Tuesday, March 4th were issued a dividend of $0.007 per share. The ex-dividend date was Tuesday, March 4th. This is a positive change from Hudbay Minerals’s previous semi-annual dividend of $0.01. This represents a dividend yield of 0.2%. Hudbay Minerals’s payout ratio is 5.56%.

Hedge Funds Weigh In On Hudbay Minerals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Norges Bank acquired a new position in Hudbay Minerals in the 4th quarter worth approximately $50,260,000. Dimensional Fund Advisors LP boosted its holdings in shares of Hudbay Minerals by 86.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 9,149,134 shares of the mining company’s stock valued at $74,105,000 after acquiring an additional 4,253,400 shares during the last quarter. Price T Rowe Associates Inc. MD acquired a new stake in shares of Hudbay Minerals in the fourth quarter worth $17,657,000. American Century Companies Inc. raised its holdings in shares of Hudbay Minerals by 102.4% during the fourth quarter. American Century Companies Inc. now owns 4,275,895 shares of the mining company’s stock worth $34,684,000 after purchasing an additional 2,163,000 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its position in Hudbay Minerals by 111.8% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,777,571 shares of the mining company’s stock valued at $30,602,000 after purchasing an additional 1,994,431 shares during the period. Hedge funds and other institutional investors own 57.82% of the company’s stock.

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.