HudBay Minerals (NYSE:HBM) Cut to “Buy” at Wall Street Zen

Wall Street Zen lowered shares of HudBay Minerals (NYSE:HBM) (TSE:HBM) from a strong-buy rating to a buy rating in a research report released on Saturday.

A number of other equities research analysts have also weighed in on HBM. Veritas raised shares of HudBay Minerals to a “strong-buy” rating in a report on Monday, July 7th. Weiss Ratings reiterated a “buy (b-)” rating on shares of HudBay Minerals in a report on Wednesday, October 8th. Raymond James Financial reiterated an “outperform” rating on shares of HudBay Minerals in a report on Friday, October 10th. CIBC reaffirmed an “outperform” rating on shares of HudBay Minerals in a research report on Tuesday, July 15th. Finally, The Goldman Sachs Group assumed coverage on HudBay Minerals in a research report on Monday, September 8th. They set a “buy” rating for the company. Three research analysts have rated the stock with a Strong Buy rating and ten have issued a Buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $19.50.

HudBay Minerals Price Performance

HudBay Minerals stock opened at $15.46 on Friday. The company has a current ratio of 1.03, a quick ratio of 0.86 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $6.12 billion, a PE ratio of 21.17 and a beta of 1.55. HudBay Minerals has a 12 month low of $5.95 and a 12 month high of $17.73. The stock has a 50-day moving average price of $14.17 and a two-hundred day moving average price of $10.89.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last posted its earnings results on Wednesday, August 13th. The mining company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.11 by $0.08. HudBay Minerals had a return on equity of 10.73% and a net margin of 13.13%.The firm had revenue of $536.40 million during the quarter, compared to the consensus estimate of $558.21 million. HudBay Minerals’s quarterly revenue was up 26.1% compared to the same quarter last year. Analysts expect that HudBay Minerals will post 0.79 EPS for the current year.

HudBay Minerals Increases Dividend

The company also recently announced a semi-annual dividend, which was paid on Friday, September 19th. Investors of record on Tuesday, September 2nd were paid a dividend of $0.0073 per share. This is a boost from HudBay Minerals’s previous semi-annual dividend of $0.01. This represents a yield of 17.0%. The ex-dividend date of this dividend was Tuesday, September 2nd. HudBay Minerals’s payout ratio is 1.37%.

Institutional Trading of HudBay Minerals

A number of large investors have recently bought and sold shares of HBM. SBI Securities Co. Ltd. grew its holdings in HudBay Minerals by 64.6% during the 1st quarter. SBI Securities Co. Ltd. now owns 3,773 shares of the mining company’s stock worth $29,000 after acquiring an additional 1,481 shares during the period. Banque Cantonale Vaudoise bought a new stake in shares of HudBay Minerals during the 1st quarter valued at about $33,000. Global Retirement Partners LLC acquired a new position in HudBay Minerals in the third quarter valued at approximately $45,000. Jones Financial Companies Lllp lifted its stake in HudBay Minerals by 131.6% in the first quarter. Jones Financial Companies Lllp now owns 6,570 shares of the mining company’s stock valued at $50,000 after buying an additional 3,733 shares during the period. Finally, Plato Investment Management Ltd acquired a new position in HudBay Minerals in the second quarter valued at approximately $84,000. 57.82% of the stock is currently owned by institutional investors and hedge funds.

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.