HudBay Minerals (NYSE:HBM) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of HudBay Minerals (NYSE:HBM) (TSE:HBM) from a hold rating to a buy rating in a research note issued to investors on Saturday.

A number of other analysts have also commented on the company. Jefferies Financial Group reissued a “buy” rating on shares of HudBay Minerals in a report on Sunday, December 7th. Citigroup lifted their target price on HudBay Minerals from $23.00 to $32.50 and gave the company a “buy” rating in a research report on Wednesday, February 11th. Scotiabank reiterated an “outperform” rating on shares of HudBay Minerals in a report on Monday, January 26th. National Bank Financial cut HudBay Minerals from an “outperform” rating to a “sector perform” rating in a research note on Wednesday, January 28th. Finally, Weiss Ratings raised shares of HudBay Minerals from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, February 10th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $26.00.

HudBay Minerals Stock Performance

NYSE HBM opened at $26.05 on Friday. The company has a market cap of $10.34 billion, a P/E ratio of 18.21 and a beta of 1.33. The company has a fifty day simple moving average of $22.99 and a 200 day simple moving average of $17.66. The company has a current ratio of 0.97, a quick ratio of 0.76 and a debt-to-equity ratio of 0.18. HudBay Minerals has a 12-month low of $5.95 and a 12-month high of $28.74.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last released its quarterly earnings data on Friday, February 20th. The mining company reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.18). The business had revenue of $732.90 million during the quarter, compared to the consensus estimate of $730.13 million. HudBay Minerals had a net margin of 25.71% and a return on equity of 9.16%. The firm’s quarterly revenue was up 25.3% on a year-over-year basis. During the same period last year, the business posted $0.18 earnings per share. Sell-side analysts predict that HudBay Minerals will post 0.79 earnings per share for the current fiscal year.

HudBay Minerals Dividend Announcement

The business also recently declared a dividend, which will be paid on Friday, March 27th. Investors of record on Tuesday, March 10th will be given a dividend of $0.01 per share. The ex-dividend date is Tuesday, March 10th. This represents a yield of 8.0%. HudBay Minerals’s dividend payout ratio is presently 0.70%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Allworth Financial LP increased its stake in shares of HudBay Minerals by 107.9% during the 3rd quarter. Allworth Financial LP now owns 1,990 shares of the mining company’s stock worth $30,000 after purchasing an additional 1,033 shares during the last quarter. Quarry LP purchased a new position in HudBay Minerals in the third quarter valued at approximately $38,000. Global Retirement Partners LLC bought a new position in HudBay Minerals during the third quarter valued at $45,000. IFP Advisors Inc bought a new position in HudBay Minerals during the third quarter valued at $45,000. Finally, Banque Cantonale Vaudoise increased its position in HudBay Minerals by 513.5% in the third quarter. Banque Cantonale Vaudoise now owns 3,172 shares of the mining company’s stock worth $48,000 after buying an additional 2,655 shares during the last quarter. 57.82% of the stock is currently owned by hedge funds and other institutional investors.

About HudBay Minerals

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.