HudBay Minerals Inc (NYSE:HBM) Given Average Recommendation of “Buy” by Analysts

HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) has been assigned a consensus rating of “Buy” from the fourteen brokerages that are covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation, ten have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $27.3333.

A number of analysts recently issued reports on HBM shares. Wall Street Zen raised shares of HudBay Minerals from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Weiss Ratings raised shares of HudBay Minerals from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, February 10th. Citigroup increased their price objective on shares of HudBay Minerals from $23.00 to $32.50 and gave the company a “buy” rating in a research report on Wednesday, February 11th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of HudBay Minerals in a research report on Tuesday, April 21st. Finally, Barclays initiated coverage on shares of HudBay Minerals in a research report on Thursday, May 21st. They issued an “overweight” rating and a $30.00 price objective for the company.

HudBay Minerals Trading Up 3.9%

NYSE HBM opened at $31.79 on Wednesday. HudBay Minerals has a 12 month low of $8.93 and a 12 month high of $32.15. The company has a 50-day moving average of $23.81 and a 200-day moving average of $22.29. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.36 and a quick ratio of 1.20. The company has a market cap of $12.63 billion, a P/E ratio of 19.15, a P/E/G ratio of 0.35 and a beta of 1.43.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last posted its quarterly earnings data on Friday, May 1st. The mining company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.06. The company had revenue of $757.30 million during the quarter, compared to the consensus estimate of $684.73 million. HudBay Minerals had a net margin of 27.75% and a return on equity of 10.04%. The company’s quarterly revenue was up 27.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.24 EPS. As a group, equities analysts predict that HudBay Minerals will post 1.66 earnings per share for the current year.

HudBay Minerals Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Tuesday, June 9th will be given a $0.01 dividend. The ex-dividend date of this dividend is Tuesday, June 9th. This represents a $0.04 annualized dividend and a yield of 0.1%. HudBay Minerals’s dividend payout ratio (DPR) is 0.60%.

Hedge Funds Weigh In On HudBay Minerals

Institutional investors and hedge funds have recently made changes to their positions in the business. Allworth Financial LP boosted 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 valued at $30,000 after buying an additional 1,033 shares during the last quarter. Quarry LP purchased a new position in shares of HudBay Minerals during the 3rd quarter valued at approximately $38,000. IFP Advisors Inc purchased a new position in shares of HudBay Minerals during the 3rd quarter valued at approximately $45,000. Banque Cantonale Vaudoise boosted its stake in shares of HudBay Minerals by 513.5% during the 3rd quarter. Banque Cantonale Vaudoise now owns 3,172 shares of the mining company’s stock valued at $48,000 after buying an additional 2,655 shares during the last quarter. Finally, Jones Financial Companies Lllp boosted its stake in shares of HudBay Minerals by 131.6% during the 1st 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 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.