HudBay Minerals Inc (NYSE:HBM) Receives $27.33 Consensus PT from Brokerages

Shares of HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) have been given a consensus recommendation of “Buy” by the fourteen ratings firms that are covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $27.3333.

Several analysts have weighed in on the stock. Scotiabank reiterated an “outperform” rating on shares of HudBay Minerals in a research note on Thursday, June 25th. Barclays initiated coverage on shares of HudBay Minerals in a report on Thursday, May 21st. They issued an “overweight” rating and a $30.00 price target for the company. 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 upgraded shares of HudBay Minerals from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, June 29th. Finally, Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of HudBay Minerals in a research note on Tuesday, April 21st.

HudBay Minerals Price Performance

Shares of HBM opened at $22.57 on Friday. The firm has a market cap of $10.03 billion, a price-to-earnings ratio of 13.60, a PEG ratio of 0.26 and a beta of 1.48. The stock has a 50 day moving average of $25.69 and a 200-day moving average of $23.86. The company has a current ratio of 1.36, a quick ratio of 1.20 and a debt-to-equity ratio of 0.14. HudBay Minerals has a 52 week low of $8.93 and a 52 week high of $32.15.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last issued its quarterly earnings results on Friday, May 1st. The mining company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.06. HudBay Minerals had a return on equity of 10.04% and a net margin of 27.75%.The business had revenue of $757.30 million during the quarter, compared to the consensus estimate of $684.73 million. During the same period in the previous year, the business earned $0.24 EPS. The business’s quarterly revenue was up 27.3% on a year-over-year basis. As a group, analysts forecast that HudBay Minerals will post 1.65 EPS for the current year.

HudBay Minerals Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Tuesday, June 9th were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date was Tuesday, June 9th. HudBay Minerals’s dividend payout ratio is presently 1.81%.

Institutional Investors Weigh In On HudBay Minerals

A number of hedge funds have recently added to or reduced their stakes in the stock. Jones Financial Companies Lllp grew its position in shares of HudBay Minerals by 131.6% during the first quarter. Jones Financial Companies Lllp now owns 6,570 shares of the mining company’s stock worth $50,000 after acquiring an additional 3,733 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in HudBay Minerals by 144.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 7,281,095 shares of the mining company’s stock valued at $55,264,000 after purchasing an additional 4,299,428 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in HudBay Minerals by 6.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 439,687 shares of the mining company’s stock valued at $3,337,000 after purchasing an additional 27,944 shares during the period. Geode Capital Management LLC grew its position in HudBay Minerals by 7.4% in the 2nd quarter. Geode Capital Management LLC now owns 221,685 shares of the mining company’s stock worth $2,363,000 after purchasing an additional 15,235 shares during the last quarter. Finally, Creative Planning grew its position in HudBay Minerals by 5.4% in the 2nd quarter. Creative Planning now owns 25,067 shares of the mining company’s stock worth $266,000 after purchasing an additional 1,289 shares during the last quarter. 57.82% of the stock is currently owned by institutional investors.

HudBay Minerals Company Profile

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.