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 Monday.

A number of other research firms have also recently issued reports on HBM. Citigroup reiterated a “positive” rating on shares of HudBay Minerals in a research note on Wednesday, July 15th. Scotiabank restated an “outperform” rating on shares of HudBay Minerals in a research report on Thursday, June 25th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of HudBay Minerals in a report on Tuesday, April 21st. Barclays lifted their price objective on shares of HudBay Minerals from $30.00 to $32.00 and gave the company an “overweight” rating in a research report on Wednesday, July 15th. Finally, Jefferies Financial Group reissued a “buy” rating on shares of HudBay Minerals in a research note on Monday, July 6th. Eleven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $31.33.

HudBay Minerals Stock Up 2.3%

Shares of HudBay Minerals stock opened at $23.54 on Monday. The stock has a market capitalization of $10.45 billion, a price-to-earnings ratio of 14.18, a PEG ratio of 0.34 and a beta of 1.48. HudBay Minerals has a twelve month low of $8.93 and a twelve month high of $32.15. The company has a current ratio of 1.36, a quick ratio of 1.20 and a debt-to-equity ratio of 0.14. The business’s 50 day simple moving average is $25.00 and its 200-day simple moving average is $24.09.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last released its quarterly earnings data on Friday, May 1st. The mining company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.06. The business had revenue of $757.30 million during the quarter, compared to analyst estimates of $684.73 million. HudBay Minerals had a return on equity of 10.04% and a net margin of 27.75%.The business’s revenue for the quarter was up 27.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.24 EPS. Equities research analysts forecast that HudBay Minerals will post 1.61 earnings per share for the current year.

HudBay Minerals Dividend Announcement

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

Hedge Funds Weigh In On HudBay Minerals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HBM. Allworth Financial LP increased its position 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 purchasing an additional 1,033 shares during the period. Quarry LP acquired a new stake in shares of HudBay Minerals in the third quarter valued at $38,000. IFP Advisors Inc acquired a new stake in shares of HudBay Minerals in the third quarter valued at $45,000. Banque Cantonale Vaudoise lifted its holdings in shares of HudBay Minerals by 513.5% in the third 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 period. Finally, Jones Financial Companies Lllp boosted its stake in HudBay Minerals by 131.6% during 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 in the last quarter. 57.82% of the stock is owned by 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.