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

Shares of HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) have received an average rating of “Moderate Buy” from the thirteen ratings firms that are presently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $31.3333.

Several research firms have recently issued reports on HBM. Citigroup reissued a “positive” rating on shares of HudBay Minerals in a research note on Wednesday, July 15th. Wall Street Zen cut shares of HudBay Minerals from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Weiss Ratings downgraded shares of HudBay Minerals from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday. Bank of America decreased their price objective on shares of HudBay Minerals from $33.50 to $29.50 and set a “buy” rating for the company in a report on Thursday, July 9th. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of HudBay Minerals in a research report on Monday, July 6th.

HudBay Minerals Stock Down 0.2%

Shares of NYSE:HBM opened at $26.65 on Monday. HudBay Minerals has a 1 year low of $10.72 and a 1 year high of $32.15. The company has a market cap of $11.83 billion, a PE ratio of 15.67, a P/E/G ratio of 0.41 and a beta of 1.48. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.24 and a quick ratio of 1.93. The stock’s 50-day moving average is $24.27 and its 200 day moving average is $24.34.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last released its quarterly earnings data on Wednesday, July 29th. The mining company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.02. HudBay Minerals had a return on equity of 9.47% and a net margin of 27.48%.The business had revenue of $631.30 million during the quarter, compared to analysts’ expectations of $632.43 million. During the same quarter last year, the business posted $0.19 EPS. The business’s revenue was up 17.7% on a year-over-year basis. Sell-side analysts anticipate that HudBay Minerals will post 1.58 EPS for the current year.

HudBay Minerals Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Tuesday, September 8th will be given a dividend of $0.01 per share. The ex-dividend date is Tuesday, September 8th. This represents a $0.04 annualized dividend and a dividend yield of 0.2%. HudBay Minerals’s payout ratio is currently 1.76%.

Institutional Trading of HudBay Minerals

Several institutional investors and hedge funds have recently bought and sold shares of HBM. Jones Financial Companies Lllp grew its holdings 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 worth $50,000 after acquiring an additional 3,733 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of 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 period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of HudBay Minerals by 6.8% during the first 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 in the last quarter. Geode Capital Management LLC boosted its position in shares of HudBay Minerals by 7.4% during the second quarter. Geode Capital Management LLC now owns 221,685 shares of the mining company’s stock valued at $2,363,000 after purchasing an additional 15,235 shares in the last quarter. Finally, Creative Planning grew its stake in HudBay Minerals by 5.4% in the second 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 period. 57.82% of the stock is currently owned by hedge funds and other 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.