Hudbay Minerals (NYSE:HBM) Upgraded at StockNews.com

StockNews.com upgraded shares of Hudbay Minerals (NYSE:HBM) (TSE:HBM) from a hold rating to a buy rating in a research report released on Tuesday.

Several other equities analysts have also recently issued reports on HBM. Stifel Nicolaus assumed coverage on Hudbay Minerals in a report on Tuesday, March 26th. They set a buy rating for the company. Raymond James increased their price objective on shares of Hudbay Minerals from $9.00 to $10.50 and gave the company an outperform rating in a research note on Wednesday, March 20th. Bank of America upgraded shares of Hudbay Minerals from a neutral rating to a buy rating and set a $9.00 target price for the company in a research report on Tuesday, April 9th. Jefferies Financial Group initiated coverage on shares of Hudbay Minerals in a research report on Friday, May 3rd. They issued a hold rating and a $13.00 price target on the stock. Finally, National Bank Financial upgraded Hudbay Minerals from a hold rating to a strong-buy rating in a research report on Tuesday, May 14th. One equities research analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of Buy and an average target price of $10.21.

Hudbay Minerals Price Performance

Shares of NYSE HBM opened at $9.31 on Tuesday. The company’s fifty day moving average is $8.05 and its two-hundred day moving average is $6.24. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.00 and a current ratio of 1.40. The firm has a market capitalization of $3.27 billion, a P/E ratio of 40.46, a PEG ratio of 1.01 and a beta of 1.88. Hudbay Minerals has a one year low of $3.94 and a one year high of $10.49.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last issued its earnings results on Tuesday, May 14th. The mining company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.13. Hudbay Minerals had a net margin of 4.36% and a return on equity of 6.22%. The company had revenue of $524.99 million for the quarter, compared to analyst estimates of $463.69 million. Analysts forecast that Hudbay Minerals will post 0.44 EPS for the current fiscal year.

Hudbay Minerals Cuts Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Friday, March 22nd. Stockholders of record on Tuesday, March 5th were given a $0.0074 dividend. This represents a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, March 4th. Hudbay Minerals’s dividend payout ratio is currently 4.35%.

Hedge Funds Weigh In On Hudbay Minerals

Large investors have recently added to or reduced their stakes in the business. Register Financial Advisors LLC acquired a new position in shares of Hudbay Minerals during the 1st quarter valued at about $35,000. Banque Cantonale Vaudoise raised its stake in Hudbay Minerals by 38.7% during the first quarter. Banque Cantonale Vaudoise now owns 6,471 shares of the mining company’s stock worth $45,000 after purchasing an additional 1,806 shares during the period. Ballentine Partners LLC acquired a new position in shares of Hudbay Minerals in the 1st quarter valued at $85,000. Bank of Nova Scotia grew its stake in shares of Hudbay Minerals by 19.1% during the 3rd quarter. Bank of Nova Scotia now owns 24,843 shares of the mining company’s stock valued at $121,000 after buying an additional 3,979 shares during the period. Finally, Shell Asset Management Co. increased its holdings in shares of Hudbay Minerals by 38.6% during the 3rd quarter. Shell Asset Management Co. now owns 26,189 shares of the mining company’s stock worth $128,000 after buying an additional 7,300 shares during the last quarter. 57.82% of the stock is currently owned by hedge funds and other institutional investors.

Hudbay Minerals Company Profile

Hudbay Minerals Inc, a diversified mining company, focuses on the exploration, development, operation, and optimization of properties in North and South America. It produces copper concentrates containing gold, silver, and molybdenum; gold concentrates containing zinc; zinc concentrates; molybdenum concentrates; and silver/gold doré.