HudBay Minerals Inc (NYSE:HBM) Receives $26.00 Average PT from Analysts

Shares of HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) have been given an average rating of “Moderate Buy” by the fifteen brokerages that are currently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation, twelve have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $26.00.

Several research analysts have recently issued reports on the company. Raymond James Financial restated an “outperform” rating on shares of HudBay Minerals in a research report on Wednesday, January 14th. Weiss Ratings upgraded HudBay Minerals from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, February 10th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of HudBay Minerals in a research note on Thursday, January 15th. National Bank Financial cut HudBay Minerals from an “outperform” rating to a “sector perform” rating in a report on Wednesday, January 28th. Finally, Zacks Research lowered HudBay Minerals from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 17th.

Institutional Investors Weigh In On HudBay Minerals

Several large investors have recently bought and sold shares of HBM. Allworth Financial LP grew its holdings in shares of HudBay Minerals by 107.9% in 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 period. Quarry LP bought a new position in HudBay Minerals during the third quarter worth about $38,000. Global Retirement Partners LLC acquired a new position in HudBay Minerals in the third quarter valued at about $45,000. IFP Advisors Inc bought a new stake in shares of HudBay Minerals in the third quarter worth about $45,000. Finally, Banque Cantonale Vaudoise raised its position in shares of HudBay Minerals by 513.5% during the third quarter. Banque Cantonale Vaudoise now owns 3,172 shares of the mining company’s stock worth $48,000 after purchasing an additional 2,655 shares during the period. Institutional investors own 57.82% of the company’s stock.

HudBay Minerals Stock Down 6.0%

Shares of NYSE HBM opened at $18.81 on Friday. HudBay Minerals has a 1 year low of $5.95 and a 1 year high of $28.74. The firm’s 50-day moving average is $23.94 and its 200-day moving average is $19.37. The company has a current ratio of 0.95, a quick ratio of 0.78 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $7.47 billion, a PE ratio of 13.15, a price-to-earnings-growth ratio of 0.27 and a beta of 1.27.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last posted its quarterly earnings results on Friday, February 20th. The mining company reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.18). HudBay Minerals had a return on equity of 8.91% and a net margin of 25.71%.The business had revenue of $732.90 million for the quarter, compared to the consensus estimate of $730.13 million. During the same period last year, the firm earned $0.18 earnings per share. The company’s quarterly revenue was up 25.3% on a year-over-year basis. Equities analysts expect that HudBay Minerals will post 0.79 EPS for the current year.

HudBay Minerals Dividend Announcement

The company also recently disclosed a dividend, which will be paid on Friday, March 27th. Investors of record on Tuesday, March 10th will be paid a dividend of $0.01 per share. The ex-dividend date of this dividend is Tuesday, March 10th. This represents a yield of 9.0%. HudBay Minerals’s dividend payout ratio (DPR) is presently 0.70%.

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.