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

HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) has received a consensus recommendation of “Buy” from the fourteen ratings firms that are covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $27.3333.

A number of equities analysts have recently weighed in on HBM shares. Weiss Ratings raised shares of HudBay Minerals from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, February 10th. Zacks Research lowered shares of HudBay Minerals from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 17th. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of HudBay Minerals in a report on Tuesday, April 21st. Citigroup upped their target price on shares of HudBay Minerals from $23.00 to $32.50 and gave the company a “buy” rating in a report on Wednesday, February 11th. Finally, Barclays started coverage on shares of HudBay Minerals in a report on Thursday, May 21st. They issued an “overweight” rating and a $30.00 target price on the stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Picton Mahoney Asset Management increased its stake in shares of HudBay Minerals by 9.3% during the 3rd quarter. Picton Mahoney Asset Management now owns 6,350,482 shares of the mining company’s stock valued at $96,171,000 after acquiring an additional 537,964 shares during the last quarter. Bank of Nova Scotia increased its stake in shares of HudBay Minerals by 662.0% during the 3rd quarter. Bank of Nova Scotia now owns 4,273,384 shares of the mining company’s stock valued at $64,783,000 after acquiring an additional 3,712,572 shares during the last quarter. State of Wyoming acquired a new position in shares of HudBay Minerals during the 3rd quarter valued at about $800,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of HudBay Minerals by 10.4% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,502,218 shares of the mining company’s stock valued at $159,111,000 after acquiring an additional 986,278 shares during the last quarter. Finally, Affinity Wealth Management LLC acquired a new position in shares of HudBay Minerals during the 4th quarter valued at about $3,857,000. 57.82% of the stock is currently owned by hedge funds and other institutional investors.

HudBay Minerals Stock Performance

NYSE:HBM opened at $31.79 on Wednesday. The company has a quick ratio of 1.20, a current ratio of 1.36 and a debt-to-equity ratio of 0.14. HudBay Minerals has a fifty-two week low of $8.93 and a fifty-two week high of $32.15. The stock has a market cap of $12.63 billion, a PE ratio of 19.15, a price-to-earnings-growth ratio of 0.35 and a beta of 1.43. The firm’s fifty day simple moving average is $23.81 and its 200-day simple moving average is $22.29.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last posted its quarterly earnings results on Friday, May 1st. The mining company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.06. HudBay Minerals had a net margin of 27.75% and a return on equity of 10.04%. The business had revenue of $757.30 million for the quarter, compared to analysts’ expectations of $684.73 million. During the same period in the prior year, the company posted $0.24 EPS. The business’s revenue for the quarter was up 27.3% on a year-over-year basis. Analysts expect that HudBay Minerals will post 1.66 earnings per share for the current fiscal year.

HudBay Minerals Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Tuesday, June 9th will be issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date is Tuesday, June 9th. HudBay Minerals’s dividend payout ratio is 0.60%.

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.