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

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

Several equities research analysts have recently issued reports on HBM shares. Wall Street Zen cut HudBay Minerals from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Scotiabank reaffirmed an “outperform” rating on shares of HudBay Minerals in a research note on Thursday, July 30th. Barclays upped their price objective on HudBay Minerals from $30.00 to $32.00 and gave the stock an “overweight” rating in a report on Wednesday, July 15th. Bank of America lowered their target price on HudBay Minerals from $33.50 to $29.50 and set a “buy” rating for the company in a research report on Thursday, July 9th. Finally, Jefferies Financial Group reissued a “buy” rating on shares of HudBay Minerals in a report on Monday, July 6th.

HudBay Minerals Trading Up 6.9%

NYSE:HBM opened at $30.08 on Monday. HudBay Minerals has a one year low of $11.21 and a one year high of $32.15. The business has a fifty day moving average price of $24.45 and a 200-day moving average price of $24.42. The firm has a market capitalization of $13.36 billion, a price-to-earnings ratio of 17.69, a price-to-earnings-growth ratio of 0.43 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.

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

HudBay Minerals Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Tuesday, September 8th will be issued a $0.01 dividend. The ex-dividend date is Tuesday, September 8th. This represents a $0.04 annualized dividend and a dividend yield of 0.1%. HudBay Minerals’s payout ratio is currently 1.76%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. FIL Ltd grew its holdings in HudBay Minerals by 202.0% during the fourth quarter. FIL Ltd now owns 33,143,172 shares of the mining company’s stock worth $658,010,000 after acquiring an additional 22,169,339 shares during the period. Invesco Ltd. boosted its holdings in HudBay Minerals by 0.4% during the 3rd quarter. Invesco Ltd. now owns 11,391,356 shares of the mining company’s stock valued at $172,693,000 after acquiring an additional 46,948 shares during the period. Mackenzie Financial Corp boosted its stake in shares of HudBay Minerals by 116.1% in the 4th quarter. Mackenzie Financial Corp now owns 10,178,626 shares of the mining company’s stock valued at $202,327,000 after buying an additional 5,468,109 shares during the period. Arrowstreet Capital Limited Partnership raised its position in shares of HudBay Minerals by 15.8% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 9,457,298 shares of the mining company’s stock worth $187,743,000 after acquiring an additional 1,293,023 shares in the last quarter. Finally, Royal Bank of Canada grew its holdings in shares of HudBay Minerals by 7.8% during the first quarter. Royal Bank of Canada now owns 8,254,831 shares of the mining company’s stock worth $172,526,000 after purchasing an additional 597,422 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 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.