HudBay Minerals Inc (NYSE:HBM) Receives $31.33 Average PT from Analysts

HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) has been given a consensus rating of “Moderate Buy” by the twelve analysts that are covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $31.3333.

Several analysts have issued reports on the stock. Weiss Ratings downgraded shares of HudBay Minerals from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, August 13th. Scotiabank reissued an “outperform” rating on shares of HudBay Minerals in a research note on Thursday, July 30th. Wall Street Zen cut HudBay Minerals from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Citigroup reaffirmed a “positive” rating on shares of HudBay Minerals in a research report on Wednesday, July 15th. Finally, Jefferies Financial Group reiterated a “buy” rating on shares of HudBay Minerals in a research note on Monday, July 6th.

Institutional Trading of HudBay Minerals

Several institutional investors and hedge funds have recently modified their holdings of HBM. Bullseye Investment Management LLC purchased a new position in HudBay Minerals during the 2nd quarter worth $30,000. Integrated Wealth Concepts LLC bought a new position in shares of HudBay Minerals during the 2nd quarter worth $36,000. NewEdge Advisors LLC increased its stake in shares of HudBay Minerals by 39.9% during the second quarter. NewEdge Advisors LLC now owns 38,471 shares of the mining company’s stock valued at $908,000 after buying an additional 10,969 shares during the period. Spark Investment Management LLC purchased a new position in shares of HudBay Minerals during the second quarter valued at $212,000. Finally, Nykredit A S bought a new stake in shares of HudBay Minerals in the second quarter valued at about $57,000. Institutional investors own 57.82% of the company’s stock.

HudBay Minerals Stock Up 4.7%

Shares of HBM opened at $26.46 on Friday. The company has a quick ratio of 1.93, a current ratio of 2.24 and a debt-to-equity ratio of 0.17. The business has a fifty day moving average of $25.71 and a 200 day moving average of $24.68. The company has a market cap of $11.75 billion, a PE ratio of 15.56, a P/E/G ratio of 0.41 and a beta of 1.54. HudBay Minerals has a 52-week low of $13.00 and a 52-week high of $32.15.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last posted its quarterly earnings data on Wednesday, July 29th. The mining company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.02. HudBay Minerals had a net margin of 27.48% and a return on equity of 9.47%. The business had revenue of $631.30 million for the quarter, compared to analysts’ expectations of $632.43 million. During the same quarter in the previous year, the business posted $0.19 earnings per share. The business’s revenue was up 17.7% compared to the same quarter last year. On average, sell-side analysts expect that HudBay Minerals will post 1.48 EPS for the current year.

HudBay Minerals Dividend Announcement

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

HudBay Minerals Company Profile

Hudbay Minerals Inc is a Canadian mining company focused primarily on the exploration, development and operation of copper assets. The company also produces gold, zinc, silver and molybdenum as byproducts or additional products from its mining operations.

Hudbay operates the Constancia open-pit copper-molybdenum mine in southern Peru, along with the nearby Pampacancha satellite deposit. In Manitoba, Canada, the company operates the Lalor polymetallic mine and the Snow Lake processing facilities, which produce copper, zinc, gold and silver.