HudBay Minerals Inc (NYSE:HBM) Given Average Rating of “Moderate Buy” by Brokerages

HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) has received a consensus rating of “Moderate Buy” from the thirteen analysts that are presently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $26.00.

HBM has been the subject of several analyst reports. Wall Street Zen upgraded shares of HudBay Minerals from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Raymond James Financial reiterated an “outperform” rating on shares of HudBay Minerals in a report on Wednesday, January 14th. Scotiabank reiterated an “outperform” rating on shares of HudBay Minerals in a report on Monday, January 26th. Zacks Research cut shares of HudBay Minerals from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 17th. Finally, Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of HudBay Minerals in a report on Tuesday, April 21st.

HudBay Minerals Trading Up 5.0%

Shares of HBM stock opened at $25.04 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.78 and a current ratio of 1.36. The stock has a market capitalization of $9.95 billion, a P/E ratio of 15.08, a price-to-earnings-growth ratio of 0.28 and a beta of 1.37. The company has a 50 day moving average price of $22.86 and a 200 day moving average price of $21.06. HudBay Minerals has a fifty-two week low of $7.61 and a fifty-two week high of $28.74.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last announced its quarterly earnings data on Friday, May 1st. The mining company reported $0.40 earnings per share for the quarter, beating 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 firm had revenue of $757.30 million during the quarter, compared to analysts’ expectations of $684.73 million. During the same quarter in the previous year, the business posted $0.24 earnings per share. The business’s quarterly revenue was up 27.3% compared to the same quarter last year. Equities research analysts predict that HudBay Minerals will post 1.62 EPS for the current fiscal year.

HudBay Minerals Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Tuesday, June 9th will be issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.2%. The ex-dividend date is Tuesday, June 9th. HudBay Minerals’s payout ratio is 0.60%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in HBM. Triasima Portfolio Management inc. purchased a new stake in shares of HudBay Minerals during the 3rd quarter worth approximately $8,057,000. Picton Mahoney Asset Management lifted its position 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 worth $96,171,000 after buying an additional 537,964 shares during the last quarter. Campbell & CO Investment Adviser LLC purchased a new stake in shares of HudBay Minerals during the 3rd quarter worth approximately $1,454,000. Bank of Nova Scotia lifted its position 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 worth $64,783,000 after buying an additional 3,712,572 shares during the last quarter. Finally, State of Wyoming purchased a new stake in shares of HudBay Minerals during the 3rd quarter worth approximately $800,000. Institutional investors and hedge funds own 57.82% of the company’s stock.

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.