HudBay Minerals Inc (NYSE:HBM) Stock Has Consensus Target Price of $31.33 According to Brokerages

HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) has received a consensus rating of “Moderate Buy” from the twelve brokerages that are covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $31.33.

A number of analysts recently commented on the company. Weiss Ratings upgraded HudBay Minerals from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday. Citigroup restated a “positive” rating on shares of HudBay Minerals in a report on Wednesday, July 15th. Jefferies Financial Group restated a “buy” rating on shares of HudBay Minerals in a report on Monday, July 6th. Wall Street Zen cut shares of HudBay Minerals from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Finally, Bank of America lowered their price target on shares of HudBay Minerals from $33.50 to $29.50 and set a “buy” rating for the company in a report on Thursday, July 9th.

HudBay Minerals Price Performance

Shares of NYSE:HBM opened at $26.10 on Tuesday. 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 company has a market cap of $11.59 billion, a P/E ratio of 15.35, a PEG ratio of 0.46 and a beta of 1.58. HudBay Minerals has a 52 week low of $14.34 and a 52 week high of $32.15. The company has a 50-day moving average price of $27.20 and a 200 day moving average price of $25.17.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last issued its earnings results on Wednesday, July 29th. The mining company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.26 by $0.02. The company had revenue of $631.30 million for 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 business’s revenue was up 17.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.19 EPS. Research analysts predict that HudBay Minerals will post 1.45 earnings per share for the current year.

HudBay Minerals Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 25th. Shareholders of record on Tuesday, September 8th were paid a dividend of C$0.01 per share. The ex-dividend date was Tuesday, September 8th. This represents a $0.04 annualized dividend and a yield of 0.2%. HudBay Minerals’s dividend payout ratio is currently 1.76%.

Institutional Investors Weigh In On HudBay Minerals

Several hedge funds have recently modified their holdings of HBM. Rakuten Securities Inc. acquired a new stake in HudBay Minerals during the 2nd quarter valued at approximately $28,000. Bullseye Investment Management LLC purchased a new stake in HudBay Minerals during the 2nd quarter worth approximately $30,000. Fiduciary Financial Advisors purchased a new stake in HudBay Minerals during the 2nd quarter worth approximately $32,000. Integrated Wealth Concepts LLC purchased a new stake in HudBay Minerals during the 2nd quarter worth approximately $36,000. Finally, EFG International AG acquired a new position in shares of HudBay Minerals in the 2nd quarter valued at approximately $38,000. 57.82% of the stock is currently owned by hedge funds and other institutional investors.

HudBay Minerals Company Profile

Hudbay Minerals Inc is a Canadian mining company focused primarily on the exploration, development, and operation of copper, zinc, gold, silver, and molybdenum deposits. The company’s products are used in infrastructure, manufacturing, technology, and energy-related applications. Hudbay is listed on the New York Stock Exchange and the Toronto Stock Exchange under the symbol HBM.

Hudbay operates mining and processing assets in Canada and Peru. Its Manitoba operations include the Lalor polymetallic mine and processing facilities in the Snow Lake region, which produce zinc, copper, gold, and silver.