HudBay Minerals (NYSE:HBM) Upgraded by Wall Street Zen to Buy Rating

Wall Street Zen upgraded shares of HudBay Minerals (NYSE:HBM) (TSE:HBM) from a hold rating to a buy rating in a research note issued to investors on Monday morning.

Several other brokerages have also issued reports on HBM. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of HudBay Minerals in a report on Tuesday, April 21st. Bank of America lowered their target price on shares of HudBay Minerals from $33.50 to $29.50 and set a “buy” rating for the company in a research note on Thursday, July 9th. Weiss Ratings upgraded shares of HudBay Minerals from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, June 29th. Citigroup reissued a “positive” rating on shares of HudBay Minerals in a research note on Wednesday, July 15th. Finally, Jefferies Financial Group restated a “buy” rating on shares of HudBay Minerals in a report on Monday, July 6th. Eleven research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $31.33.

HudBay Minerals Trading Up 2.5%

Shares of HBM stock opened at $20.86 on Monday. The stock’s fifty day moving average is $25.17 and its two-hundred day moving average is $24.05. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.20 and a current ratio of 1.36. The firm has a market capitalization of $9.27 billion, a P/E ratio of 12.57, a PEG ratio of 0.30 and a beta of 1.48. HudBay Minerals has a fifty-two week low of $8.93 and a fifty-two week high of $32.15.

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 (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.06. HudBay Minerals had a net margin of 27.75% and a return on equity of 10.04%. The company had revenue of $757.30 million during the quarter, compared to analysts’ expectations of $684.73 million. During the same quarter in the prior year, the company earned $0.24 EPS. HudBay Minerals’s revenue was up 27.3% compared to the same quarter last year. Research analysts expect that HudBay Minerals will post 1.61 earnings per share for the current fiscal year.

HudBay Minerals Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Tuesday, June 9th were given a $0.01 dividend. The ex-dividend date of this dividend was Tuesday, June 9th. This represents a $0.04 dividend on an annualized basis and a yield of 0.2%. HudBay Minerals’s payout ratio is 1.81%.

Institutional Trading of HudBay Minerals

Hedge funds and other institutional investors have recently made changes to their positions in the company. Affinity Wealth Management LLC acquired a new stake in HudBay Minerals during the 4th quarter worth $3,857,000. Artemis Investment Management LLP grew its position in HudBay Minerals by 15.6% during the 4th quarter. Artemis Investment Management LLP now owns 5,709,453 shares of the mining company’s stock worth $113,355,000 after purchasing an additional 770,172 shares during the last quarter. Goehring & Rozencwajg Associates LLC increased its stake in HudBay Minerals by 6.6% in the fourth quarter. Goehring & Rozencwajg Associates LLC now owns 824,951 shares of the mining company’s stock valued at $16,380,000 after purchasing an additional 51,387 shares during the period. Maxi Investments CY Ltd acquired a new position in HudBay Minerals in the fourth quarter valued at $993,000. Finally, Louisbourg Investments Inc. purchased a new stake in shares of HudBay Minerals in the fourth quarter valued at about $5,247,000. 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.