Hudbay Minerals Inc. (TSE:HBM) Stock Now Rated “Buy” by Wall Street Analysts

Hudbay Minerals Inc. (TSE:HBM) (NYSE:HBM) has received a consensus rating of “Buy” from the twelve ratings firms that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is C$42.56.

A number of research analysts have recently commented on HBM shares. Royal Bank Of Canada boosted their price target on shares of Hudbay Minerals from C$40.00 to C$48.00 in a research report on Wednesday, September 16th. Jefferies Financial Group decreased their price target on shares of Hudbay Minerals from C$57.00 to C$50.00 in a report on Monday, July 6th. ATB Cormark Capital Markets increased their price objective on Hudbay Minerals from C$35.00 to C$40.00 and gave the stock an “outperform” rating in a research report on Friday, October 9th. Scotiabank dropped their price objective on Hudbay Minerals from C$44.00 to C$43.00 and set a “sector outperform” rating for the company in a research note on Thursday, July 30th. Finally, Canaccord Genuity Group dropped their price objective on Hudbay Minerals from C$40.00 to C$39.50 and set a “buy” rating for the company in a research note on Thursday, July 30th.

Hudbay Minerals Price Performance

Shares of TSE:HBM opened at C$33.39 on Friday. The company has a 50 day moving average of C$37.94 and a 200 day moving average of C$35.42. The company has a current ratio of 2.24, a quick ratio of 0.85 and a debt-to-equity ratio of 19.04. The stock has a market cap of C$14.83 billion, a P/E ratio of 20.51, a P/E/G ratio of 3.97 and a beta of 2.37. Hudbay Minerals has a 12 month low of C$20.26 and a 12 month high of C$44.48.

Hudbay Minerals (TSE:HBM) (NYSE:HBM) last posted its earnings results on Wednesday, July 29th. The mining company reported C$0.40 earnings per share for the quarter. Hudbay Minerals had a net margin of 27.22% and a return on equity of 18.41%. The business had revenue of C$896.94 million for the quarter. As a group, sell-side analysts forecast that Hudbay Minerals will post 1.12 EPS for the current fiscal year.

Hudbay Minerals Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 25th. Shareholders of record on Friday, September 25th were paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date was Tuesday, September 8th. Hudbay Minerals’s dividend payout ratio is currently 1.32%.

About Hudbay Minerals

Hudbay (TSX, NYSE: HBM) is a copper-focused critical minerals mining company with three long-life operations and a world-class pipeline of copper growth projects in tier-one mining jurisdictions of Canada, Peru and the United States. Hudbay’s operating portfolio includes the Constancia mine in Cusco (Peru), the Snow Lake operations in Manitoba (Canada) and the Copper Mountain mine in British Columbia (Canada). Copper is the primary metal produced by the Company, which is complemented by meaningful gold production and by-product zinc, silver and molybdenum.