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

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

HBM has been the topic of a number of research analyst reports. Citigroup upped their target price on shares of HudBay Minerals from $23.00 to $32.50 and gave the company a “buy” rating in a report on Wednesday, February 11th. Weiss Ratings raised shares of HudBay Minerals from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, February 10th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of HudBay Minerals in a report on Tuesday, April 21st. National Bank Financial cut shares of HudBay Minerals from an “outperform” rating to a “sector perform” rating in a report on Wednesday, January 28th. Finally, Zacks Research cut shares of HudBay Minerals from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 17th.

HudBay Minerals Stock Down 8.6%

Shares of HBM stock opened at $24.95 on Friday. 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’s 50-day moving average is $22.80 and its 200-day moving average is $21.47. The stock has a market cap of $9.91 billion, a price-to-earnings ratio of 15.03, a PEG ratio of 0.32 and a beta of 1.37. HudBay Minerals has a 52-week low of $7.94 and a 52-week high of $28.74.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last issued its earnings results on Friday, May 1st. The mining company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.06. The company had revenue of $757.30 million for the quarter, compared to analysts’ expectations of $684.73 million. HudBay Minerals had a net margin of 27.75% and a return on equity of 10.04%. HudBay Minerals’s quarterly revenue was up 27.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.24 EPS. Sell-side analysts predict that HudBay Minerals will post 1.65 EPS for the current year.

HudBay Minerals Announces Dividend

The business 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 $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, June 9th. HudBay Minerals’s dividend payout ratio is currently 1.20%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Waterfront Wealth Inc. raised its holdings in HudBay Minerals by 1.0% in the 4th quarter. Waterfront Wealth Inc. now owns 39,451 shares of the mining company’s stock valued at $783,000 after acquiring an additional 399 shares during the period. Strong Tower Advisory Services raised its holdings in HudBay Minerals by 0.6% in the 4th quarter. Strong Tower Advisory Services now owns 94,762 shares of the mining company’s stock valued at $1,881,000 after acquiring an additional 587 shares during the period. Vontobel Holding Ltd. raised its holdings in HudBay Minerals by 0.6% in the 4th quarter. Vontobel Holding Ltd. now owns 126,090 shares of the mining company’s stock valued at $2,503,000 after acquiring an additional 738 shares during the period. Savant Capital LLC raised its holdings in HudBay Minerals by 2.4% in the 3rd quarter. Savant Capital LLC now owns 32,010 shares of the mining company’s stock valued at $485,000 after acquiring an additional 760 shares during the period. Finally, Rockefeller Capital Management L.P. raised its holdings in HudBay Minerals by 25.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 4,933 shares of the mining company’s stock valued at $98,000 after acquiring an additional 986 shares during the period. 57.82% of the stock is owned by institutional investors.

HudBay Minerals Company Profile

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.