HudBay Minerals Inc (NYSE:HBM) Receives Consensus Recommendation of “Buy” from Analysts

Shares of HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) have been assigned an average rating of “Buy” from the fourteen brokerages that are presently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation, ten have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $27.3333.

HBM has been the topic of several recent analyst reports. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of HudBay Minerals in a report on Tuesday, April 21st. Wall Street Zen raised HudBay Minerals from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Barclays initiated coverage on HudBay Minerals in a report on Thursday, May 21st. They issued an “overweight” rating and a $30.00 target price on the stock. Zacks Research lowered HudBay Minerals from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 17th. Finally, Weiss Ratings cut HudBay Minerals from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday.

Institutional Trading of HudBay Minerals

Several institutional investors have recently modified their holdings of HBM. Jones Financial Companies Lllp lifted its position in shares of HudBay Minerals by 131.6% during the 1st quarter. Jones Financial Companies Lllp now owns 6,570 shares of the mining company’s stock worth $50,000 after buying an additional 3,733 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in HudBay Minerals by 144.2% in the first quarter. Goldman Sachs Group Inc. now owns 7,281,095 shares of the mining company’s stock valued at $55,264,000 after acquiring an additional 4,299,428 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in HudBay Minerals by 6.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 439,687 shares of the mining company’s stock valued at $3,337,000 after acquiring an additional 27,944 shares in the last quarter. Geode Capital Management LLC boosted its stake in HudBay Minerals by 7.4% in the second quarter. Geode Capital Management LLC now owns 221,685 shares of the mining company’s stock valued at $2,363,000 after acquiring an additional 15,235 shares in the last quarter. Finally, Creative Planning boosted its stake in HudBay Minerals by 5.4% in the second quarter. Creative Planning now owns 25,067 shares of the mining company’s stock valued at $266,000 after acquiring an additional 1,289 shares in the last quarter. Hedge funds and other institutional investors own 57.82% of the company’s stock.

HudBay Minerals Stock Down 2.1%

Shares of HudBay Minerals stock opened at $25.57 on Wednesday. HudBay Minerals has a 52-week low of $8.93 and a 52-week high of $32.15. The company has a 50 day moving average of $24.92 and a 200 day moving average of $22.82. The company has a quick ratio of 1.20, a current ratio of 1.36 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $10.16 billion, a P/E ratio of 15.41, a P/E/G ratio of 0.30 and a beta of 1.43.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last issued its quarterly earnings results on Friday, May 1st. The mining company reported $0.40 earnings per share (EPS) for the quarter, topping 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 company had revenue of $757.30 million during the quarter, compared to the consensus estimate of $684.73 million. During the same quarter in the previous year, the firm earned $0.24 earnings per share. The firm’s quarterly revenue was up 27.3% on a year-over-year basis. As a group, research analysts forecast that HudBay Minerals will post 1.66 EPS for the current fiscal year.

HudBay Minerals Announces Dividend

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

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.