HudBay Minerals Inc (NYSE:HBM) Stock Has Average Target Price of $31.33

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

Several equities research analysts have issued reports on the company. Jefferies Financial Group reissued a “buy” rating on shares of HudBay Minerals in a research note on Monday, July 6th. Barclays reiterated an “overweight” rating on shares of HudBay Minerals in a report on Tuesday, October 6th. Weiss Ratings upgraded shares of HudBay Minerals from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday. Bank of America dropped their price target on HudBay Minerals from $33.50 to $29.50 and set a “buy” rating on the stock in a research note on Thursday, July 9th. Finally, Citigroup restated a “positive” rating on shares of HudBay Minerals in a research note on Wednesday, July 15th.

Hedge Funds Weigh In On HudBay Minerals

A number of large investors have recently modified their holdings of the business. First Trust Advisors LP lifted its position in shares of HudBay Minerals by 35.3% during the 1st quarter. First Trust Advisors LP now owns 229,948 shares of the mining company’s stock valued at $4,814,000 after acquiring an additional 60,025 shares during the period. Bank of America Corp DE boosted its stake in shares of HudBay Minerals by 53.3% during the 1st quarter. Bank of America Corp DE now owns 1,883,698 shares of the mining company’s stock worth $39,369,000 after purchasing an additional 655,308 shares during the last quarter. HighTower Advisors LLC boosted its position in HudBay Minerals by 532.0% during the second quarter. HighTower Advisors LLC now owns 137,766 shares of the mining company’s stock worth $3,253,000 after acquiring an additional 115,968 shares during the last quarter. Goehring & Rozencwajg Associates LLC grew its position in shares of 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. Finally, Amundi grew its holdings in HudBay Minerals by 14.8% in the 2nd quarter. Amundi now owns 1,237,690 shares of the mining company’s stock valued at $29,222,000 after buying an additional 159,219 shares during the period. 57.82% of the stock is owned by hedge funds and other institutional investors.

HudBay Minerals Price Performance

HBM stock opened at $25.79 on Tuesday. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.24 and a quick ratio of 1.93. The business has a 50 day simple moving average of $27.25 and a 200-day simple moving average of $25.27. The firm has a market capitalization of $11.45 billion, a PE ratio of 15.17, a price-to-earnings-growth ratio of 0.45 and a beta of 1.58. HudBay Minerals has a 1 year low of $14.34 and a 1 year high of $32.15.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last posted its quarterly 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. HudBay Minerals had a return on equity of 9.47% and a net margin of 27.48%. The business had revenue of $631.30 million for the quarter, compared to analyst estimates of $632.43 million. During the same quarter in the previous year, the firm earned $0.19 EPS. The company’s quarterly revenue was up 17.7% compared to the same quarter last year. Equities research analysts anticipate that HudBay Minerals will post 1.45 earnings per share for the current fiscal year.

HudBay Minerals Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 25th. Shareholders of record on Tuesday, September 8th were given a dividend of C$0.01 per share. The ex-dividend date was Tuesday, September 8th. This represents a $0.04 dividend on an annualized basis and a yield of 0.2%. HudBay Minerals’s dividend payout ratio is presently 1.18%.

About HudBay Minerals

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.