Hudbay Minerals (NYSE:HBM) Earns Outperform Rating from Analysts at BMO Capital Markets

BMO Capital Markets assumed coverage on shares of Hudbay Minerals (NYSE:HBM) (TSE:HBM) in a research report report published on Wednesday morning, Marketbeat reports. The brokerage issued an outperform rating on the mining company’s stock.

HBM has been the subject of several other research reports. Stifel Canada raised Hudbay Minerals to a “strong-buy” rating in a research report on Wednesday, March 19th. StockNews.com raised Hudbay Minerals from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Finally, Desjardins initiated coverage on shares of Hudbay Minerals in a report on Friday, April 4th. They set a “buy” rating on the stock. Four research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $14.00.

Hudbay Minerals Stock Performance

NYSE:HBM opened at $7.04 on Wednesday. The company has a quick ratio of 1.47, a current ratio of 1.86 and a debt-to-equity ratio of 0.44. Hudbay Minerals has a twelve month low of $5.95 and a twelve month high of $10.49. The stock has a market cap of $2.78 billion, a P/E ratio of 39.12 and a beta of 1.62. The firm’s fifty day simple moving average is $7.48 and its 200 day simple moving average is $8.38.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last announced its earnings results on Wednesday, February 19th. The mining company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.02). Hudbay Minerals had a net margin of 3.80% and a return on equity of 7.29%. The company had revenue of $584.90 million for the quarter, compared to the consensus estimate of $588.28 million. During the same period in the previous year, the firm posted $0.20 EPS. The company’s revenue for the quarter was down 2.9% on a year-over-year basis. As a group, research analysts predict that Hudbay Minerals will post 0.79 EPS for the current year.

Hudbay Minerals Increases Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Friday, March 21st. Investors of record on Tuesday, March 4th were given a dividend of $0.007 per share. This represents a yield of 0.2%. The ex-dividend date was Tuesday, March 4th. This is a positive change from Hudbay Minerals’s previous semi-annual dividend of $0.01. Hudbay Minerals’s dividend payout ratio (DPR) is 5.56%.

Institutional Investors Weigh In On Hudbay Minerals

Hedge funds have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC raised its position in shares of Hudbay Minerals by 9,877.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,093 shares of the mining company’s stock worth $25,000 after purchasing an additional 3,062 shares during the last quarter. Algert Global LLC purchased a new position in Hudbay Minerals in the fourth quarter worth about $86,000. Plato Investment Management Ltd bought a new position in shares of Hudbay Minerals in the fourth quarter worth approximately $95,000. Hsbc Holdings PLC purchased a new stake in shares of Hudbay Minerals during the fourth quarter valued at approximately $97,000. Finally, Advisory Services Network LLC bought a new stake in shares of Hudbay Minerals during the fourth quarter valued at approximately $101,000. 57.82% of the stock is owned by institutional investors.

About Hudbay Minerals

Hudbay Minerals Inc, a diversified mining company, focuses on the exploration, development, operation, and optimization of properties in North and South America. It produces copper concentrates containing gold, silver, and molybdenum; gold concentrates containing zinc; zinc concentrates; molybdenum concentrates; and silver/gold doré.