HudBay Minerals (NYSE:HBM) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of HudBay Minerals (NYSE:HBM) (TSE:HBM) from a buy rating to a strong-buy rating in a research note published on Monday.

Several other brokerages have also weighed in on HBM. CIBC reaffirmed an “outperform” rating on shares of HudBay Minerals in a research report on Tuesday, July 15th. Royal Bank Of Canada restated an “outperform” rating on shares of HudBay Minerals in a research note on Thursday, August 14th. Scotiabank reiterated an “outperform” rating on shares of HudBay Minerals in a research report on Tuesday, May 13th. National Bankshares reissued an “outperform” rating on shares of HudBay Minerals in a report on Thursday, August 14th. Finally, Veritas upgraded HudBay Minerals to a “strong-buy” rating in a research report on Monday, July 7th. Two research analysts have rated the stock with a Strong Buy rating and six have assigned a Buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy”.

HudBay Minerals Stock Down 1.3%

Shares of NYSE:HBM opened at $11.59 on Monday. The stock has a market capitalization of $4.59 billion, a price-to-earnings ratio of 15.88, a price-to-earnings-growth ratio of 0.28 and a beta of 1.63. HudBay Minerals has a 1-year low of $5.95 and a 1-year high of $12.10. The company’s fifty day moving average is $10.30 and its two-hundred day moving average is $8.78. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.86 and a current ratio of 1.03.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last posted its quarterly earnings results on Wednesday, August 13th. The mining company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.11 by $0.08. HudBay Minerals had a net margin of 13.13% and a return on equity of 10.73%. The business had revenue of $536.40 million during the quarter, compared to analyst estimates of $558.21 million. HudBay Minerals’s revenue for the quarter was up 26.1% compared to the same quarter last year. Equities analysts anticipate that HudBay Minerals will post 0.79 EPS for the current year.

HudBay Minerals Increases Dividend

The company also recently announced a semi-annual dividend, which will be paid on Friday, September 19th. Shareholders of record on Tuesday, September 2nd will be paid a dividend of $0.0073 per share. This is an increase from HudBay Minerals’s previous semi-annual dividend of $0.01. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a yield of 10.0%. HudBay Minerals’s dividend payout ratio (DPR) is presently 1.37%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HBM. GMT Capital Corp acquired a new position in shares of HudBay Minerals during the 2nd quarter worth $337,809,000. Hancock Prospecting Pty Ltd acquired a new position in HudBay Minerals during the second quarter worth $154,359,000. Picton Mahoney Asset Management bought a new position in HudBay Minerals during the second quarter valued at about $61,432,000. Norges Bank acquired a new stake in shares of HudBay Minerals in the second quarter worth about $60,053,000. Finally, Millennium Management LLC lifted its holdings in HudBay Minerals by 298.5% in the 1st quarter. Millennium Management LLC now owns 6,115,053 shares of the mining company’s stock worth $46,411,000 after purchasing an additional 4,580,718 shares during the last quarter. 57.82% of the stock is owned by hedge funds and other 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.