Jefferies Financial Group Begins Coverage on Hudbay Minerals (NYSE:HBM)

Jefferies Financial Group assumed coverage on shares of Hudbay Minerals (NYSE:HBM) (TSE:HBM) in a research note issued to investors on Friday morning, Marketbeat Ratings reports. The firm issued a hold rating and a $13.00 price objective on the mining company’s stock.

A number of other equities analysts have also recently weighed in on the company. Bank of America upgraded Hudbay Minerals from a neutral rating to a buy rating and set a $9.00 price target for the company in a report on Tuesday, April 9th. Stifel Nicolaus started coverage on Hudbay Minerals in a report on Tuesday, March 26th. They issued a buy rating for the company. StockNews.com upgraded Hudbay Minerals from a hold rating to a buy rating in a report on Friday, March 29th. Finally, Raymond James upped their target price on Hudbay Minerals from $9.00 to $10.50 and gave the company an outperform rating in a research report on Wednesday, March 20th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of $10.21.

Hudbay Minerals Stock Up 0.6 %

Shares of NYSE:HBM opened at $8.37 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.87 and a current ratio of 1.25. Hudbay Minerals has a 1 year low of $3.94 and a 1 year high of $8.85. The stock has a market capitalization of $2.94 billion, a P/E ratio of 41.85, a PEG ratio of 0.91 and a beta of 1.88. The stock has a 50-day simple moving average of $7.15 and a 200-day simple moving average of $5.76.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last released its quarterly earnings results on Friday, February 23rd. The mining company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.06. The firm had revenue of $602.20 million during the quarter, compared to analysts’ expectations of $552.74 million. Hudbay Minerals had a return on equity of 3.86% and a net margin of 3.95%. Hudbay Minerals’s quarterly revenue was up 87.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.01 EPS. Equities analysts forecast that Hudbay Minerals will post 0.4 earnings per share for the current year.

Hudbay Minerals Cuts Dividend

The company also recently declared a semi-annual dividend, which was paid on Friday, March 22nd. Investors of record on Tuesday, March 5th were given a dividend of $0.0074 per share. This represents a dividend yield of 0.3%. The ex-dividend date was Monday, March 4th. Hudbay Minerals’s dividend payout ratio is currently 5.00%.

Institutional Investors Weigh In On Hudbay Minerals

Several institutional investors and hedge funds have recently made changes to their positions in HBM. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Hudbay Minerals by 23.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 66,986 shares of the mining company’s stock valued at $327,000 after acquiring an additional 12,748 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Hudbay Minerals by 6.9% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,290,344 shares of the mining company’s stock valued at $35,643,000 after acquiring an additional 467,872 shares in the last quarter. TD Asset Management Inc raised its position in shares of Hudbay Minerals by 9.0% during the 3rd quarter. TD Asset Management Inc now owns 953,290 shares of the mining company’s stock valued at $4,661,000 after acquiring an additional 78,493 shares in the last quarter. CIBC Asset Management Inc raised its position in shares of Hudbay Minerals by 60.3% during the 3rd quarter. CIBC Asset Management Inc now owns 344,750 shares of the mining company’s stock valued at $1,683,000 after acquiring an additional 129,733 shares in the last quarter. Finally, Jennison Associates LLC grew its stake in Hudbay Minerals by 18.5% during the 3rd quarter. Jennison Associates LLC now owns 1,324,367 shares of the mining company’s stock worth $6,451,000 after buying an additional 206,601 shares during the last quarter. 57.82% of the stock is owned by institutional investors and hedge funds.

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.