Analysts Set HudBay Minerals Inc. (NYSE:HBM) Price Target at $7.66
Shares of HudBay Minerals Inc. (NYSE:HBM) have been given a consensus recommendation of “Hold” by the fourteen ratings firms that are currently covering the stock. Two analysts have rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $7.61.
A number of research analysts have recently weighed in on HBM shares. RBC Capital Markets restated an “outperform” rating and set a $8.00 price objective (up previously from $7.50) on shares of HudBay Minerals in a research report on Wednesday, August 3rd. Zacks Investment Research lowered HudBay Minerals from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 28th. Credit Suisse Group AG lowered HudBay Minerals from an “outperform” rating to a “neutral” rating in a research report on Thursday, July 28th. Scotiabank restated an “outperform” rating and set a $8.00 price objective on shares of HudBay Minerals in a research report on Thursday, July 28th. Finally, TD Securities restated a “hold” rating and set a $7.50 price objective on shares of HudBay Minerals in a research report on Thursday, August 4th.
Several hedge funds have recently bought and sold shares of HBM. BlackRock Fund Advisors increased its stake in HudBay Minerals by 1.1% in the first quarter. BlackRock Fund Advisors now owns 49,772 shares of the mining company’s stock valued at $183,000 after buying an additional 535 shares in the last quarter. A.R.T. Advisors LLC increased its stake in HudBay Minerals by 285.8% in the second quarter. A.R.T. Advisors LLC now owns 47,653 shares of the mining company’s stock valued at $227,000 after buying an additional 35,300 shares in the last quarter. Acadian Asset Management LLC bought a new stake in HudBay Minerals during the second quarter valued at $382,000. Flow Traders U.S. LLC bought a new stake in HudBay Minerals during the second quarter valued at $389,000. Finally, PineBridge Investments L.P. increased its stake in HudBay Minerals by 16.2% in the second quarter. PineBridge Investments L.P. now owns 65,773 shares of the mining company’s stock valued at $406,000 after buying an additional 9,160 shares in the last quarter. 66.87% of the stock is owned by hedge funds and other institutional investors.
HudBay Minerals (NYSE:HBM) opened at 3.70 on Monday. The company’s market cap is $874.05 million. HudBay Minerals has a 52-week low of $1.56 and a 52-week high of $6.02. The firm’s 50-day moving average price is $4.33 and its 200-day moving average price is $4.31.
HudBay Minerals (NYSE:HBM) last issued its quarterly earnings data on Wednesday, July 27th. The mining company reported ($0.02) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.05 by $0.07. The firm had revenue of $247 million for the quarter, compared to analysts’ expectations of $249.18 million. HudBay Minerals had a negative net margin of 26.09% and a positive return on equity of 0.50%. The company’s revenue for the quarter was up 63.7% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.24) EPS. On average, equities analysts anticipate that HudBay Minerals will post $0.08 EPS for the current year.
The business also recently declared a semiannual dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 9th will be paid a dividend of $0.0076 per share. This represents a dividend yield of 0.3%. The ex-dividend date of this dividend is Wednesday, September 7th. This is an increase from HudBay Minerals’s previous semiannual dividend of $0.01. HudBay Minerals’s payout ratio is currently -1.63%.
HudBay Minerals Company Profile
HudBay Minerals Inc is a Canada-based mining company. The Company is engaged in the production of copper concentrate, consisting of copper, gold and silver, as well as zinc metal. The Company is focused on the discovery, production and marketing of base and precious metals. The Company has assets in North and South America.
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