Hudbay Minerals (NYSE:HBM) Now Covered by Jefferies Financial Group

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

Several other research firms also recently issued reports on HBM. Stifel Nicolaus initiated coverage on Hudbay Minerals in a research report on Tuesday, March 26th. They issued a buy rating on the stock. StockNews.com raised Hudbay Minerals from a hold rating to a buy rating in a report on Friday, March 29th. Raymond James increased their price target on shares of Hudbay Minerals from $9.00 to $10.50 and gave the stock an outperform rating in a report on Wednesday, March 20th. Finally, Bank of America upgraded shares of Hudbay Minerals from a neutral rating to a buy rating and set a $9.00 price objective for the company in a research note on Tuesday, April 9th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Hudbay Minerals has a consensus rating of Moderate Buy and an average price target of $10.21.

Hudbay Minerals Stock Up 1.9 %

Hudbay Minerals stock opened at $8.53 on Friday. The business has a fifty day moving average price of $7.15 and a 200-day moving average price of $5.77. 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 $2.99 billion, a price-to-earnings ratio of 41.85, a PEG ratio of 0.91 and a beta of 1.88. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.25 and a quick ratio of 0.87.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last issued 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 business had revenue of $602.20 million for the quarter, compared to analyst estimates of $552.74 million. Hudbay Minerals had a return on equity of 3.86% and a net margin of 3.95%. The company’s revenue was up 87.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.01 earnings per share. Equities research analysts forecast that Hudbay Minerals will post 0.4 EPS for the current fiscal year.

Hudbay Minerals Cuts Dividend

The firm also recently announced a semi-annual dividend, which was paid on Friday, March 22nd. Stockholders 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 of this dividend was Monday, March 4th. Hudbay Minerals’s dividend payout ratio (DPR) is presently 5.00%.

Hedge Funds Weigh In On Hudbay Minerals

A number of hedge funds have recently bought and sold shares of HBM. Register Financial Advisors LLC acquired a new stake in Hudbay Minerals in the 1st quarter valued at $35,000. Banque Cantonale Vaudoise increased its stake in shares of Hudbay Minerals by 38.7% during the first quarter. Banque Cantonale Vaudoise now owns 6,471 shares of the mining company’s stock worth $45,000 after purchasing an additional 1,806 shares in the last quarter. Ballentine Partners LLC purchased a new position in Hudbay Minerals in the 1st quarter valued at about $85,000. Bank of Nova Scotia lifted its stake in Hudbay Minerals by 19.1% in the 3rd quarter. Bank of Nova Scotia now owns 24,843 shares of the mining company’s stock valued at $121,000 after buying an additional 3,979 shares in the last quarter. Finally, Shell Asset Management Co. increased its stake in Hudbay Minerals by 38.6% during the 3rd quarter. Shell Asset Management Co. now owns 26,189 shares of the mining company’s stock worth $128,000 after buying an additional 7,300 shares in the last quarter. Hedge funds and other institutional investors own 57.82% of the company’s stock.

Hudbay Minerals Company Profile

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.