Hudbay Minerals (NYSE:HBM) Raised to “Buy” at StockNews.com

StockNews.com upgraded shares of Hudbay Minerals (NYSE:HBM) (TSE:HBM) from a hold rating to a buy rating in a research report sent to investors on Tuesday morning.

HBM has been the subject of several other reports. Raymond James raised their price objective on Hudbay Minerals from $9.00 to $10.50 and gave the stock an outperform rating in a research note on Wednesday, March 20th. Jefferies Financial Group initiated coverage on Hudbay Minerals in a research note on Friday, May 3rd. They issued a hold rating and a $13.00 price target on the stock. Bank of America raised 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. National Bank Financial raised shares of Hudbay Minerals from a hold rating to a strong-buy rating in a research report on Tuesday, May 14th. Finally, Stifel Nicolaus initiated coverage on shares of Hudbay Minerals in a research report on Tuesday, March 26th. They issued a buy rating for the company. One analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of Buy and an average price target of $10.21.

Hudbay Minerals Price Performance

Shares of NYSE HBM opened at $9.31 on Tuesday. The firm has a 50-day moving average of $8.05 and a two-hundred day moving average of $6.24. The company has a market capitalization of $3.27 billion, a price-to-earnings ratio of 40.46, a PEG ratio of 1.01 and a beta of 1.88. The company has a current ratio of 1.40, a quick ratio of 1.00 and a debt-to-equity ratio of 0.61. Hudbay Minerals has a twelve month low of $3.94 and a twelve month high of $10.49.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last released its earnings results on Tuesday, May 14th. The mining company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.03 by $0.13. The business had revenue of $524.99 million during the quarter, compared to analyst estimates of $463.69 million. Hudbay Minerals had a net margin of 4.36% and a return on equity of 6.22%. As a group, analysts expect that Hudbay Minerals will post 0.44 earnings per share for the current fiscal year.

Hudbay Minerals Cuts Dividend

The business also recently announced a semi-annual dividend, which was paid on Friday, March 22nd. Shareholders of record on Tuesday, March 5th were given a $0.0074 dividend. The ex-dividend date was Monday, March 4th. This represents a yield of 0.3%. Hudbay Minerals’s payout ratio is 4.35%.

Hedge Funds Weigh In On Hudbay Minerals

Several institutional investors and hedge funds have recently modified their holdings of the stock. Banque Cantonale Vaudoise boosted its position in Hudbay Minerals by 38.7% during the first quarter. Banque Cantonale Vaudoise now owns 6,471 shares of the mining company’s stock valued at $45,000 after purchasing an additional 1,806 shares during the last quarter. Bank of Nova Scotia lifted its holdings in shares of Hudbay Minerals by 19.1% during 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 during the last quarter. Barclays PLC grew its stake in shares of Hudbay Minerals by 7.1% in the 3rd quarter. Barclays PLC now owns 63,154 shares of the mining company’s stock valued at $308,000 after buying an additional 4,169 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Hudbay Minerals by 6.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 71,641 shares of the mining company’s stock worth $396,000 after buying an additional 4,655 shares during the last quarter. Finally, Register Financial Advisors LLC bought a new position in Hudbay Minerals during the first quarter valued at approximately $35,000. 57.82% of the stock is currently owned by hedge funds and other institutional investors.

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.