HudBay Minerals Inc (NYSE:HBM) Given Average Recommendation of “Buy” by Brokerages

HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) has been assigned an average rating of “Buy” from the sixteen research firms that are currently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation, twelve have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $26.00.

HBM has been the subject of several recent research reports. Royal Bank Of Canada restated an “outperform” rating on shares of HudBay Minerals in a report on Monday, November 17th. Weiss Ratings raised shares of HudBay Minerals from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, February 10th. Scotiabank restated an “outperform” rating on shares of HudBay Minerals in a research report on Monday, January 26th. Zacks Research lowered HudBay Minerals from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 17th. Finally, UBS Group began coverage on HudBay Minerals in a report on Thursday, January 8th. They set a “buy” rating on the stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Allworth Financial LP grew its holdings in shares of HudBay Minerals by 107.9% during the third quarter. Allworth Financial LP now owns 1,990 shares of the mining company’s stock worth $30,000 after buying an additional 1,033 shares in the last quarter. Quarry LP acquired a new stake in HudBay Minerals during the third quarter worth approximately $38,000. Global Retirement Partners LLC acquired a new stake in HudBay Minerals during the third quarter worth approximately $45,000. IFP Advisors Inc purchased a new stake in HudBay Minerals in the 3rd quarter worth approximately $45,000. Finally, Banque Cantonale Vaudoise grew its stake in HudBay Minerals by 513.5% in the 3rd quarter. Banque Cantonale Vaudoise now owns 3,172 shares of the mining company’s stock worth $48,000 after acquiring an additional 2,655 shares during the period. 57.82% of the stock is currently owned by hedge funds and other institutional investors.

HudBay Minerals Stock Up 1.0%

HBM opened at $28.32 on Monday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.76 and a current ratio of 0.95. The company has a market cap of $11.24 billion, a price-to-earnings ratio of 19.81, a PEG ratio of 0.70 and a beta of 1.33. HudBay Minerals has a one year low of $5.95 and a one year high of $28.74. The business’s fifty day moving average is $23.71 and its two-hundred day moving average is $18.06.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last released its quarterly earnings results on Friday, February 20th. The mining company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.18). HudBay Minerals had a return on equity of 8.91% and a net margin of 25.71%.The firm had revenue of $732.90 million for the quarter, compared to analyst estimates of $730.13 million. During the same period last year, the firm earned $0.18 EPS. The company’s quarterly revenue was up 25.3% compared to the same quarter last year. Analysts anticipate that HudBay Minerals will post 0.79 EPS for the current fiscal year.

HudBay Minerals Announces Dividend

The business also recently disclosed a dividend, which will be paid on Friday, March 27th. Investors of record on Tuesday, March 10th will be paid a dividend of $0.01 per share. The ex-dividend date of this dividend is Tuesday, March 10th. This represents a dividend yield of 8.0%. HudBay Minerals’s dividend payout ratio (DPR) is presently 0.70%.

HudBay Minerals Company Profile

HudBay Minerals Inc is a Canada-based mining company engaged in the exploration, development and production of base and precious metals. Its primary products include copper, zinc, gold and silver concentrates, which are sold to smelters and refiners worldwide. The company’s operations span multiple stages of the mining cycle, from resource definition and feasibility studies to mine construction, extraction and reclamation.

The company traces its roots back to 1927, when it was established as Hudson Bay Mining & Smelting Co Limited.