HudBay Minerals Inc (NYSE:HBM) Given Average Rating of “Hold” by Brokerages
Shares of HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) have earned an average recommendation of “Hold” from the twelve ratings firms that are presently covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $8.00.
A number of analysts have recently commented on the company. Zacks Investment Research downgraded HudBay Minerals from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 18th. BidaskClub raised HudBay Minerals from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 13th. ValuEngine downgraded HudBay Minerals from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Finally, Credit Suisse Group reissued a “neutral” rating on shares of HudBay Minerals in a research note on Tuesday, April 18th.
Several large investors have recently made changes to their positions in the company. Norges Bank bought a new stake in shares of HudBay Minerals during the fourth quarter worth about $1,679,000. Bank of Montreal Can raised its stake in shares of HudBay Minerals by 29.9% in the first quarter. Bank of Montreal Can now owns 3,534,946 shares of the mining company’s stock worth $23,154,000 after buying an additional 813,675 shares during the period. James Investment Research Inc. bought a new stake in shares of HudBay Minerals during the first quarter worth about $1,536,000. Acadian Asset Management LLC bought a new stake in shares of HudBay Minerals during the first quarter worth about $1,744,000. Finally, ARP Americas LLC bought a new stake in shares of HudBay Minerals during the first quarter worth about $140,000. 62.84% of the stock is currently owned by institutional investors.
HudBay Minerals (HBM) traded up 4.73% on Tuesday, reaching $7.75. The company’s stock had a trading volume of 549,347 shares. The firm has a 50-day moving average price of $6.15 and a 200 day moving average price of $6.57. The firm’s market capitalization is $1.84 billion. HudBay Minerals has a 52-week low of $3.57 and a 52-week high of $9.15.
The company also recently disclosed a Semi-Annual dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 8th will be paid a $0.008 dividend. This represents a dividend yield of 0.22%. The ex-dividend date of this dividend is Thursday, September 7th. HudBay Minerals’s dividend payout ratio is presently 50.01%.
About HudBay Minerals
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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