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

Shares of HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) have received a consensus rating of “Moderate Buy” from the fifteen research firms that are presently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to 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.

Several brokerages have recently issued reports on HBM. Weiss Ratings upgraded shares of HudBay Minerals from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, February 10th. National Bank Financial cut HudBay Minerals from an “outperform” rating to a “sector perform” rating in a research note on Wednesday, January 28th. Jefferies Financial Group restated a “buy” rating on shares of HudBay Minerals in a research report on Sunday, December 7th. Raymond James Financial reaffirmed an “outperform” rating on shares of HudBay Minerals in a research note on Wednesday, January 14th. Finally, Wall Street Zen cut HudBay Minerals from a “buy” rating to a “hold” rating in a report on Sunday, March 1st.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. FIL Ltd lifted its holdings in shares of HudBay Minerals by 202.0% in the 4th quarter. FIL Ltd now owns 33,143,172 shares of the mining company’s stock worth $658,010,000 after acquiring an additional 22,169,339 shares during the last quarter. GMT Capital Corp bought a new position in HudBay Minerals during the 2nd quarter valued at about $337,809,000. Vanguard Group Inc. raised its position in HudBay Minerals by 2.4% in the 3rd quarter. Vanguard Group Inc. now owns 16,198,255 shares of the mining company’s stock worth $245,355,000 after purchasing an additional 373,399 shares during the period. L1 Capital Pty Ltd raised its position in HudBay Minerals by 4.4% in the 2nd quarter. L1 Capital Pty Ltd now owns 15,054,087 shares of the mining company’s stock worth $159,864,000 after purchasing an additional 630,703 shares during the period. Finally, Hancock Prospecting Pty Ltd bought a new stake in HudBay Minerals in the second quarter worth about $154,359,000. Institutional investors own 57.82% of the company’s stock.

HudBay Minerals Trading Down 6.2%

HBM stock opened at $18.65 on Friday. The firm has a fifty day moving average price of $24.30 and a 200 day moving average price of $19.14. HudBay Minerals has a fifty-two week low of $5.95 and a fifty-two week high of $28.74. The firm has a market cap of $7.40 billion, a PE ratio of 13.04, a price-to-earnings-growth ratio of 0.27 and a beta of 1.27. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.78 and a current ratio of 0.95.

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 analysts’ consensus estimates of $0.40 by ($0.18). HudBay Minerals had a net margin of 25.71% and a return on equity of 8.91%. The business had revenue of $732.90 million for the quarter, compared to analysts’ expectations of $730.13 million. During the same period in the previous year, the company earned $0.18 EPS. HudBay Minerals’s revenue for the quarter was up 25.3% compared to the same quarter last year. Sell-side analysts anticipate that HudBay Minerals will post 0.79 earnings per share for the current fiscal year.

HudBay Minerals Dividend Announcement

The business also recently declared a dividend, which will be paid on Friday, March 27th. Investors of record on Tuesday, March 10th will be given a $0.01 dividend. The ex-dividend date is Tuesday, March 10th. This represents a yield of 9.0%. HudBay Minerals’s dividend payout ratio (DPR) is currently 0.70%.

About HudBay Minerals

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.