HudBay Minerals Inc. (HBM) Upgraded to “Outperform” at BMO Capital Markets
BMO Capital Markets upgraded shares of HudBay Minerals Inc. (NYSE:HBM) from a market perform rating to an outperform rating in a research report report published on Thursday. BMO Capital Markets currently has $7.00 price target on the mining company’s stock.
A number of other equities analysts also recently issued reports on the company. Credit Suisse Group AG downgraded HudBay Minerals from an outperform rating to a neutral rating in a research report on Thursday, July 28th. Scotiabank reaffirmed an outperform rating and set a $8.00 price target on shares of HudBay Minerals in a research report on Thursday, July 28th. TD Securities reaffirmed a hold rating and set a $7.50 price target on shares of HudBay Minerals in a research report on Thursday, August 4th. Barclays PLC reaffirmed an underweight rating on shares of HudBay Minerals in a research report on Wednesday, August 3rd. Finally, RBC Capital Markets reaffirmed an outperform rating and set a $8.00 price target (up from $7.50) on shares of HudBay Minerals in a research report on Wednesday, August 3rd. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company. The company presently has a consensus rating of Hold and a consensus price target of $7.06.
Shares of HudBay Minerals (NYSE:HBM) traded up 2.17% during trading on Thursday, reaching $3.77. The company had a trading volume of 46,440 shares. The company’s 50 day moving average is $4.16 and its 200-day moving average is $4.30. HudBay Minerals has a 1-year low of $1.56 and a 1-year high of $6.02. The stock’s market capitalization is $890.59 million.
HudBay Minerals (NYSE:HBM) last issued its quarterly earnings results on Wednesday, July 27th. The mining company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by $0.07. The business had revenue of $247 million for the quarter, compared to analyst estimates of $249.18 million. HudBay Minerals had a positive return on equity of 0.50% and a negative net margin of 26.09%. The business’s revenue for the quarter was up 63.7% on a year-over-year basis. During the same period in the previous year, the company posted ($0.24) earnings per share. On average, equities research analysts anticipate that HudBay Minerals will post $0.07 earnings per share for the current year.
The firm also recently disclosed a semiannual dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 9th will be issued a $0.0076 dividend. This is an increase from HudBay Minerals’s previous semiannual dividend of $0.01. The ex-dividend date of this dividend is Wednesday, September 7th. This represents a yield of 0.3%. HudBay Minerals’s dividend payout ratio is presently -1.63%.
A number of hedge funds have recently added to or reduced their stakes in the stock. BlackRock Fund Advisors increased its stake in HudBay Minerals by 1.1% in the first quarter. BlackRock Fund Advisors now owns 49,772 shares of the mining company’s stock worth $183,000 after buying an additional 535 shares during the last quarter. A.R.T. Advisors LLC increased its stake in HudBay Minerals by 285.8% in the second quarter. A.R.T. Advisors LLC now owns 47,653 shares of the mining company’s stock worth $227,000 after buying an additional 35,300 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in HudBay Minerals during the second quarter worth approximately $382,000. Flow Traders U.S. LLC acquired a new stake in HudBay Minerals during the second quarter worth approximately $389,000. Finally, PineBridge Investments L.P. increased its stake in HudBay Minerals by 16.2% in the second quarter. PineBridge Investments L.P. now owns 65,773 shares of the mining company’s stock worth $406,000 after buying an additional 9,160 shares during the last quarter. Institutional investors own 66.87% of the company’s stock.
HudBay Minerals Company Profile
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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