HudBay Minerals Inc (HBM) Price Target Raised to $10.75 at BMO Capital Markets
HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) had its price target upped by BMO Capital Markets from $10.50 to $10.75 in a report released on Monday morning. The brokerage currently has a market perform rating on the mining company’s stock.
Several other equities research analysts have also weighed in on HBM. TheStreet upgraded shares of HudBay Minerals from a d+ rating to a c- rating in a report on Monday, August 14th. BidaskClub raised shares of HudBay Minerals from a strong sell rating to a sell rating in a report on Tuesday, June 27th. ValuEngine cut shares of HudBay Minerals from a buy rating to a hold rating in a research report on Tuesday, July 25th. J P Morgan Chase & Co raised HudBay Minerals from a neutral rating to an overweight rating in a research note on Tuesday, September 5th. Finally, Zacks Investment Research raised HudBay Minerals from a sell rating to a hold rating in a research note on Thursday, August 10th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company. The stock currently has a consensus rating of Hold and an average target price of $8.81.
Shares of HudBay Minerals (NYSE HBM) opened at 7.55 on Monday. The firm has a market cap of $1.79 billion, a PE ratio of 188.75 and a beta of 3.21. The stock has a 50 day moving average price of $8.01 and a 200 day moving average price of $6.62. HudBay Minerals has a 12 month low of $3.67 and a 12 month high of $9.35.
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The company also recently declared a Semi-Annual dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 8th were paid a $0.008 dividend. This represents a dividend yield of 0.22%. The ex-dividend date was Thursday, September 7th. HudBay Minerals’s dividend payout ratio is 50.01%.
Several hedge funds have recently bought and sold shares of HBM. GMT Capital Corp grew its holdings in shares of HudBay Minerals by 13.7% during the second quarter. GMT Capital Corp now owns 30,599,600 shares of the mining company’s stock worth $172,813,000 after buying an additional 3,678,300 shares in the last quarter. FMR LLC bought a new stake in HudBay Minerals in the 1st quarter valued at approximately $23,754,000. Commonwealth Bank of Australia bought a new stake in HudBay Minerals in the 2nd quarter valued at approximately $9,092,000. Letko Brosseau & Associates Inc. lifted its stake in HudBay Minerals by 5.7% in the 2nd quarter. Letko Brosseau & Associates Inc. now owns 27,363,164 shares of the mining company’s stock valued at $158,022,000 after acquiring an additional 1,469,514 shares in the last quarter. Finally, AGF Investments Inc. lifted its stake in HudBay Minerals by 26.2% in the 2nd quarter. AGF Investments Inc. now owns 2,585,096 shares of the mining company’s stock valued at $14,959,000 after acquiring an additional 536,938 shares in the last quarter. 64.86% of the stock is owned by institutional investors.
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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