Canaccord Genuity reiterated their buy rating on shares of Hudbay Minerals (NYSE:HBM) (TSE:HBM) in a research report sent to investors on Wednesday, AnalystRatings.com reports.

Several other analysts have also issued reports on the stock. Scotiabank upped their price target on shares of Hudbay Minerals from $12.00 to $12.50 and gave the company an outperform rating in a research report on Tuesday, March 30th. Royal Bank of Canada upgraded Hudbay Minerals from a sector perform rating to an outperform rating in a report on Wednesday, March 31st. Stifel Nicolaus raised their price target on Hudbay Minerals from $12.00 to $13.25 and gave the stock a buy rating in a research report on Wednesday, March 31st. CIBC boosted their price objective on Hudbay Minerals from $10.75 to $13.00 and gave the company an outperform rating in a research report on Monday, March 1st. Finally, Raymond James raised Hudbay Minerals from a market perform rating to an outperform rating in a research note on Tuesday. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company. The company has an average rating of Buy and an average target price of $11.20.

HBM opened at $7.91 on Wednesday. The company has a current ratio of 2.21, a quick ratio of 1.81 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $2.07 billion, a P/E ratio of -13.41 and a beta of 2.57. The stock has a 50-day moving average price of $7.18 and a 200-day moving average price of $6.19. Hudbay Minerals has a 12-month low of $1.86 and a 12-month high of $8.39.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last released its earnings results on Thursday, February 18th. The mining company reported ($0.06) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.08) by $0.02. Hudbay Minerals had a negative return on equity of 7.32% and a negative net margin of 14.02%. The company had revenue of $322.29 million during the quarter, compared to the consensus estimate of $289.07 million. On average, equities research analysts predict that Hudbay Minerals will post -0.49 EPS for the current year.

The firm also recently disclosed a semi-annual dividend, which was paid on Friday, March 26th. Shareholders of record on Tuesday, March 9th were issued a $0.0079 dividend. The ex-dividend date of this dividend was Monday, March 8th. This represents a yield of 0.2%. This is a boost from Hudbay Minerals’s previous semi-annual dividend of $0.01.

A number of hedge funds have recently made changes to their positions in the stock. Van ECK Associates Corp increased its position in Hudbay Minerals by 55.6% during the 4th quarter. Van ECK Associates Corp now owns 4,850 shares of the mining company’s stock valued at $34,000 after purchasing an additional 1,734 shares during the period. Toronto Dominion Bank lifted its position in shares of Hudbay Minerals by 2.7% in the 4th quarter. Toronto Dominion Bank now owns 116,290 shares of the mining company’s stock worth $813,000 after purchasing an additional 3,058 shares during the period. Exane Derivatives bought a new stake in shares of Hudbay Minerals during the 4th quarter valued at about $34,000. Waratah Capital Advisors Ltd. purchased a new position in shares of Hudbay Minerals during the fourth quarter valued at about $83,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of Hudbay Minerals during the fourth quarter valued at about $89,000. 67.37% of the stock is owned by institutional investors.

About Hudbay Minerals

Hudbay Minerals Inc, a diversified mining company, together with its subsidiaries, focuses on the discovery, production, and marketing of base and precious metals in North and South America. It produces copper concentrates containing copper, gold, and silver; molybdenum concentrates; and zinc metals.

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Analyst Recommendations for Hudbay Minerals (NYSE:HBM)

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