HudBay Minerals (NYSE:HBM) Price Target Raised to $19.50 at Bank of America

HudBay Minerals (NYSE:HBM) (TSE:HBM) had its target price hoisted by Bank of America from $16.50 to $19.50 in a report published on Thursday,Benzinga reports. The brokerage currently has a buy rating on the mining company’s stock.

Other equities analysts have also recently issued reports about the company. Royal Bank Of Canada restated an “outperform” rating on shares of HudBay Minerals in a research note on Thursday, August 14th. Weiss Ratings restated a “buy (b-)” rating on shares of HudBay Minerals in a research note on Wednesday, October 8th. Veritas upgraded HudBay Minerals to a “strong-buy” rating in a research note on Monday, July 7th. Wall Street Zen upgraded HudBay Minerals from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, September 10th. Finally, Zacks Research upgraded HudBay Minerals from a “hold” rating to a “strong-buy” rating in a research note on Monday. Three research analysts have rated the stock with a Strong Buy rating and ten have given a Buy rating to the stock. According to MarketBeat, HudBay Minerals presently has an average rating of “Buy” and a consensus price target of $19.50.

HudBay Minerals Trading Down 0.4%

HBM opened at $17.24 on Thursday. The stock has a market capitalization of $6.83 billion, a PE ratio of 23.62 and a beta of 1.55. The firm’s fifty day moving average price is $13.44 and its 200 day moving average price is $10.41. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.03 and a quick ratio of 0.86. HudBay Minerals has a 12-month low of $5.95 and a 12-month high of $17.73.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last posted its quarterly earnings results on Wednesday, August 13th. The mining company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.08. The firm had revenue of $536.40 million for the quarter, compared to analysts’ expectations of $558.21 million. HudBay Minerals had a net margin of 13.13% and a return on equity of 10.73%. The firm’s quarterly revenue was up 26.1% compared to the same quarter last year. As a group, research analysts expect that HudBay Minerals will post 0.79 EPS for the current fiscal year.

HudBay Minerals Increases Dividend

The business also recently announced a semi-annual dividend, which was paid on Friday, September 19th. Shareholders of record on Tuesday, September 2nd were given a $0.0073 dividend. This is a boost from HudBay Minerals’s previous semi-annual dividend of $0.01. This represents a yield of 17.0%. The ex-dividend date of this dividend was Tuesday, September 2nd. HudBay Minerals’s dividend payout ratio is 1.37%.

Institutional Investors Weigh In On HudBay Minerals

Large investors have recently added to or reduced their stakes in the stock. SBI Securities Co. Ltd. increased its position in HudBay Minerals by 64.6% in the first quarter. SBI Securities Co. Ltd. now owns 3,773 shares of the mining company’s stock worth $29,000 after buying an additional 1,481 shares during the period. Banque Cantonale Vaudoise bought a new stake in shares of HudBay Minerals during the first quarter valued at about $33,000. Jones Financial Companies Lllp raised its stake in shares of HudBay Minerals by 131.6% during the first quarter. Jones Financial Companies Lllp now owns 6,570 shares of the mining company’s stock valued at $50,000 after purchasing an additional 3,733 shares in the last quarter. Plato Investment Management Ltd bought a new stake in shares of HudBay Minerals during the second quarter valued at about $84,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of HudBay Minerals during the second quarter valued at about $116,000. 57.82% of the stock is owned by institutional investors and hedge funds.

About HudBay Minerals

Hudbay Minerals Inc, a diversified mining company, focuses on the exploration, development, operation, and optimization of properties in North and South America. It produces copper concentrates containing gold, silver, and molybdenum; gold concentrates containing zinc; zinc concentrates; molybdenum concentrates; and silver/gold doré.