HudBay Minerals Inc (NYSE:HBM) Given Consensus Rating of “Moderate Buy” by Brokerages

HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) has earned an average recommendation of “Moderate Buy” from the fifteen research firms that are currently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $26.00.

A number of brokerages have recently issued reports on HBM. Raymond James Financial reissued an “outperform” rating on shares of HudBay Minerals in a research note on Wednesday, January 14th. UBS Group assumed coverage on shares of HudBay Minerals in a report on Thursday, January 8th. They set a “buy” rating for the company. Zacks Research cut shares of HudBay Minerals from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 17th. Jefferies Financial Group restated a “buy” rating on shares of HudBay Minerals in a research note on Sunday, December 7th. Finally, Wall Street Zen lowered shares of HudBay Minerals from a “buy” rating to a “hold” rating in a research report on Sunday, March 1st.

Institutional Investors Weigh In On HudBay Minerals

A number of institutional investors and 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 buying an additional 22,169,339 shares during the period. GMT Capital Corp purchased a new position in shares of HudBay Minerals during the second quarter valued at $337,809,000. Vanguard Group Inc. raised its holdings in shares of HudBay Minerals by 2.4% in the third quarter. Vanguard Group Inc. now owns 16,198,255 shares of the mining company’s stock valued at $245,355,000 after acquiring an additional 373,399 shares in the last quarter. L1 Capital Pty Ltd raised its holdings in shares of HudBay Minerals by 4.4% in the second quarter. L1 Capital Pty Ltd now owns 15,054,087 shares of the mining company’s stock valued at $159,864,000 after acquiring an additional 630,703 shares in the last quarter. Finally, Hancock Prospecting Pty Ltd purchased a new stake in HudBay Minerals in the second quarter worth about $154,359,000. 57.82% of the stock is owned by institutional investors.

HudBay Minerals Price Performance

Shares of HBM stock opened at $18.65 on Friday. HudBay Minerals has a 52-week low of $5.95 and a 52-week high of $28.74. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.78 and a current ratio of 0.95. The firm has a market capitalization of $7.40 billion, a P/E ratio of 13.04, a P/E/G ratio of 0.27 and a beta of 1.27. The stock has a 50 day moving average price of $24.30 and a 200 day moving average price of $19.14.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last announced its quarterly earnings data on Friday, February 20th. The mining company reported $0.22 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $730.13 million. During the same period last year, the company earned $0.18 EPS. The business’s revenue was up 25.3% compared to the same quarter last year. As a group, sell-side analysts predict that HudBay Minerals will post 0.79 earnings per share for the current year.

HudBay Minerals Announces Dividend

The company also recently disclosed a dividend, which will be paid on Friday, March 27th. Investors of record on Tuesday, March 10th will be paid a $0.01 dividend. The ex-dividend date of this dividend is Tuesday, March 10th. This represents a yield of 9.0%. HudBay Minerals’s dividend payout ratio is 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.