HudBay Minerals (NYSE:HBM) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of HudBay Minerals (NYSE:HBM) (TSE:HBM) from a hold rating to a buy rating in a research report sent to investors on Saturday morning.

A number of other research analysts also recently commented on the stock. Jefferies Financial Group reaffirmed a “buy” rating on shares of HudBay Minerals in a research report on Sunday, December 7th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of HudBay Minerals in a research note on Thursday, January 15th. Scotiabank reiterated an “outperform” rating on shares of HudBay Minerals in a research report on Monday, January 26th. Weiss Ratings raised shares of HudBay Minerals from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, February 10th. Finally, Zacks Research cut shares of HudBay Minerals from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 17th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, HudBay Minerals presently has an average rating of “Moderate Buy” and an average price target of $26.00.

HudBay Minerals Stock Down 0.1%

NYSE:HBM opened at $21.62 on Friday. The business’s fifty day moving average price is $23.58 and its 200 day moving average price is $19.71. The firm has a market capitalization of $8.58 billion, a price-to-earnings ratio of 15.12, a PEG ratio of 0.30 and a beta of 1.41. The company has a current ratio of 0.95, a quick ratio of 0.78 and a debt-to-equity ratio of 0.18. HudBay Minerals has a 1-year low of $5.95 and a 1-year high of $28.74.

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 analysts’ consensus estimates of $0.40 by ($0.18). The business had revenue of $732.90 million for the quarter, compared to analyst estimates of $730.13 million. HudBay Minerals had a return on equity of 8.91% and a net margin of 25.71%.The company’s revenue was up 25.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.18 earnings per share. On average, sell-side analysts forecast that HudBay Minerals will post 0.79 earnings per share for the current fiscal year.

HudBay Minerals Dividend Announcement

The firm also recently disclosed a dividend, which was paid on Friday, March 27th. Investors of record on Tuesday, March 10th were given a dividend of $0.01 per share. This represents a yield of 9.0%. The ex-dividend date of this dividend was Tuesday, March 10th. HudBay Minerals’s dividend payout ratio (DPR) is presently 0.70%.

Institutional Trading of HudBay Minerals

Several large investors have recently added to or reduced their stakes in HBM. Rockefeller Capital Management L.P. raised its holdings in shares of HudBay Minerals by 25.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 4,933 shares of the mining company’s stock valued at $98,000 after purchasing an additional 986 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in HudBay Minerals in the fourth quarter worth $143,000. DGS Capital Management LLC bought a new stake in HudBay Minerals in the fourth quarter worth $212,000. Mackenzie Financial Corp increased its position in HudBay Minerals by 116.1% during the fourth quarter. Mackenzie Financial Corp now owns 10,178,626 shares of the mining company’s stock worth $202,327,000 after buying an additional 5,468,109 shares during the last quarter. Finally, Empowered Funds LLC raised its holdings in HudBay Minerals by 104.7% during the fourth quarter. Empowered Funds LLC now owns 23,903 shares of the mining company’s stock valued at $474,000 after buying an additional 12,228 shares in the last quarter. 57.82% of the stock is owned by institutional investors.

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.