HudBay Minerals (NYSE:HBM) Upgraded 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 report issued on Saturday morning,Wall Street Zen reports.

Other analysts have also issued research reports about the stock. Weiss Ratings upgraded shares of HudBay Minerals from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. Citigroup reissued a “positive” rating on shares of HudBay Minerals in a research note on Wednesday, July 15th. Scotiabank restated an “outperform” rating on shares of HudBay Minerals in a research report on Thursday, July 30th. Jefferies Financial Group restated a “buy” rating on shares of HudBay Minerals in a research report on Monday, July 6th. Finally, Bank of America decreased their price target on shares of HudBay Minerals from $33.50 to $29.50 and set a “buy” rating on the stock in a research note on Thursday, July 9th. Ten analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $31.33.

HudBay Minerals Price Performance

Shares of HBM opened at $23.88 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.24 and a quick ratio of 1.93. The company’s fifty day moving average price is $27.03 and its 200-day moving average price is $25.43. HudBay Minerals has a 1-year low of $14.34 and a 1-year high of $32.15. The firm has a market capitalization of $10.61 billion, a PE ratio of 14.05, a price-to-earnings-growth ratio of 0.41 and a beta of 1.58.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last issued its quarterly earnings results on Wednesday, July 29th. The mining company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.02. The company had revenue of $631.30 million for the quarter, compared to the consensus estimate of $632.43 million. HudBay Minerals had a net margin of 27.48% and a return on equity of 9.47%. HudBay Minerals’s quarterly revenue was up 17.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.19 EPS. On average, equities research analysts predict that HudBay Minerals will post 1.43 EPS for the current year.

HudBay Minerals Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Tuesday, September 8th were issued a C$0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.2%. The ex-dividend date was Tuesday, September 8th. HudBay Minerals’s dividend payout ratio is currently 1.76%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. First Trust Advisors LP boosted its stake in HudBay Minerals by 35.3% in the first quarter. First Trust Advisors LP now owns 229,948 shares of the mining company’s stock valued at $4,814,000 after acquiring an additional 60,025 shares in the last quarter. Bank of America Corp DE raised its position in HudBay Minerals by 53.3% during the 1st quarter. Bank of America Corp DE now owns 1,883,698 shares of the mining company’s stock worth $39,369,000 after buying an additional 655,308 shares during the last quarter. HighTower Advisors LLC lifted its position in HudBay Minerals by 532.0% in the second quarter. HighTower Advisors LLC now owns 137,766 shares of the mining company’s stock valued at $3,253,000 after purchasing an additional 115,968 shares during the period. Amundi lifted its holdings in shares of HudBay Minerals by 14.8% in the 2nd quarter. Amundi now owns 1,237,690 shares of the mining company’s stock valued at $29,222,000 after buying an additional 159,219 shares during the period. Finally, Acasta Partners UK LLP boosted its position in shares of HudBay Minerals by 75.7% during the 3rd quarter. Acasta Partners UK LLP now owns 197,352 shares of the mining company’s stock worth $5,270,000 after purchasing an additional 85,000 shares in the last quarter. Institutional investors and hedge funds own 57.82% of the company’s stock.

HudBay Minerals Company Profile

Hudbay Minerals Inc is a Canadian mining company focused primarily on the exploration, development, and operation of copper, gold, zinc, and silver deposits. Copper is its principal product, with associated precious and base metals produced from several of its operations.

The company operates in Canada, Peru, and the United States. Its assets include the Constancia copper-molybdenum mine in southern Peru; the Snow Lake operations in Manitoba, which produce copper, gold, zinc, and silver; and the Copper Mountain mine in British Columbia.