Zacks Investment Research upgraded shares of HudBay Minerals Inc. (NYSE:HBM) from a hold rating to a buy rating in a research note issued to investors on Wednesday. They currently have $4.25 price target on the mining company’s stock.
According to Zacks, “HudBay Minerals Inc. is a mining company and engages in discovery, production and marketing of base metals in North and Central America. It owns zinc and copper mines, concentrators and metal production facilities in northern Manitoba and Saskatchewan, zinc oxide production facility in Ontario, copper refinery in Michigan and nickel project in Guatemala. In addition to its primary products, zinc and copper, HudBay also produces gold, silver and zinc oxide. HudBay Minerals Inc. is headquartered in Toronto, Canada. “
Other research analysts have also recently issued research reports about the company. BMO Capital Markets upgraded HudBay Minerals from a market perform rating to an outperform rating and set a $7.00 price target on the stock in a research report on Thursday, September 29th. Credit Suisse Group AG lowered HudBay Minerals from an outperform rating to a neutral rating in a research note on Thursday, July 28th. Scotiabank reissued an outperform rating and set a $8.00 price target on shares of HudBay Minerals in a research note on Thursday, July 28th. TD Securities reissued a hold rating and set a $7.50 price target on shares of HudBay Minerals in a research note on Thursday, August 4th. Finally, Barclays PLC reissued an underweight rating on shares of HudBay Minerals in a research note on Wednesday, August 3rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the company. The stock has an average rating of Buy and an average price target of $7.04.
Shares of HudBay Minerals (NYSE:HBM) opened at 3.74 on Wednesday. The firm’s market cap is $883.50 million. HudBay Minerals has a 52 week low of $1.56 and a 52 week high of $5.74. The stock has a 50 day moving average of $4.01 and a 200 day moving average of $4.31.
HudBay Minerals (NYSE:HBM) last announced its quarterly earnings results on Wednesday, July 27th. The mining company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by $0.07. HudBay Minerals had a negative net margin of 26.09% and a positive return on equity of 0.50%. The business had revenue of $247 million for the quarter, compared to analyst estimates of $249.18 million. During the same period in the prior year, the business earned ($0.24) EPS. The company’s revenue for the quarter was up 63.7% compared to the same quarter last year. Analysts anticipate that HudBay Minerals will post $0.07 earnings per share for the current fiscal year.
The company also recently announced a semiannual dividend, which was paid on Friday, September 30th. Stockholders of record on Friday, September 9th were paid a $0.0076 dividend. This represents a dividend yield of 0.3%. The ex-dividend date of this dividend was Wednesday, September 7th. This is a boost from HudBay Minerals’s previous semiannual dividend of $0.01. HudBay Minerals’s dividend payout ratio (DPR) is presently -1.63%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. A.R.T. Advisors LLC boosted its position in HudBay Minerals by 285.8% in the second quarter. A.R.T. Advisors LLC now owns 47,653 shares of the mining company’s stock worth $227,000 after buying an additional 35,300 shares during the last quarter. BlackRock Fund Advisors raised its stake in HudBay Minerals by 1.1% in the first quarter. BlackRock Fund Advisors now owns 49,772 shares of the mining company’s stock worth $183,000 after buying an additional 535 shares during the last quarter. PineBridge Investments L.P. raised its stake in HudBay Minerals by 16.2% in the second quarter. PineBridge Investments L.P. now owns 65,773 shares of the mining company’s stock worth $406,000 after buying an additional 9,160 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in HudBay Minerals during the second quarter worth approximately $382,000. Finally, Flow Traders U.S. LLC acquired a new stake in HudBay Minerals during the second quarter worth approximately $389,000. Institutional investors own 66.87% of the company’s stock.
About HudBay Minerals
HudBay Minerals Inc is a Canada-based mining company. The Company is engaged in the production of copper concentrate, consisting of copper, gold and silver, as well as zinc metal. The Company is focused on the discovery, production and marketing of base and precious metals. The Company has assets in North and South America.
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