Hudbay Minerals Inc. (NYSE:HBM) Receives $9.75 Average Target Price from Brokerages

Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) has received a consensus recommendation of “Buy” from the eight brokerages that are covering the company, MarketBeat reports. Eight research analysts have rated the stock with a buy recommendation. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $9.75.

A number of equities research analysts have weighed in on the company. Stifel Nicolaus started coverage on Hudbay Minerals in a report on Tuesday, March 26th. They set a “buy” rating on the stock. Raymond James upped their price target on Hudbay Minerals from $9.00 to $10.50 and gave the company an “outperform” rating in a research report on Wednesday, March 20th. StockNews.com raised Hudbay Minerals from a “hold” rating to a “buy” rating in a report on Friday, March 29th. Finally, Bank of America upgraded shares of Hudbay Minerals from a “neutral” rating to a “buy” rating and set a $9.00 target price on the stock in a research note on Tuesday, April 9th.

Institutional Investors Weigh In On Hudbay Minerals

Hedge funds have recently added to or reduced their stakes in the stock. Galibier Capital Management Ltd. bought a new position in shares of Hudbay Minerals in the first quarter worth about $12,604,000. Register Financial Advisors LLC bought a new stake in shares of Hudbay Minerals during the first quarter worth $35,000. Counterpoint Mutual Funds LLC acquired a new position in shares of Hudbay Minerals during the first quarter valued at $130,000. Ballentine Partners LLC acquired a new position in Hudbay Minerals during the 1st quarter valued at about $85,000. Finally, Banque Cantonale Vaudoise boosted its stake in shares of Hudbay Minerals by 38.7% in the 1st quarter. Banque Cantonale Vaudoise now owns 6,471 shares of the mining company’s stock valued at $45,000 after purchasing an additional 1,806 shares during the last quarter. Institutional investors own 57.82% of the company’s stock.

Hudbay Minerals Price Performance

Shares of HBM stock opened at $7.88 on Friday. Hudbay Minerals has a 12 month low of $3.94 and a 12 month high of $8.11. The company has a market capitalization of $2.77 billion, a P/E ratio of 39.40, a P/E/G ratio of 0.75 and a beta of 1.95. The stock has a 50 day moving average of $6.53 and a two-hundred day moving average of $5.48. The company has a current ratio of 1.25, a quick ratio of 0.87 and a debt-to-equity ratio of 0.61.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last released its quarterly earnings data on Friday, February 23rd. The mining company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.06. The company had revenue of $602.20 million during the quarter, compared to the consensus estimate of $552.74 million. Hudbay Minerals had a net margin of 3.95% and a return on equity of 3.86%. The firm’s revenue for the quarter was up 87.5% compared to the same quarter last year. During the same period last year, the firm earned $0.01 EPS. As a group, equities analysts expect that Hudbay Minerals will post 0.44 EPS for the current year.

Hudbay Minerals Cuts Dividend

The firm also recently declared a semi-annual dividend, which was paid on Friday, March 22nd. Investors of record on Tuesday, March 5th were issued a $0.0074 dividend. The ex-dividend date was Monday, March 4th. This represents a dividend yield of 0.3%. Hudbay Minerals’s dividend payout ratio is 5.00%.

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.