Analysts Set HudBay Minerals Inc (NYSE:HBM) Price Target at $26.00

Shares of HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) have been assigned an average rating of “Buy” from the sixteen brokerages that are covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $26.00.

Several research analysts recently issued reports on the company. Jefferies Financial Group reaffirmed a “buy” rating on shares of HudBay Minerals in a research report on Sunday, December 7th. Royal Bank Of Canada reissued an “outperform” rating on shares of HudBay Minerals in a research report on Monday, November 17th. National Bank Financial downgraded shares of HudBay Minerals from an “outperform” rating to a “sector perform” rating in a report on Wednesday, January 28th. Citigroup upped their target price on shares of HudBay Minerals from $23.00 to $32.50 and gave the stock a “buy” rating in a research note on Wednesday, February 11th. Finally, UBS Group assumed coverage on shares of HudBay Minerals in a report on Thursday, January 8th. They issued a “buy” rating for the company.

HudBay Minerals Trading Down 0.3%

NYSE:HBM opened at $27.71 on Monday. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.95 and a quick ratio of 0.76. HudBay Minerals has a one year low of $5.95 and a one year high of $28.74. The company has a market cap of $11.00 billion, a PE ratio of 19.38, a PEG ratio of 0.70 and a beta of 1.33. The firm has a 50-day moving average of $23.35 and a 200-day moving average of $17.86.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last announced its quarterly earnings results on Friday, February 20th. The mining company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.18). The business had revenue of $732.90 million during the quarter, compared to the consensus estimate of $730.13 million. HudBay Minerals had a net margin of 25.71% and a return on equity of 8.91%. HudBay Minerals’s revenue was up 25.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.18 EPS. As a group, equities research analysts expect that HudBay Minerals will post 0.79 EPS for the current fiscal year.

HudBay Minerals Dividend Announcement

The company also recently disclosed a dividend, which will be paid on Friday, March 27th. Shareholders of record on Tuesday, March 10th will be paid a $0.01 dividend. The ex-dividend date is Tuesday, March 10th. This represents a yield of 8.0%. HudBay Minerals’s dividend payout ratio (DPR) is 0.70%.

Hedge Funds Weigh In On HudBay Minerals

Several institutional investors have recently modified their holdings of HBM. GMT Capital Corp purchased a new stake in shares of HudBay Minerals during the second quarter valued at approximately $337,809,000. FIL Ltd grew its stake in HudBay Minerals by 202.0% in the 4th quarter. FIL Ltd now owns 33,143,172 shares of the mining company’s stock valued at $658,010,000 after purchasing an additional 22,169,339 shares during the period. Hancock Prospecting Pty Ltd bought a new position in HudBay Minerals in the 2nd quarter valued at $154,359,000. Arrowstreet Capital Limited Partnership purchased a new stake in shares of HudBay Minerals during the 3rd quarter valued at $123,736,000. Finally, Picton Mahoney Asset Management bought a new stake in shares of HudBay Minerals during the 2nd quarter worth $61,432,000. 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.