HudBay Minerals Inc (NYSE:HBM) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

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

HBM has been the subject of a number of recent research reports. Citigroup boosted their price objective on HudBay Minerals from $23.00 to $32.50 and gave the company a “buy” rating in a research note on Wednesday, February 11th. National Bank Financial downgraded shares of HudBay Minerals from an “outperform” rating to a “sector perform” rating in a report on Wednesday, January 28th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of HudBay Minerals in a research report on Thursday, January 15th. Jefferies Financial Group reissued a “buy” rating on shares of HudBay Minerals in a research note on Sunday, December 7th. Finally, Scotiabank restated an “outperform” rating on shares of HudBay Minerals in a research report on Monday, January 26th.

HudBay Minerals Price Performance

Shares of HBM opened at $18.93 on Friday. The firm has a 50 day moving average of $24.08 and a 200 day moving average of $19.37. The company has a quick ratio of 0.78, a current ratio of 0.95 and a debt-to-equity ratio of 0.18. HudBay Minerals has a twelve month low of $5.95 and a twelve month high of $28.74. The company has a market capitalization of $7.51 billion, a P/E ratio of 13.23, a price-to-earnings-growth ratio of 0.26 and a beta of 1.27.

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

HudBay Minerals Announces Dividend

The company also recently announced a dividend, which will be paid on Friday, March 27th. Stockholders of record on Tuesday, March 10th will be given a dividend of $0.01 per share. This represents a dividend yield of 9.0%. The ex-dividend date is Tuesday, March 10th. HudBay Minerals’s dividend payout ratio is currently 0.70%.

Institutional Investors Weigh In On HudBay Minerals

Several large investors have recently added to or reduced their stakes in HBM. Allworth Financial LP grew its position in HudBay Minerals by 107.9% in the 3rd quarter. Allworth Financial LP now owns 1,990 shares of the mining company’s stock valued at $30,000 after acquiring an additional 1,033 shares during the last quarter. Quarry LP bought a new stake in shares of HudBay Minerals during the third quarter worth $38,000. Global Retirement Partners LLC bought a new stake in shares of HudBay Minerals during the third quarter worth $45,000. IFP Advisors Inc purchased a new stake in shares of HudBay Minerals during the third quarter valued at $45,000. Finally, Banque Cantonale Vaudoise boosted its stake in shares of HudBay Minerals by 513.5% during the third quarter. Banque Cantonale Vaudoise now owns 3,172 shares of the mining company’s stock valued at $48,000 after purchasing an additional 2,655 shares during the period. 57.82% of the stock is owned by institutional investors.

HudBay Minerals Company Profile

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.