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 research report sent to investors on Saturday.

Other analysts have also issued reports about the stock. Jefferies Financial Group reiterated a “buy” rating on shares of HudBay Minerals in a research report on Sunday, December 7th. Raymond James Financial reiterated an “outperform” rating on shares of HudBay Minerals in a research report on Wednesday, January 14th. National Bank Financial lowered shares of HudBay Minerals from an “outperform” rating to a “sector perform” rating in a research report on Wednesday, January 28th. UBS Group assumed coverage on shares of HudBay Minerals in a report on Thursday, January 8th. They set a “buy” rating for the company. Finally, Zacks Research downgraded shares of HudBay Minerals from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 17th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, HudBay Minerals currently has an average rating of “Moderate Buy” and an average target price of $26.00.

HudBay Minerals Price Performance

Shares of HudBay Minerals stock opened at $21.76 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.78 and a current ratio of 0.95. The firm’s 50-day simple moving average is $23.50 and its 200-day simple moving average is $19.82. HudBay Minerals has a twelve month low of $5.95 and a twelve month high of $28.74. The firm has a market cap of $8.64 billion, a P/E ratio of 15.22, a price-to-earnings-growth ratio of 0.30 and a beta of 1.41.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last issued its 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). HudBay Minerals had a net margin of 25.71% and a return on equity of 8.91%. The business had revenue of $732.90 million for the quarter, compared to analyst estimates of $730.13 million. During the same quarter last year, the firm posted $0.18 earnings per share. HudBay Minerals’s revenue was up 25.3% on a year-over-year basis. As a group, research analysts expect that HudBay Minerals will post 0.79 EPS for the current fiscal year.

HudBay Minerals Announces Dividend

The company also recently declared a dividend, which was paid on Friday, March 27th. Investors of record on Tuesday, March 10th were issued a dividend of $0.01 per share. This represents a yield of 9.0%. The ex-dividend date of this dividend was Tuesday, March 10th. HudBay Minerals’s dividend payout ratio (DPR) is currently 0.70%.

Hedge Funds Weigh In On HudBay Minerals

Several institutional investors have recently added to or reduced their stakes in the company. FIL Ltd lifted its holdings in HudBay Minerals by 202.0% during 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 last quarter. GMT Capital Corp acquired a new position in shares of HudBay Minerals during the second quarter worth approximately $337,809,000. Vanguard Group Inc. lifted its position in shares of HudBay Minerals by 2.4% during the third quarter. Vanguard Group Inc. now owns 16,198,255 shares of the mining company’s stock worth $245,355,000 after purchasing an additional 373,399 shares in the last quarter. L1 Capital Pty Ltd lifted its position in shares of HudBay Minerals by 4.4% during the second quarter. L1 Capital Pty Ltd now owns 15,054,087 shares of the mining company’s stock worth $159,864,000 after purchasing an additional 630,703 shares in the last quarter. Finally, Hancock Prospecting Pty Ltd acquired a new position in shares of HudBay Minerals during the second quarter worth approximately $154,359,000. 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.