BMO Capital Markets Raises HudBay Minerals Inc (HBM) Price Target to $10.75
HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) had its target price upped by BMO Capital Markets from $10.50 to $10.75 in a report published on Monday. They currently have a market perform rating on the mining company’s stock.
Several other analysts also recently issued reports on HBM. ValuEngine downgraded shares of HudBay Minerals from a buy rating to a hold rating in a report on Tuesday, June 6th. BidaskClub upgraded shares of HudBay Minerals from a strong sell rating to a sell rating in a research note on Tuesday, June 13th. Zacks Investment Research cut shares of HudBay Minerals from a hold rating to a sell rating in a research note on Tuesday, July 4th. Raymond James Financial, Inc. reiterated an outperform rating on shares of HudBay Minerals in a research note on Tuesday, August 15th. Finally, TheStreet upgraded shares of HudBay Minerals from a d+ rating to a c- rating in a research note on Monday, August 14th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the stock. HudBay Minerals currently has an average rating of Hold and an average target price of $8.91.
HudBay Minerals (NYSE:HBM) traded down 0.316% during midday trading on Monday, reaching $7.875. 111,505 shares of the company traded hands. The stock has a market capitalization of $1.87 billion, a price-to-earnings ratio of 196.875 and a beta of 3.21. HudBay Minerals has a 12 month low of $3.67 and a 12 month high of $9.35. The firm has a 50 day moving average of $8.03 and a 200-day moving average of $6.64.
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The firm also recently disclosed a Semi-Annual dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 8th were paid a $0.008 dividend. This represents a dividend yield of 0.22%. The ex-dividend date was Thursday, September 7th. HudBay Minerals’s dividend payout ratio is 50.01%.
Several hedge funds have recently made changes to their positions in HBM. Trexquant Investment LP raised its stake in shares of HudBay Minerals by 78.7% in the 2nd quarter. Trexquant Investment LP now owns 18,768 shares of the mining company’s stock valued at $108,000 after buying an additional 8,268 shares in the last quarter. Quantbot Technologies LP acquired a new position in shares of HudBay Minerals in the 1st quarter valued at $118,000. Brave Asset Management Inc. acquired a new position in shares of HudBay Minerals in the 2nd quarter valued at $121,000. Massachusetts Financial Services Co. MA acquired a new position in shares of HudBay Minerals in the 1st quarter valued at $127,000. Finally, Oxford Asset Management acquired a new position in shares of HudBay Minerals in the 1st quarter valued at $159,000. Institutional investors own 64.86% 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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