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

Shares of HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) have earned an average rating of “Moderate Buy” from the thirteen analysts that are covering the company, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation, ten have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $26.00.

A number of research firms have weighed in on HBM. Citigroup boosted their target price on shares of HudBay Minerals from $23.00 to $32.50 and gave the company a “buy” rating in a research note on Wednesday, February 11th. Raymond James Financial reiterated an “outperform” rating on shares of HudBay Minerals in a research note on Wednesday, January 14th. Scotiabank reissued an “outperform” rating on shares of HudBay Minerals in a research report on Monday, January 26th. Zacks Research lowered shares of HudBay Minerals from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 17th. Finally, Wall Street Zen lowered shares of HudBay Minerals from a “buy” rating to a “hold” rating in a research report on Sunday, April 12th.

HudBay Minerals Stock Up 3.9%

HBM opened at $25.88 on Tuesday. The company has a quick ratio of 0.78, a current ratio of 0.95 and a debt-to-equity ratio of 0.18. The stock has a market cap of $10.28 billion, a price-to-earnings ratio of 18.10, a PEG ratio of 0.33 and a beta of 1.41. HudBay Minerals has a twelve month low of $6.75 and a twelve month high of $28.74. The company’s 50-day moving average price is $23.32 and its two-hundred day moving average price is $20.41.

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

HudBay Minerals Dividend Announcement

The firm also recently declared a dividend, which was paid on Friday, March 27th. Stockholders of record on Tuesday, March 10th were given a $0.01 dividend. The ex-dividend date of this dividend was Tuesday, March 10th. This represents a dividend yield of 9.0%. HudBay Minerals’s payout ratio is 0.70%.

Institutional Trading of HudBay Minerals

Hedge funds and other institutional investors have recently modified their holdings of the business. Triasima Portfolio Management inc. bought a new stake in shares of HudBay Minerals in the third quarter valued at approximately $8,057,000. Picton Mahoney Asset Management raised its position in shares of HudBay Minerals by 9.3% in the third quarter. Picton Mahoney Asset Management now owns 6,350,482 shares of the mining company’s stock valued at $96,171,000 after purchasing an additional 537,964 shares during the period. Campbell & CO Investment Adviser LLC bought a new stake in HudBay Minerals during the 3rd quarter worth approximately $1,454,000. Bank of Nova Scotia increased its holdings in HudBay Minerals by 662.0% during the 3rd quarter. Bank of Nova Scotia now owns 4,273,384 shares of the mining company’s stock worth $64,783,000 after acquiring an additional 3,712,572 shares during the period. Finally, Precision Wealth Strategies LLC bought a new stake in HudBay Minerals during the 3rd quarter worth approximately $855,000. Institutional investors own 57.82% of the company’s stock.

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.