Hudbay Minerals (NYSE:HBM) Now Covered by Desjardins

Desjardins began coverage on shares of Hudbay Minerals (NYSE:HBM) (TSE:HBM) in a research report sent to investors on Friday, MarketBeat Ratings reports. The brokerage issued a buy rating on the mining company’s stock.

A number of other equities analysts have also issued reports on HBM. StockNews.com raised Hudbay Minerals from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Stifel Canada raised Hudbay Minerals to a “strong-buy” rating in a report on Wednesday, March 19th. Four analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $11.50.

Hudbay Minerals Price Performance

Shares of HBM opened at $6.30 on Friday. The firm has a market capitalization of $2.49 billion, a price-to-earnings ratio of 34.97 and a beta of 1.72. The stock’s fifty day moving average is $7.94 and its 200-day moving average is $8.52. Hudbay Minerals has a one year low of $6.04 and a one year high of $10.49. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.47 and a current ratio of 1.86.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last released its quarterly earnings results on Wednesday, February 19th. The mining company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.02). The company had revenue of $584.90 million for the quarter, compared to the consensus estimate of $588.28 million. Hudbay Minerals had a return on equity of 7.29% and a net margin of 3.80%. The firm’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.20 earnings per share. Equities analysts anticipate that Hudbay Minerals will post 0.79 EPS for the current year.

Hudbay Minerals Increases Dividend

The business also recently announced a semi-annual dividend, which was paid on Friday, March 21st. Investors of record on Tuesday, March 4th were issued a $0.007 dividend. This represents a dividend yield of 0.2%. This is a boost from Hudbay Minerals’s previous semi-annual dividend of $0.01. The ex-dividend date of this dividend was Tuesday, March 4th. Hudbay Minerals’s payout ratio is presently 5.56%.

Hedge Funds Weigh In On Hudbay Minerals

A number of hedge funds and other institutional investors have recently modified their holdings of HBM. Tower Research Capital LLC TRC lifted its stake in Hudbay Minerals by 9,877.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,093 shares of the mining company’s stock valued at $25,000 after buying an additional 3,062 shares in the last quarter. Algert Global LLC acquired a new stake in shares of Hudbay Minerals during the fourth quarter valued at approximately $86,000. Plato Investment Management Ltd purchased a new stake in shares of Hudbay Minerals in the 4th quarter valued at approximately $95,000. Hsbc Holdings PLC acquired a new position in Hudbay Minerals in the 4th quarter worth approximately $97,000. Finally, Advisory Services Network LLC purchased a new position in Hudbay Minerals during the 4th quarter worth approximately $101,000. Institutional investors and hedge funds own 57.82% of the company’s stock.

Hudbay Minerals Company Profile

Hudbay Minerals Inc, a diversified mining company, focuses on the exploration, development, operation, and optimization of properties in North and South America. It produces copper concentrates containing gold, silver, and molybdenum; gold concentrates containing zinc; zinc concentrates; molybdenum concentrates; and silver/gold doré.