Hudbay Minerals Inc. (NYSE:HBM) Given Consensus Recommendation of “Buy” by Analysts

Shares of Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) have been assigned an average recommendation of “Buy” from the six brokerages that are currently covering the firm, MarketBeat Ratings reports. Four analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $11.17.

Separately, StockNews.com raised shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a research report on Friday, February 7th.

Hudbay Minerals Stock Performance

Shares of HBM stock opened at $6.91 on Wednesday. Hudbay Minerals has a one year low of $5.95 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. The company has a 50 day moving average price of $8.35 and a 200 day moving average price of $8.53. The firm has a market capitalization of $2.73 billion, a price-to-earnings ratio of 38.36 and a beta of 1.74.

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

Hudbay Minerals Increases Dividend

The company also recently announced a semi-annual dividend, which will be paid on Friday, March 21st. Stockholders of record on Tuesday, March 4th will be paid a $0.007 dividend. The ex-dividend date of this dividend is Tuesday, March 4th. This is an increase from Hudbay Minerals’s previous semi-annual dividend of $0.01. This represents a dividend yield of 0.2%. Hudbay Minerals’s dividend payout ratio is 5.56%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Tower Research Capital LLC TRC boosted its stake in shares of Hudbay Minerals by 9,877.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,093 shares of the mining company’s stock valued at $25,000 after purchasing an additional 3,062 shares during the period. Prospera Private Wealth LLC purchased a new position in shares of Hudbay Minerals in the third quarter valued at $28,000. Algert Global LLC purchased a new position in shares of Hudbay Minerals in the fourth quarter valued at $86,000. Plato Investment Management Ltd purchased a new position in shares of Hudbay Minerals in the fourth quarter valued at $95,000. Finally, Hsbc Holdings PLC purchased a new position in shares of Hudbay Minerals in the fourth quarter valued at $97,000. 57.82% of the stock is currently owned by hedge funds and other institutional investors.

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.