Credit Suisse Group Lowers Hudbay Minerals (NYSE:HBM) Price Target to C$7.00

Hudbay Minerals (NYSE:HBMGet Rating) (TSE:HBM) had its target price trimmed by Credit Suisse Group from C$7.50 to C$7.00 in a report published on Thursday morning, The Fly reports.

Other research analysts also recently issued reports about the company. TheStreet downgraded Hudbay Minerals from a c- rating to a d rating in a research note on Friday, August 19th. Barclays raised Hudbay Minerals from an equal weight rating to an overweight rating in a research note on Tuesday, July 19th. Raymond James increased their price target on Hudbay Minerals from C$8.00 to C$9.00 in a research report on Wednesday, August 24th. CIBC decreased their price target on Hudbay Minerals from C$14.00 to C$11.50 in a research report on Wednesday, May 18th. Finally, Scotiabank reduced their price objective on Hudbay Minerals from C$10.00 to C$7.50 in a report on Thursday, July 7th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Hudbay Minerals presently has an average rating of Moderate Buy and an average target price of $10.28.

Hudbay Minerals Stock Up 4.8 %

Shares of Hudbay Minerals stock opened at $4.55 on Thursday. The stock’s 50-day moving average is $3.97 and its 200 day moving average is $5.63. Hudbay Minerals has a one year low of $3.08 and a one year high of $8.75. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.41 and a quick ratio of 0.97. The firm has a market cap of $1.19 billion, a price-to-earnings ratio of -13.79, a PEG ratio of 0.72 and a beta of 1.92.

Hudbay Minerals Dividend Announcement

The company also recently declared a Semi-Annual dividend, which will be paid on Friday, September 23rd. Shareholders of record on Friday, September 2nd will be given a dividend of $0.008 per share. The ex-dividend date is Thursday, September 1st. This represents a yield of 0.3%. Hudbay Minerals’s payout ratio is -6.06%.

Institutional Investors Weigh In On Hudbay Minerals

A number of large investors have recently added to or reduced their stakes in HBM. Bank of America Corp DE raised its position in Hudbay Minerals by 33.5% during the fourth quarter. Bank of America Corp DE now owns 893,755 shares of the mining company’s stock valued at $6,480,000 after purchasing an additional 224,078 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Hudbay Minerals by 5.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 514,274 shares of the mining company’s stock valued at $3,728,000 after purchasing an additional 25,483 shares in the last quarter. BNP Paribas Arbitrage SA purchased a new stake in Hudbay Minerals during the fourth quarter valued at about $469,000. Cumberland Partners Ltd raised its position in Hudbay Minerals by 174.3% during the fourth quarter. Cumberland Partners Ltd now owns 599,400 shares of the mining company’s stock valued at $4,347,000 after purchasing an additional 380,900 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in Hudbay Minerals by 33.1% during the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,278,043 shares of the mining company’s stock valued at $9,262,000 after purchasing an additional 317,544 shares in the last quarter. Hedge funds and other institutional investors own 66.69% of the company’s stock.

About Hudbay Minerals

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Hudbay Minerals Inc, a diversified mining company, together with its subsidiaries, focuses on the discovery, production, and marketing of base and precious metals in North and South America. It produces copper concentrates containing copper, gold, and silver; silver/gold doré; molybdenum concentrates; and zinc metals.

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