Jefferies Financial Group Begins Coverage on Hudbay Minerals (NYSE:HBM)

Jefferies Financial Group assumed coverage on shares of Hudbay Minerals (NYSE:HBM) (TSE:HBM) in a report issued on Friday, MarketBeat.com reports. The firm issued a hold rating and a $13.00 price objective on the mining company’s stock.

A number of other brokerages have also weighed in on HBM. Stifel Nicolaus started coverage on shares of Hudbay Minerals in a research note on Tuesday, March 26th. They issued a buy rating for the company. Raymond James upped their price objective on Hudbay Minerals from $9.00 to $10.50 and gave the stock an outperform rating in a research report on Wednesday, March 20th. StockNews.com raised Hudbay Minerals from a hold rating to a buy rating in a research report on Friday, March 29th. Finally, Bank of America raised Hudbay Minerals from a neutral rating to a buy rating and set a $9.00 price objective for the company in a research report on Tuesday, April 9th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, Hudbay Minerals currently has an average rating of Moderate Buy and an average price target of $10.21.

Hudbay Minerals Trading Up 0.6 %

NYSE:HBM opened at $8.37 on Friday. The company has a current ratio of 1.25, a quick ratio of 0.87 and a debt-to-equity ratio of 0.61. Hudbay Minerals has a 1-year low of $3.94 and a 1-year high of $8.85. The firm has a market capitalization of $2.94 billion, a price-to-earnings ratio of 41.85, a PEG ratio of 0.91 and a beta of 1.88. The business’s 50-day moving average price is $7.15 and its two-hundred day moving average price is $5.76.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last issued its quarterly earnings data on Friday, February 23rd. The mining company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.14 by $0.06. Hudbay Minerals had a return on equity of 3.86% and a net margin of 3.95%. The business had revenue of $602.20 million for the quarter, compared to the consensus estimate of $552.74 million. During the same quarter last year, the business posted $0.01 EPS. The firm’s revenue was up 87.5% compared to the same quarter last year. On average, equities analysts expect that Hudbay Minerals will post 0.4 earnings per share for the current year.

Hudbay Minerals Cuts Dividend

The business also recently declared a semi-annual dividend, which was paid on Friday, March 22nd. Investors of record on Tuesday, March 5th were given a dividend of $0.0074 per share. The ex-dividend date was Monday, March 4th. This represents a yield of 0.3%. Hudbay Minerals’s dividend payout ratio (DPR) is presently 5.00%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of HBM. Donald Smith & CO. Inc. boosted its position in Hudbay Minerals by 475.3% during the fourth quarter. Donald Smith & CO. Inc. now owns 4,602,687 shares of the mining company’s stock valued at $25,407,000 after purchasing an additional 3,802,687 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd acquired a new position in Hudbay Minerals during the fourth quarter valued at approximately $14,618,000. Invesco Ltd. boosted its position in Hudbay Minerals by 60.2% during the third quarter. Invesco Ltd. now owns 6,998,581 shares of the mining company’s stock valued at $34,083,000 after purchasing an additional 2,630,780 shares during the last quarter. L1 Capital Pty Ltd raised its stake in Hudbay Minerals by 15.1% in the third quarter. L1 Capital Pty Ltd now owns 16,299,356 shares of the mining company’s stock valued at $79,378,000 after buying an additional 2,141,437 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in Hudbay Minerals by 28.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,375,985 shares of the mining company’s stock valued at $51,836,000 after buying an additional 2,085,641 shares during the period. 57.82% of the stock is owned by institutional investors and hedge funds.

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.