Hudbay Minerals (NYSE:HBM) Upgraded to Buy by StockNews.com

StockNews.com upgraded shares of Hudbay Minerals (NYSE:HBMFree Report) (TSE:HBM) from a hold rating to a buy rating in a research note released on Tuesday morning.

Several other equities analysts also recently commented on the company. National Bank Financial raised Hudbay Minerals from a hold rating to a strong-buy rating in a research report on Tuesday, May 14th. Jefferies Financial Group started coverage on Hudbay Minerals in a research note on Friday, May 3rd. They issued a hold rating and a $13.00 price target for the company. Stifel Nicolaus started coverage on Hudbay Minerals in a research note on Tuesday, March 26th. They issued a buy rating for the company. Raymond James boosted their price target on Hudbay Minerals from $9.00 to $10.50 and gave the company an outperform rating in a research note on Wednesday, March 20th. Finally, Bank of America upgraded Hudbay Minerals from a neutral rating to a buy rating and set a $9.00 price target for the company in a research note on Tuesday, April 9th. One equities research analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of Buy and a consensus price target of $10.21.

Get Our Latest Analysis on HBM

Hudbay Minerals Price Performance

Shares of NYSE HBM opened at $10.36 on Tuesday. Hudbay Minerals has a twelve month low of $3.94 and a twelve month high of $10.49. The business’s 50 day moving average price is $7.94 and its two-hundred day moving average price is $6.19. The company has a quick ratio of 1.00, a current ratio of 1.40 and a debt-to-equity ratio of 0.61. The company has a market cap of $3.64 billion, a PE ratio of 45.04, a price-to-earnings-growth ratio of 1.04 and a beta of 1.88.

Hudbay Minerals (NYSE:HBMGet Free Report) (TSE:HBM) last posted its earnings results on Tuesday, May 14th. The mining company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.03 by $0.13. Hudbay Minerals had a return on equity of 6.22% and a net margin of 4.36%. The company had revenue of $524.99 million for the quarter, compared to the consensus estimate of $463.69 million. On average, analysts predict that Hudbay Minerals will post 0.42 EPS for the current year.

Hudbay Minerals Cuts Dividend

The company also recently declared a semi-annual dividend, which was paid on Friday, March 22nd. Stockholders of record on Tuesday, March 5th were paid a $0.0074 dividend. This represents a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, March 4th. Hudbay Minerals’s payout ratio is 4.35%.

Institutional Trading of Hudbay Minerals

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Register Financial Advisors LLC acquired a new stake in Hudbay Minerals during the 1st quarter worth about $35,000. Banque Cantonale Vaudoise lifted its position in Hudbay Minerals by 38.7% in the 1st quarter. Banque Cantonale Vaudoise now owns 6,471 shares of the mining company’s stock valued at $45,000 after acquiring an additional 1,806 shares in the last quarter. Ballentine Partners LLC bought a new position in Hudbay Minerals in the 1st quarter valued at about $85,000. Bank of Nova Scotia lifted its position in Hudbay Minerals by 19.1% in the 3rd quarter. Bank of Nova Scotia now owns 24,843 shares of the mining company’s stock valued at $121,000 after acquiring an additional 3,979 shares in the last quarter. Finally, Shell Asset Management Co. lifted its position in Hudbay Minerals by 38.6% in the 3rd quarter. Shell Asset Management Co. now owns 26,189 shares of the mining company’s stock valued at $128,000 after acquiring an additional 7,300 shares in the last quarter. 57.82% of the stock is currently owned by institutional investors and hedge funds.

About Hudbay Minerals

(Get Free Report)

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.

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Analyst Recommendations for Hudbay Minerals (NYSE:HBM)

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