Hudbay Minerals Inc. (NYSE:HBM) Given Average Rating of “Buy” by Brokerages

Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) has been given a consensus recommendation of “Buy” by the six ratings firms that are currently covering the company, MarketBeat.com reports. Four equities research analysts have rated the stock with a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $11.17.

A number of analysts have recently weighed in on HBM shares. Jefferies Financial Group upgraded Hudbay Minerals from a “hold” rating to a “buy” rating in a research report on Wednesday, August 14th. StockNews.com cut Hudbay Minerals from a “buy” rating to a “hold” rating in a research report on Tuesday, August 13th. Finally, Stifel Canada upgraded Hudbay Minerals to a “strong-buy” rating in a research report on Monday, July 22nd.

Institutional Trading of Hudbay Minerals

Large investors have recently added to or reduced their stakes in the business. CIBC Asset Management Inc boosted its stake in shares of Hudbay Minerals by 2.1% during the 4th quarter. CIBC Asset Management Inc now owns 351,911 shares of the mining company’s stock worth $1,942,000 after acquiring an additional 7,161 shares in the last quarter. Goehring & Rozencwajg Associates LLC raised its holdings in shares of Hudbay Minerals by 3.3% during the fourth quarter. Goehring & Rozencwajg Associates LLC now owns 611,969 shares of the mining company’s stock worth $3,373,000 after acquiring an additional 19,805 shares in the last quarter. Orchard Capital Management LLC purchased a new stake in shares of Hudbay Minerals during the fourth quarter worth $3,713,000. Banque Cantonale Vaudoise raised its holdings in shares of Hudbay Minerals by 38.7% during the first quarter. Banque Cantonale Vaudoise now owns 6,471 shares of the mining company’s stock worth $45,000 after acquiring an additional 1,806 shares in the last quarter. Finally, Ballentine Partners LLC purchased a new stake in shares of Hudbay Minerals during the first quarter worth $85,000. 57.82% of the stock is currently owned by institutional investors and hedge funds.

Hudbay Minerals Trading Up 2.1 %

NYSE:HBM opened at $9.40 on Friday. The company has a quick ratio of 1.49, a current ratio of 1.86 and a debt-to-equity ratio of 0.47. The business’s 50 day moving average is $7.88 and its two-hundred day moving average is $8.32. Hudbay Minerals has a 52 week low of $3.94 and a 52 week high of $10.49. The company has a market cap of $3.70 billion, a PE ratio of 40.87 and a beta of 1.77.

Hudbay Minerals Cuts Dividend

The firm also recently announced a Semi-Annual dividend, which was paid on Friday, September 20th. Investors of record on Tuesday, September 3rd were given a $0.007 dividend. This represents a yield of 0.2%. The ex-dividend date of this dividend was Tuesday, September 3rd. Hudbay Minerals’s dividend payout ratio is currently 4.35%.

About Hudbay Minerals

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.