Hudbay Minerals Inc. (NYSE:HBM) Receives $11.17 Consensus Price Target from Brokerages

Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) has received a consensus rating of “Buy” from the six analysts that are currently covering the company, Marketbeat Ratings reports. Four research analysts have rated the stock with a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $11.17.

Separately, StockNews.com upgraded Hudbay Minerals from a “hold” rating to a “buy” rating in a research note on Friday, February 7th.

Hudbay Minerals Price Performance

HBM stock opened at $6.97 on Wednesday. The stock’s 50 day moving average is $8.31 and its two-hundred day moving average is $8.52. Hudbay Minerals has a 52-week low of $6.20 and a 52-week high of $10.49. The company has a market capitalization of $2.75 billion, a PE ratio of 38.70 and a beta of 1.72. The company has a quick ratio of 1.47, a current ratio of 1.86 and a debt-to-equity ratio of 0.44.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last posted its quarterly earnings results 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 net margin of 3.80% and a return on equity of 7.29%. The company had revenue of $584.90 million during the quarter, compared to analyst estimates of $588.28 million. During the same period in the prior year, the company earned $0.20 earnings per share. The company’s revenue was down 2.9% on a year-over-year basis. Analysts predict that Hudbay Minerals will post 0.79 earnings per share for the current fiscal year.

Hudbay Minerals Increases Dividend

The business also recently announced a semi-annual dividend, which will be paid on Friday, March 21st. Stockholders of record on Tuesday, March 4th will be issued a dividend of $0.007 per share. The ex-dividend date of this dividend is Tuesday, March 4th. This is a positive change 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 Investors Weigh In On Hudbay Minerals

A number of hedge funds have recently added to or reduced their stakes in the stock. Cinctive Capital Management LP raised its stake in Hudbay Minerals by 39.7% during the 3rd quarter. Cinctive Capital Management LP now owns 410,669 shares of the mining company’s stock valued at $3,777,000 after acquiring an additional 116,732 shares in the last quarter. Bank of Montreal Can boosted its holdings in shares of Hudbay Minerals by 23.1% in the third quarter. Bank of Montreal Can now owns 7,691,519 shares of the mining company’s stock worth $71,308,000 after buying an additional 1,441,991 shares during the period. Toronto Dominion Bank grew its position in Hudbay Minerals by 300.9% during the 3rd quarter. Toronto Dominion Bank now owns 226,841 shares of the mining company’s stock worth $2,085,000 after purchasing an additional 170,257 shares in the last quarter. Mountaineer Partners Management LLC raised its position in Hudbay Minerals by 792.5% during the third quarter. Mountaineer Partners Management LLC now owns 10,323,605 shares of the mining company’s stock valued at $94,874,000 after buying an additional 9,166,952 shares during the period. Finally, Jennison Associates LLC increased its holdings in shares of Hudbay Minerals by 12.2% in the 3rd quarter. Jennison Associates LLC now owns 3,298,814 shares of the mining company’s stock valued at $30,340,000 after purchasing an additional 359,126 shares during the period. 57.82% of the stock is currently owned by institutional investors.

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.