HudBay Minerals Inc (NYSE:HBM) Stock Has Average Price Target of $31.33 According to Brokerages

Key Points

• Analysts maintain a “Moderate Buy” consensus on HudBay Minerals, with 10 buy ratings and two hold ratings; the average 12-month price target is $31.33 versus a recent price of $27.33.
• Institutional investors have increased exposure, with several major firms initiating positions during the second quarter; institutions now own 57.82% of the company’s stock.
• HudBay reported quarterly EPS of $0.28, beating estimates of $0.26, while revenue rose 17.7% year over year to $631.3 million. The company also pays a small quarterly dividend of C$0.01 per share.

HudBay Minerals Inc (NYSE:HBM - Get Free Report) TSE: HBM has earned an average recommendation of "Moderate Buy" from the twelve research firms that are covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $31.33.

Several research firms have commented on HBM. Wall Street Zen downgraded shares of HudBay Minerals from a "buy" rating to a "hold" rating in a research report on Saturday, August 1st. Weiss Ratings cut HudBay Minerals from a "buy (b)" rating to a "buy (b-)" rating in a research report on Thursday, August 13th. Barclays upped their price target on HudBay Minerals from $30.00 to $32.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 15th. Jefferies Financial Group reissued a "buy" rating on shares of HudBay Minerals in a report on Monday, July 6th. Finally, Citigroup reissued a "positive" rating on shares of HudBay Minerals in a research note on Wednesday, July 15th.

Hedge Funds Weigh In On HudBay Minerals

Institutional investors have recently modified their holdings of the company. Wellington Management Group LLP acquired a new position in shares of HudBay Minerals during the second quarter worth approximately $130,557,000. William Blair Investment Management LLC acquired a new stake in shares of HudBay Minerals in the second quarter worth $99,536,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in HudBay Minerals during the second quarter worth $99,022,000. Bank of America Corp DE bought a new position in HudBay Minerals during the second quarter worth $96,341,000. Finally, The Manufacturers Life Insurance Company bought a new position in HudBay Minerals during the second quarter worth $91,577,000. Institutional investors own 57.82% of the company's stock.

HudBay Minerals Price Performance

NYSE HBM opened at $27.33 on Tuesday. The company has a quick ratio of 1.93, a current ratio of 2.24 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $12.14 billion, a PE ratio of 16.07, a price-to-earnings-growth ratio of 0.46 and a beta of 1.58. The company has a 50 day moving average price of $26.90 and a two-hundred day moving average price of $25.01. HudBay Minerals has a 12-month low of $14.34 and a 12-month high of $32.15.

HudBay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last announced its quarterly earnings results on Wednesday, July 29th. The mining company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.26 by $0.02. The company had revenue of $631.30 million for the quarter, compared to analyst estimates of $632.43 million. HudBay Minerals had a net margin of 27.48% and a return on equity of 9.47%. HudBay Minerals's quarterly revenue was up 17.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.19 EPS. As a group, equities analysts predict that HudBay Minerals will post 1.42 earnings per share for the current fiscal year.

HudBay Minerals Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 25th. Shareholders of record on Tuesday, September 8th were issued a dividend of C$0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.1%. The ex-dividend date was Tuesday, September 8th. HudBay Minerals's dividend payout ratio (DPR) is 1.76%.

About HudBay Minerals

Hudbay Minerals Inc is a Canadian mining company focused primarily on the exploration, development, and operation of copper, zinc, gold, silver, and molybdenum deposits. The company's products are used in infrastructure, manufacturing, technology, and energy-related applications. Hudbay is listed on the New York Stock Exchange and the Toronto Stock Exchange under the symbol HBM.

Hudbay operates mining and processing assets in Canada and Peru. Its Manitoba operations include the Lalor polymetallic mine and processing facilities in the Snow Lake region, which produce zinc, copper, gold, and silver.

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