HudBay Minerals Inc (NYSE:HBM) Given Consensus Rating of "Buy" by Brokerages

Key Points

• HudBay Minerals Inc (NYSE:HBM) has received an average consensus rating of "Buy" from eight brokerages, with six firms recommending a buy and two designating a strong buy.
• The company recently announced a semi-annual dividend increase, with shareholders set to receive a $0.0073 dividend, marking a yield of 10.0%.
• HudBay reported an earnings per share (EPS) of $0.19 for the last quarter, significantly exceeding the consensus estimate of $0.11, despite revenue of $536.40 million falling short of expectations.

HudBay Minerals Inc (NYSE:HBM - Get Free Report) TSE: HBM has been assigned a consensus rating of "Buy" from the eight ratings firms that are currently covering the company, MarketBeat.com reports. Six research analysts have rated the stock with a buy recommendation and two have issued a strong buy recommendation on the company.

Several brokerages have recently commented on HBM. Wall Street Zen downgraded shares of HudBay Minerals from a "strong-buy" rating to a "buy" rating in a research note on Tuesday. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of HudBay Minerals in a research note on Thursday, August 14th. National Bankshares reaffirmed an "outperform" rating on shares of HudBay Minerals in a research note on Thursday, August 14th. Scotiabank reaffirmed an "outperform" rating on shares of HudBay Minerals in a research note on Tuesday, May 13th. Finally, CIBC reaffirmed an "outperform" rating on shares of HudBay Minerals in a research note on Tuesday, July 15th.

Hedge Funds Weigh In On HudBay Minerals

Several hedge funds and other institutional investors have recently modified their holdings of the company. Sumitomo Mitsui Trust Group Inc. raised its stake in HudBay Minerals by 142.8% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 100,303 shares of the mining company's stock worth $761,000 after buying an additional 58,999 shares in the last quarter. Barclays PLC increased its stake in shares of HudBay Minerals by 7.9% during the fourth quarter. Barclays PLC now owns 93,286 shares of the mining company's stock valued at $756,000 after purchasing an additional 6,811 shares in the last quarter. Cetera Investment Advisers grew its holdings in shares of HudBay Minerals by 24.3% during the fourth quarter. Cetera Investment Advisers now owns 19,224 shares of the mining company's stock valued at $156,000 after buying an additional 3,760 shares during the last quarter. Hsbc Holdings PLC purchased a new stake in shares of HudBay Minerals during the fourth quarter valued at approximately $97,000. Finally, Bank of America Corp DE boosted its holdings in HudBay Minerals by 269.3% in the fourth quarter. Bank of America Corp DE now owns 2,409,267 shares of the mining company's stock worth $19,515,000 after purchasing an additional 1,756,930 shares during the last quarter. 57.82% of the stock is owned by institutional investors.

HudBay Minerals Trading Up 3.3%

NYSE HBM traded up $0.40 during trading on Monday, hitting $12.46. 8,125,449 shares of the company's stock traded hands, compared to its average volume of 6,721,174. The stock has a fifty day moving average of $10.54 and a two-hundred day moving average of $8.88. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.03 and a quick ratio of 0.86. HudBay Minerals has a 12-month low of $5.95 and a 12-month high of $12.47. The firm has a market cap of $4.93 billion, a P/E ratio of 17.06, a PEG ratio of 0.29 and a beta of 1.51.

HudBay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last posted its quarterly earnings results on Wednesday, August 13th. The mining company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.08. HudBay Minerals had a net margin of 13.13% and a return on equity of 10.73%. The business had revenue of $536.40 million during the quarter, compared to analyst estimates of $558.21 million. HudBay Minerals's revenue was up 26.1% on a year-over-year basis. As a group, sell-side analysts expect that HudBay Minerals will post 0.79 EPS for the current year.

HudBay Minerals Increases Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Friday, September 19th. Stockholders of record on Tuesday, September 2nd will be paid a dividend of $0.0073 per share. This represents a dividend yield of 17.0%. This is a positive change from HudBay Minerals's previous semi-annual dividend of $0.01. The ex-dividend date of this dividend is Tuesday, September 2nd. HudBay Minerals's payout ratio is currently 1.37%.

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.