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

Key Points

• HudBay Minerals Inc (NYSE:HBM) has received an average rating of "Buy" from thirteen analysts, with ten recommending a buy and three a strong buy, indicating positive sentiment towards the stock.
• The company's stock recently opened at $16.43 and has a market capitalization of $6.51 billion, with a P/E ratio of 22.50.
• HudBay Minerals declared a semi-annual dividend of $0.0073 per share, which represents a yield of 17.0%, showing a positive change from its previous dividend payout.

Shares of HudBay Minerals Inc (NYSE:HBM - Get Free Report) TSE: HBM have earned an average rating of "Buy" from the thirteen analysts that are presently covering the company, MarketBeat Ratings reports. Ten research analysts have rated the stock with a buy recommendation and three have issued a strong buy recommendation on the company. The average 12-month price target among analysts that have covered the stock in the last year is $19.50.

HBM has been the subject of a number of research reports. Raymond James Financial reiterated an "outperform" rating on shares of HudBay Minerals in a report on Friday, October 10th. CIBC reiterated an "outperform" rating on shares of HudBay Minerals in a report on Tuesday, July 15th. Royal Bank Of Canada reiterated an "outperform" rating on shares of HudBay Minerals in a report on Thursday, August 14th. Weiss Ratings reiterated a "buy (b-)" rating on shares of HudBay Minerals in a report on Wednesday, October 8th. Finally, The Goldman Sachs Group started coverage on shares of HudBay Minerals in a report on Monday, September 8th. They issued a "buy" rating for the company.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. raised its holdings in HudBay Minerals by 64.6% during the 1st quarter. SBI Securities Co. Ltd. now owns 3,773 shares of the mining company's stock worth $29,000 after purchasing an additional 1,481 shares during the last quarter. Banque Cantonale Vaudoise bought a new position in HudBay Minerals during the 1st quarter worth approximately $33,000. Jones Financial Companies Lllp raised its holdings in HudBay Minerals by 131.6% during the 1st quarter. Jones Financial Companies Lllp now owns 6,570 shares of the mining company's stock worth $50,000 after purchasing an additional 3,733 shares during the last quarter. Plato Investment Management Ltd bought a new position in HudBay Minerals during the 2nd quarter worth approximately $84,000. Finally, Headlands Technologies LLC bought a new position in HudBay Minerals during the 1st quarter worth approximately $92,000. Institutional investors own 57.82% of the company's stock.

HudBay Minerals Stock Up 0.1%

HBM stock opened at $16.43 on Tuesday. The stock has a market capitalization of $6.51 billion, a P/E ratio of 22.50 and a beta of 1.55. The company has a current ratio of 1.03, a quick ratio of 0.86 and a debt-to-equity ratio of 0.20. HudBay Minerals has a 12 month low of $5.95 and a 12 month high of $17.73. The firm has a 50-day moving average price of $13.72 and a 200-day moving average price of $10.58.

HudBay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last posted its earnings results on Wednesday, August 13th. The mining company reported $0.19 EPS for the quarter, topping analysts' consensus estimates of $0.11 by $0.08. The firm had revenue of $536.40 million during the quarter, compared to analysts' expectations of $558.21 million. HudBay Minerals had a net margin of 13.13% and a return on equity of 10.73%. The business's revenue for the quarter was up 26.1% compared to the same quarter last year. As a group, equities research analysts anticipate that HudBay Minerals will post 0.79 EPS for the current fiscal year.

HudBay Minerals Increases Dividend

The company also recently declared a semi-annual dividend, which was paid on Friday, September 19th. Shareholders of record on Tuesday, September 2nd were issued a dividend of $0.0073 per share. This represents a yield of 17.0%. The ex-dividend date was Tuesday, September 2nd. This is a positive change from HudBay Minerals's previous semi-annual dividend of $0.01. HudBay Minerals's dividend payout ratio (DPR) is 1.37%.

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.

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