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

Key Points

• Analysts give HudBay an average recommendation of "Moderate Buy" from 14 firms with an average 12‑month target price of $26.00 (11 buys, 2 holds, 1 strong buy).
• In the latest quarter HudBay reported $0.22 EPS, missing the $0.40 consensus, while revenue rose 25.3% year‑over‑year to $732.9 million; the stock carries a market cap of $9.69 billion and a P/E of 17.07.
• The company paid a $0.01 dividend on March 27 (MarketBeat reports a 9.0% yield) and saw notable institutional buying—FIL Ltd increased its stake to ~33.14 million shares, with institutions owning 57.82% of the company.

Shares of HudBay Minerals Inc (NYSE:HBM - Get Free Report) TSE: HBM have received an average recommendation of "Moderate Buy" from the fourteen research firms that are presently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation, eleven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $26.00.

HBM has been the subject of several research analyst reports. Weiss Ratings raised HudBay Minerals from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Tuesday, February 10th. Raymond James Financial reaffirmed an "outperform" rating on shares of HudBay Minerals in a research report on Wednesday, January 14th. UBS Group initiated coverage on HudBay Minerals in a research report on Thursday, January 8th. They set a "buy" rating for the company. Citigroup raised their target price on HudBay Minerals from $23.00 to $32.50 and gave the company a "buy" rating in a research report on Wednesday, February 11th. Finally, Scotiabank reaffirmed an "outperform" rating on shares of HudBay Minerals in a research report on Monday, January 26th.

HudBay Minerals Trading Up 0.3%

Shares of HudBay Minerals stock opened at $24.41 on Tuesday. HudBay Minerals has a 1 year low of $6.75 and a 1 year high of $28.74. The firm has a market cap of $9.69 billion, a PE ratio of 17.07, a P/E/G ratio of 0.33 and a beta of 1.41. The stock has a fifty day moving average price of $23.30 and a 200-day moving average price of $20.16. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.95 and a quick ratio of 0.78.

HudBay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last announced its earnings results on Friday, February 20th. The mining company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.18). HudBay Minerals had a net margin of 25.71% and a return on equity of 8.91%. The business had revenue of $732.90 million for the quarter, compared to analysts' expectations of $730.13 million. During the same period in the prior year, the business earned $0.18 earnings per share. The company's revenue for the quarter was up 25.3% compared to the same quarter last year. Equities research analysts anticipate that HudBay Minerals will post 0.79 EPS for the current year.

HudBay Minerals Announces Dividend

The company also recently declared a dividend, which was paid on Friday, March 27th. Stockholders of record on Tuesday, March 10th were paid a dividend of $0.01 per share. The ex-dividend date was Tuesday, March 10th. This represents a dividend yield of 9.0%. HudBay Minerals's dividend payout ratio is presently 0.70%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. FIL Ltd grew its stake in shares of HudBay Minerals by 202.0% during the 4th quarter. FIL Ltd now owns 33,143,172 shares of the mining company's stock worth $658,010,000 after acquiring an additional 22,169,339 shares during the period. Vanguard Group Inc. grew its stake in shares of HudBay Minerals by 2.4% during the 3rd quarter. Vanguard Group Inc. now owns 16,198,255 shares of the mining company's stock worth $245,355,000 after acquiring an additional 373,399 shares during the period. Invesco Ltd. grew its stake in shares of HudBay Minerals by 0.4% during the 3rd quarter. Invesco Ltd. now owns 11,391,356 shares of the mining company's stock worth $172,693,000 after acquiring an additional 46,948 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of HudBay Minerals by 3.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 11,334,474 shares of the mining company's stock worth $171,832,000 after acquiring an additional 348,278 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of HudBay Minerals by 10.4% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,502,218 shares of the mining company's stock worth $159,111,000 after acquiring an additional 986,278 shares during the period. Institutional investors own 57.82% of the company's stock.

HudBay Minerals Company Profile

HudBay Minerals Inc is a Canada-based mining company engaged in the exploration, development and production of base and precious metals. Its primary products include copper, zinc, gold and silver concentrates, which are sold to smelters and refiners worldwide. The company's operations span multiple stages of the mining cycle, from resource definition and feasibility studies to mine construction, extraction and reclamation.

The company traces its roots back to 1927, when it was established as Hudson Bay Mining & Smelting Co Limited.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.