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

Key Points

• Analysts maintain a favorable outlook: HudBay Minerals has a consensus “Moderate Buy” rating, with 11 buys and two holds among 13 analysts. The average 12-month price target is $31.33, compared with the reported share price of $26.65.
• Quarterly results exceeded expectations: The company reported earnings of $0.28 per share versus the $0.26 consensus estimate, while revenue rose 17.7% year over year to $631.3 million.
• Institutional ownership remains substantial: Institutional investors own 57.82% of HudBay Minerals, with several firms recently initiating or increasing positions. The company also declared a quarterly dividend of $0.01 per share, yielding approximately 0.2%.

Shares of HudBay Minerals Inc (NYSE:HBM - Get Free Report) TSE: HBM have received a consensus recommendation of "Moderate Buy" from the thirteen ratings firms that are covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $31.3333.

HBM has been the subject of a number of research reports. Barclays upped their price objective on shares of HudBay Minerals from $30.00 to $32.00 and gave the company an "overweight" rating in a research note on Wednesday, July 15th. Canadian Imperial Bank of Commerce reissued an "outperform" rating on shares of HudBay Minerals in a research note on Tuesday, April 21st. Bank of America reduced their price objective on HudBay Minerals from $33.50 to $29.50 and set a "buy" rating on the stock in a research note on Thursday, July 9th. Weiss Ratings downgraded HudBay Minerals from a "buy (b)" rating to a "buy (b-)" rating in a report on Thursday. Finally, Scotiabank reissued an "outperform" rating on shares of HudBay Minerals in a research note on Thursday, July 30th.

Institutional Trading of HudBay Minerals

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Rakuten Securities Inc. purchased a new position in shares of HudBay Minerals in the second quarter worth $28,000. Allworth Financial LP raised its holdings in HudBay Minerals by 107.9% during the 3rd quarter. Allworth Financial LP now owns 1,990 shares of the mining company's stock valued at $30,000 after buying an additional 1,033 shares during the last quarter. Fiduciary Financial Advisors purchased a new stake in HudBay Minerals during the 2nd quarter valued at $32,000. EFG International AG purchased a new stake in HudBay Minerals during the 2nd quarter valued at $38,000. Finally, Quarry LP bought a new stake in HudBay Minerals in the 3rd quarter worth $38,000. Institutional investors own 57.82% of the company's stock.

HudBay Minerals Price Performance

Shares of HudBay Minerals stock opened at $26.65 on Monday. The company has a current ratio of 2.24, a quick ratio of 1.93 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $11.83 billion, a PE ratio of 15.67, a price-to-earnings-growth ratio of 0.41 and a beta of 1.48. The business's 50-day moving average price is $24.27 and its 200-day moving average price is $24.34. HudBay Minerals has a 12 month low of $10.72 and a 12 month high of $32.15.

HudBay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last released its earnings results on Wednesday, July 29th. The mining company reported $0.28 earnings per share for the quarter, topping analysts' consensus estimates of $0.26 by $0.02. The company had revenue of $631.30 million during the quarter, compared to the consensus estimate of $632.43 million. HudBay Minerals had a return on equity of 9.47% and a net margin of 27.48%.HudBay Minerals's quarterly revenue was up 17.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.19 EPS. Sell-side analysts forecast that HudBay Minerals will post 1.58 EPS for the current fiscal year.

HudBay Minerals Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Tuesday, September 8th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.2%. The ex-dividend date is Tuesday, September 8th. HudBay Minerals's dividend payout ratio (DPR) is presently 1.76%.

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.

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