HudBay Minerals Inc (NYSE:HBM) Receives Average Rating of "Buy" from Brokerages

Key Points

• HudBay Minerals Inc has received a consensus rating of "Buy" from nine research firms, with seven firms rating the stock as "buy" and two as "strong buy."
• The company reported a 26.1% year-over-year increase in revenue, announcing an EPS of $0.19 that exceeded the consensus estimate.
• HudBay Minerals has increased its semi-annual dividend to $0.0073 per share, marking a yield increase to 17.0% from the previous dividend amount.

Shares of HudBay Minerals Inc (NYSE:HBM - Get Free Report) TSE: HBM have been given a consensus rating of "Buy" by the nine research firms that are covering the company, Marketbeat.com reports. Seven research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company.

HBM has been the topic of several analyst reports. National Bankshares reiterated an "outperform" rating on shares of HudBay Minerals in a report on Thursday, August 14th. Veritas upgraded HudBay Minerals to a "strong-buy" rating in a report on Monday, July 7th. Raymond James Financial upgraded HudBay Minerals to a "moderate buy" rating in a report on Monday, June 30th. The Goldman Sachs Group initiated coverage on HudBay Minerals in a report on Monday, September 8th. They set a "buy" rating on the stock. Finally, Wall Street Zen upgraded HudBay Minerals from a "buy" rating to a "strong-buy" rating in a report on Wednesday, September 10th.

HudBay Minerals Stock Performance

HudBay Minerals stock opened at $13.98 on Friday. The stock's 50-day moving average is $11.47 and its 200-day moving average is $9.55. The company has a market cap of $5.53 billion, a price-to-earnings ratio of 19.14, a price-to-earnings-growth ratio of 0.34 and a beta of 1.51. 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 $14.42.

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

HudBay Minerals Increases Dividend

The firm also recently disclosed 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. The ex-dividend date was Tuesday, September 2nd. This represents a yield of 17.0%. This is a boost from HudBay Minerals's previous semi-annual dividend of $0.01. HudBay Minerals's dividend payout ratio (DPR) is presently 1.37%.

Institutional Investors Weigh In On HudBay Minerals

Several hedge funds and other institutional investors have recently bought and sold shares of HBM. Cetera Investment Advisers increased its holdings in HudBay Minerals by 24.3% during the 4th quarter. Cetera Investment Advisers now owns 19,224 shares of the mining company's stock worth $156,000 after purchasing an additional 3,760 shares during the last quarter. Deutsche Bank AG increased its holdings in HudBay Minerals by 90.5% during the 4th quarter. Deutsche Bank AG now owns 26,582 shares of the mining company's stock worth $215,000 after purchasing an additional 12,630 shares during the last quarter. Vise Technologies Inc. acquired a new position in shares of HudBay Minerals in the 4th quarter worth approximately $193,000. Public Employees Retirement System of Ohio grew its position in shares of HudBay Minerals by 83.8% in the 4th quarter. Public Employees Retirement System of Ohio now owns 224,070 shares of the mining company's stock worth $1,817,000 after acquiring an additional 102,179 shares in the last quarter. Finally, Pacifica Partners Inc. grew its position in shares of HudBay Minerals by 1,126.5% in the 1st quarter. Pacifica Partners Inc. now owns 24,296 shares of the mining company's stock worth $172,000 after acquiring an additional 22,315 shares in the last quarter. 57.82% of the stock is currently owned by hedge funds and other institutional investors.

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.

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