HudBay Minerals Inc (NYSE:HBM) Receives Average Recommendation of "Moderate Buy" from Analysts

Key Points

• HudBay Minerals has a consensus analyst rating of “Moderate Buy”, with 11 buy ratings and 2 hold ratings from 13 covering research firms. The average 1-year price target is about $31.33.
• The company recently beat quarterly earnings and revenue expectations, reporting EPS of $0.40 versus $0.34 expected and revenue of $757.3 million versus $684.73 million estimated. Revenue rose 27.3% year over year.
• HudBay Minerals also declared a quarterly dividend of $0.01 per share, equal to a $0.04 annualized payout and a 0.2% yield. Institutional investors own a majority of the stock, with about 57.82% held by funds and hedge funds.

HudBay Minerals Inc (NYSE:HBM - Get Free Report) TSE: HBM has been given a consensus recommendation of "Moderate Buy" by the thirteen research firms that are currently covering the firm, Marketbeat.com reports. Two research 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 brokers that have issued a report on the stock in the last year is $31.3333.

A number of equities research analysts have recently weighed in on HBM shares. Jefferies Financial Group reissued a "buy" rating on shares of HudBay Minerals in a report on Monday, July 6th. Wall Street Zen upgraded HudBay Minerals from a "hold" rating to a "buy" rating in a research note on Monday. Barclays lifted their price target on HudBay Minerals from $30.00 to $32.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 15th. Citigroup reiterated a "positive" rating on shares of HudBay Minerals in a research note on Wednesday, July 15th. Finally, Canadian Imperial Bank of Commerce reissued an "outperform" rating on shares of HudBay Minerals in a report on Tuesday, April 21st.

HudBay Minerals Stock Up 2.3%

HBM stock opened at $23.54 on Thursday. The firm has a 50 day moving average of $25.00 and a 200 day moving average of $24.09. The stock has a market capitalization of $10.45 billion, a PE ratio of 14.18, a price-to-earnings-growth ratio of 0.34 and a beta of 1.48. The company has a quick ratio of 1.20, a current ratio of 1.36 and a debt-to-equity ratio of 0.14. HudBay Minerals has a 52 week low of $8.93 and a 52 week high of $32.15.

HudBay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last issued its quarterly earnings results on Friday, May 1st. The mining company reported $0.40 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.34 by $0.06. The business had revenue of $757.30 million for the quarter, compared to analyst estimates of $684.73 million. HudBay Minerals had a net margin of 27.75% and a return on equity of 10.04%. HudBay Minerals's revenue for the quarter was up 27.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.24 EPS. Sell-side analysts forecast that HudBay Minerals will post 1.61 earnings per share for the current year.

HudBay Minerals Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Tuesday, June 9th were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.2%. The ex-dividend date was Tuesday, June 9th. HudBay Minerals's dividend payout ratio is 1.81%.

Institutional Trading of HudBay Minerals

Several institutional investors and hedge funds have recently bought and sold shares of HBM. Waterfront Wealth Inc. grew its holdings in HudBay Minerals by 1.0% during the fourth quarter. Waterfront Wealth Inc. now owns 39,451 shares of the mining company's stock worth $783,000 after acquiring an additional 399 shares during the period. Strong Tower Advisory Services raised its position in HudBay Minerals by 0.6% during the fourth quarter. Strong Tower Advisory Services now owns 94,762 shares of the mining company's stock valued at $1,881,000 after acquiring an additional 587 shares in the last quarter. Quantinno Capital Management LP lifted its holdings in HudBay Minerals by 6.0% in the first quarter. Quantinno Capital Management LP now owns 11,597 shares of the mining company's stock valued at $242,000 after acquiring an additional 657 shares during the period. Vontobel Holding Ltd. lifted its holdings in HudBay Minerals by 0.6% in the fourth quarter. Vontobel Holding Ltd. now owns 126,090 shares of the mining company's stock valued at $2,503,000 after acquiring an additional 738 shares during the period. Finally, Rockefeller Capital Management L.P. boosted its position in HudBay Minerals by 25.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 4,933 shares of the mining company's stock worth $98,000 after purchasing an additional 986 shares in the last quarter. 57.82% of the stock is currently owned by institutional investors and hedge funds.

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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