Hudbay Minerals (NYSE:HBM) Issues Earnings Results, Beats Estimates By $0.14 EPS

Hudbay Minerals (NYSE:HBM - Get Free Report) TSE: HBM issued its earnings results on Monday. The mining company reported $0.24 EPS for the quarter, topping analysts' consensus estimates of $0.10 by $0.14, Zacks reports. The company had revenue of $594.90 million for the quarter, compared to analysts' expectations of $537.36 million. Hudbay Minerals had a net margin of 3.80% and a return on equity of 7.29%. The firm's revenue was up 13.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.22 EPS.

Hudbay Minerals Stock Down 2.8%

NYSE:HBM traded down $0.24 during mid-day trading on Friday, hitting $8.13. 6,445,420 shares of the company's stock were exchanged, compared to its average volume of 4,899,841. Hudbay Minerals has a one year low of $5.95 and a one year high of $10.49. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.86 and a quick ratio of 1.47. The business has a fifty day moving average price of $7.49 and a 200 day moving average price of $8.15. The company has a market cap of $3.21 billion, a PE ratio of 45.14 and a beta of 1.56.

Hudbay Minerals Increases Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Friday, March 21st. Investors of record on Tuesday, March 4th were paid a dividend of $0.007 per share. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a yield of 0.2%. This is a positive change from Hudbay Minerals's previous semi-annual dividend of $0.01. Hudbay Minerals's payout ratio is presently 2.63%.

Analysts Set New Price Targets

A number of research firms have issued reports on HBM. Scotiabank restated an "outperform" rating on shares of Hudbay Minerals in a research report on Tuesday. BMO Capital Markets began coverage on shares of Hudbay Minerals in a research report on Wednesday, April 16th. They set an "outperform" rating on the stock. StockNews.com upgraded shares of Hudbay Minerals from a "buy" rating to a "strong-buy" rating in a research report on Tuesday. Desjardins began coverage on shares of Hudbay Minerals in a research report on Friday, April 4th. They set a "buy" rating on the stock. Finally, Stifel Canada raised shares of Hudbay Minerals to a "strong-buy" rating in a research note on Wednesday, March 19th. Four investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Hudbay Minerals currently has an average rating of "Buy" and a consensus target price of $14.00.

Institutional Investors Weigh In On Hudbay Minerals

A hedge fund recently raised its stake in Hudbay Minerals stock. Jones Financial Companies Lllp grew its position in shares of Hudbay Minerals Inc. (NYSE:HBM - Free Report) TSE: HBM by 131.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,570 shares of the mining company's stock after buying an additional 3,733 shares during the quarter. Jones Financial Companies Lllp's holdings in Hudbay Minerals were worth $50,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors own 57.82% of the company's stock.

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.