Hudbay Minerals (NYSE:HBM) Raised to "Buy" at Bank of America

Bank of America upgraded shares of Hudbay Minerals (NYSE:HBM - Free Report) TSE: HBM from a neutral rating to a buy rating in a research note published on Tuesday, MarketBeat reports. Bank of America currently has $9.00 target price on the mining company's stock.

Other equities analysts have also recently issued research reports about the company. StockNews.com raised Hudbay Minerals from a hold rating to a buy rating in a research note on Friday, March 29th. Raymond James lifted their price target on Hudbay Minerals from $9.00 to $10.50 and gave the stock an outperform rating in a research note on Wednesday, March 20th. Finally, Stifel Nicolaus assumed coverage on Hudbay Minerals in a research report on Tuesday, March 26th. They set a buy rating for the company. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of Buy and a consensus target price of $9.75.

Hudbay Minerals Stock Performance

HBM stock traded up $0.51 during mid-day trading on Tuesday, reaching $7.98. The company had a trading volume of 6,028,785 shares, compared to its average volume of 2,148,764. The company has a quick ratio of 0.87, a current ratio of 1.25 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $2.80 billion, a P/E ratio of 39.70, a P/E/G ratio of 1.29 and a beta of 1.95. Hudbay Minerals has a one year low of $3.94 and a one year high of $8.11. The stock's 50-day simple moving average is $6.16 and its two-hundred day simple moving average is $5.32.

Hudbay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last released its earnings results on Friday, February 23rd. The mining company reported $0.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.14 by $0.06. The firm had revenue of $602.20 million for the quarter, compared to analyst estimates of $552.74 million. Hudbay Minerals had a return on equity of 3.86% and a net margin of 3.95%. Hudbay Minerals's revenue was up 87.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.01 earnings per share. Research analysts anticipate that Hudbay Minerals will post 0.44 EPS for the current year.

Hudbay Minerals Cuts Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Friday, March 22nd. Shareholders of record on Tuesday, March 5th were given a dividend of $0.0074 per share. The ex-dividend date of this dividend was Monday, March 4th. This represents a yield of 0.3%. Hudbay Minerals's payout ratio is presently 5.00%.

Institutional Investors Weigh In On Hudbay Minerals

Institutional investors have recently made changes to their positions in the company. Tower Research Capital LLC TRC lifted its holdings in shares of Hudbay Minerals by 2,894.4% during the 3rd quarter. Tower Research Capital LLC TRC now owns 5,330 shares of the mining company's stock valued at $26,000 after buying an additional 5,152 shares during the last quarter. U S Global Investors Inc. acquired a new stake in shares of Hudbay Minerals during the 3rd quarter valued at about $29,000. Osaic Holdings Inc. lifted its holdings in shares of Hudbay Minerals by 290.9% during the 2nd quarter. Osaic Holdings Inc. now owns 8,185 shares of the mining company's stock valued at $39,000 after buying an additional 6,091 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in Hudbay Minerals by 29.7% in the 2nd quarter. Wells Fargo & Company MN now owns 10,043 shares of the mining company's stock worth $48,000 after purchasing an additional 2,300 shares during the last quarter. Finally, CreativeOne Wealth LLC acquired a new stake in Hudbay Minerals in the 2nd quarter worth approximately $48,000. 57.82% of the stock is currently owned by institutional investors and hedge funds.

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.