Hudbay Minerals (NYSE:HBM) Upgraded by StockNews.com to “Buy”

StockNews.com upgraded shares of Hudbay Minerals (NYSE:HBM) (TSE:HBM) from a hold rating to a buy rating in a report issued on Tuesday.

Several other research firms have also weighed in on HBM. National Bank Financial upgraded shares of Hudbay Minerals from a hold rating to a strong-buy rating in a research note on Tuesday, May 14th. Bank of America raised shares of Hudbay Minerals from a neutral rating to a buy rating and set a $9.00 price objective for the company in a research report on Tuesday, April 9th. Stifel Nicolaus assumed coverage on shares of Hudbay Minerals in a research note on Tuesday, March 26th. They set a buy rating on the stock. Raymond James lifted their target price on Hudbay Minerals from $9.00 to $10.50 and gave the company an outperform rating in a research note on Wednesday, March 20th. Finally, Jefferies Financial Group initiated coverage on Hudbay Minerals in a research report on Friday, May 3rd. They set a hold rating and a $13.00 price target on the stock. One investment analyst has rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Hudbay Minerals has a consensus rating of Buy and an average target price of $10.21.

Hudbay Minerals Price Performance

HBM opened at $9.65 on Tuesday. The company has a market capitalization of $3.39 billion, a P/E ratio of 41.93, a PEG ratio of 0.87 and a beta of 1.88. Hudbay Minerals has a 1-year low of $3.94 and a 1-year high of $10.49. The company has a 50-day moving average of $8.10 and a 200-day moving average of $6.27. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.00 and a current ratio of 1.40.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last released its earnings results on Tuesday, May 14th. The mining company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.13. Hudbay Minerals had a return on equity of 6.22% and a net margin of 4.36%. The company had revenue of $524.99 million for the quarter, compared to the consensus estimate of $463.69 million. Equities analysts expect that Hudbay Minerals will post 0.47 EPS for the current fiscal year.

Hudbay Minerals Cuts Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Friday, March 22nd. Stockholders of record on Tuesday, March 5th were given a dividend of $0.0074 per share. The ex-dividend date was Monday, March 4th. This represents a dividend yield of 0.3%. Hudbay Minerals’s dividend payout ratio is presently 4.35%.

Institutional Trading of Hudbay Minerals

Large investors have recently added to or reduced their stakes in the business. Register Financial Advisors LLC acquired a new position in Hudbay Minerals during the 1st quarter worth $35,000. Banque Cantonale Vaudoise lifted its holdings in Hudbay Minerals by 38.7% in the first quarter. Banque Cantonale Vaudoise now owns 6,471 shares of the mining company’s stock worth $45,000 after purchasing an additional 1,806 shares during the period. Ballentine Partners LLC bought a new position in Hudbay Minerals in the 1st quarter valued at about $85,000. Bank of Nova Scotia increased its stake in Hudbay Minerals by 19.1% during the 3rd quarter. Bank of Nova Scotia now owns 24,843 shares of the mining company’s stock valued at $121,000 after buying an additional 3,979 shares during the period. Finally, Shell Asset Management Co. raised its position in shares of Hudbay Minerals by 38.6% during the 3rd quarter. Shell Asset Management Co. now owns 26,189 shares of the mining company’s stock worth $128,000 after buying an additional 7,300 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, 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.