Hudbay Minerals (NYSE:HBM) Raised to Buy at StockNews.com

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

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

Hudbay Minerals Trading Up 3.7 %

Hudbay Minerals stock opened at $9.65 on Tuesday. Hudbay Minerals has a 52 week low of $3.94 and a 52 week high of $10.49. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.00 and a current ratio of 1.40. The firm has a market capitalization of $3.39 billion, a price-to-earnings ratio of 41.93, a P/E/G ratio of 0.87 and a beta of 1.88. The company has a 50 day moving average price of $8.10 and a 200 day moving average price of $6.27.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last posted its quarterly earnings results on Tuesday, May 14th. The mining company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.03 by $0.13. The business had revenue of $524.99 million during the quarter, compared to analysts’ expectations of $463.69 million. Hudbay Minerals had a net margin of 4.36% and a return on equity of 6.22%. Research analysts forecast that Hudbay Minerals will post 0.47 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. Stockholders of record on Tuesday, March 5th were paid a $0.0074 dividend. This represents a dividend yield of 0.3%. The ex-dividend date was Monday, March 4th. Hudbay Minerals’s dividend payout ratio is 4.35%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in HBM. Banque Cantonale Vaudoise lifted its stake in Hudbay Minerals by 38.7% during the 1st quarter. Banque Cantonale Vaudoise now owns 6,471 shares of the mining company’s stock valued at $45,000 after acquiring an additional 1,806 shares in the last quarter. Bank of Nova Scotia grew its position in shares of 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 acquiring an additional 3,979 shares during the period. Barclays PLC increased its stake in shares of Hudbay Minerals by 7.1% during the 3rd quarter. Barclays PLC now owns 63,154 shares of the mining company’s stock worth $308,000 after purchasing an additional 4,169 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Hudbay Minerals by 6.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 71,641 shares of the mining company’s stock worth $396,000 after purchasing an additional 4,655 shares during the period. Finally, Register Financial Advisors LLC purchased a new position in Hudbay Minerals in the first quarter valued at approximately $35,000. 57.82% of the stock is owned by 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.