Hudbay Minerals Inc. (NYSE:HBM) Receives $10.75 Consensus PT from Analysts

Shares of Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) have been given a consensus rating of “Buy” by the eight analysts that are currently covering the stock, MarketBeat.com reports. Six analysts have rated the stock with a buy rating and two have issued a strong buy rating on the company. The average 12-month target price among brokers that have covered the stock in the last year is $10.80.

HBM has been the topic of a number of recent research reports. StockNews.com downgraded shares of Hudbay Minerals from a “buy” rating to a “hold” rating in a research note on Tuesday, August 13th. Stifel Canada upgraded shares of Hudbay Minerals to a “strong-buy” rating in a research note on Monday, July 22nd. Finally, Jefferies Financial Group upgraded shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a research note on Wednesday, August 14th.

Hudbay Minerals Stock Up 1.8 %

HBM opened at $7.56 on Wednesday. Hudbay Minerals has a fifty-two week low of $3.94 and a fifty-two week high of $10.49. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.86 and a quick ratio of 1.49. The firm’s fifty day moving average price is $7.85 and its two-hundred day moving average price is $8.12. The company has a market capitalization of $2.97 billion, a P/E ratio of 32.85 and a beta of 1.77.

Hudbay Minerals Cuts Dividend

The business also recently declared a Semi-Annual dividend, which will be paid on Friday, September 20th. Investors of record on Tuesday, September 3rd will be given a dividend of $0.007 per share. The ex-dividend date is Tuesday, September 3rd. This represents a yield of 0.2%. Hudbay Minerals’s dividend payout ratio (DPR) is 4.35%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in HBM. Regal Partners Ltd acquired a new position in Hudbay Minerals during the 2nd quarter worth about $22,956,000. TD Asset Management Inc lifted its position in Hudbay Minerals by 199.4% during the 2nd quarter. TD Asset Management Inc now owns 2,906,301 shares of the mining company’s stock valued at $26,294,000 after purchasing an additional 1,935,709 shares during the period. Galibier Capital Management Ltd. acquired a new position in Hudbay Minerals during the 1st quarter valued at about $12,604,000. Cubist Systematic Strategies LLC lifted its position in Hudbay Minerals by 2,521.9% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 1,752,685 shares of the mining company’s stock valued at $15,861,000 after purchasing an additional 1,685,836 shares during the period. Finally, Driehaus Capital Management LLC acquired a new position in Hudbay Minerals in the second quarter valued at approximately $14,718,000. Institutional investors and hedge funds own 57.82% of the company’s stock.

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.