Brokerages Set Hudbay Minerals Inc. (NYSE:HBM) PT at $10.75

Shares of Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) have earned a consensus rating of “Buy” from the eight ratings firms that are covering the firm, Marketbeat Ratings reports. Six investment analysts have rated the stock with a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $10.80.

Several equities research analysts have commented on the stock. StockNews.com lowered shares of Hudbay Minerals from a “buy” rating to a “hold” rating in a research report on Tuesday, August 13th. Jefferies Financial Group upgraded shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a research note on Wednesday, August 14th. Finally, Stifel Canada upgraded shares of Hudbay Minerals to a “strong-buy” rating in a research report on Monday, July 22nd.

Institutional Investors Weigh In On Hudbay Minerals

Institutional investors and hedge funds have recently bought and sold shares of the stock. BNP Paribas Financial Markets raised its holdings in shares of Hudbay Minerals by 122,794.2% in the fourth quarter. BNP Paribas Financial Markets now owns 126,581 shares of the mining company’s stock worth $699,000 after acquiring an additional 126,478 shares during the last quarter. Galibier Capital Management Ltd. acquired a new stake in shares of Hudbay Minerals during the 1st quarter worth about $12,604,000. Vanguard Group Inc. grew its holdings in shares of Hudbay Minerals by 3.2% during the first quarter. Vanguard Group Inc. now owns 8,694,436 shares of the mining company’s stock worth $60,861,000 after buying an additional 272,635 shares in the last quarter. Boston Partners raised its position in shares of Hudbay Minerals by 29.1% in the first quarter. Boston Partners now owns 552,226 shares of the mining company’s stock valued at $3,866,000 after buying an additional 124,376 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in shares of Hudbay Minerals by 88.8% during the first quarter. Russell Investments Group Ltd. now owns 281,015 shares of the mining company’s stock valued at $1,969,000 after buying an additional 132,142 shares during the period. Hedge funds and other institutional investors own 57.82% of the company’s stock.

Hudbay Minerals Stock Up 2.0 %

Hudbay Minerals stock opened at $7.35 on Wednesday. The stock’s 50 day moving average price is $7.89 and its 200 day moving average price is $8.08. Hudbay Minerals has a 1-year low of $3.94 and a 1-year high of $10.49. The company has a market cap of $2.89 billion, a PE ratio of 31.93 and a beta of 1.77. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.86 and a quick ratio of 1.49.

Hudbay Minerals Cuts Dividend

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

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.