Hudbay Minerals Inc. (NYSE:HBM – Get Free Report) (TSE:HBM) has been given a consensus recommendation of “Buy” by the six brokerages that are presently covering the stock, Marketbeat Ratings reports. Four investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $11.17.
Several equities research analysts have commented on HBM shares. Jefferies Financial Group upgraded Hudbay Minerals from a “hold” rating to a “buy” rating in a research note on Wednesday, August 14th. StockNews.com cut shares of Hudbay Minerals from a “buy” rating to a “hold” rating in a report on Tuesday, August 13th. Finally, Stifel Canada raised shares of Hudbay Minerals to a “strong-buy” rating in a research report on Monday, July 22nd.
Get Our Latest Analysis on Hudbay Minerals
Hudbay Minerals Stock Performance
Hudbay Minerals Cuts Dividend
The company also recently declared a Semi-Annual dividend, which was paid on Friday, September 20th. Investors of record on Tuesday, September 3rd were issued a dividend of $0.007 per share. The ex-dividend date was Tuesday, September 3rd. This represents a yield of 0.2%. Hudbay Minerals’s payout ratio is currently 4.35%.
Hedge Funds Weigh In On Hudbay Minerals
Hedge funds have recently bought and sold shares of the business. Register Financial Advisors LLC bought a new stake in shares of Hudbay Minerals during the 1st quarter valued at $35,000. Banque Cantonale Vaudoise increased its holdings in Hudbay Minerals by 38.7% in the 1st quarter. Banque Cantonale Vaudoise now owns 6,471 shares of the mining company’s stock valued at $45,000 after buying an additional 1,806 shares during the period. Exchange Traded Concepts LLC acquired a new position in shares of Hudbay Minerals in the 3rd quarter valued at approximately $53,000. Ballentine Partners LLC bought a new stake in shares of Hudbay Minerals during the 1st quarter worth approximately $85,000. Finally, Ritholtz Wealth Management acquired a new stake in shares of Hudbay Minerals during the 2nd quarter worth approximately $96,000. 57.82% of the stock is owned by institutional investors.
About Hudbay Minerals
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.
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