Hudbay Minerals Inc. (NYSE:HBM) Receives Consensus Rating of “Buy” from Brokerages

Shares of Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) have been given an average rating of “Buy” by the six analysts that are currently covering the company, MarketBeat reports. Four research 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 target among brokers that have issued a report on the stock in the last year is $11.17.

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

Hudbay Minerals Price Performance

Shares of HBM opened at $9.06 on Thursday. Hudbay Minerals has a one year low of $3.94 and a one year high of $10.49. The firm has a market capitalization of $3.57 billion, a price-to-earnings ratio of 39.39 and a beta of 1.78. The stock’s fifty day moving average is $8.55 and its 200-day moving average is $8.62. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.49 and a current ratio of 1.86.

Hudbay Minerals Cuts Dividend

The company also recently disclosed a Semi-Annual dividend, which was paid on Friday, September 20th. Investors of record on Tuesday, September 3rd were issued a $0.007 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a yield of 0.2%. Hudbay Minerals’s dividend payout ratio is currently 4.35%.

Hedge Funds Weigh In On Hudbay Minerals

Several institutional investors have recently bought and sold shares of HBM. Meritage Portfolio Management bought a new stake in Hudbay Minerals during the 3rd quarter valued at approximately $6,743,000. CWA Asset Management Group LLC acquired a new stake in shares of Hudbay Minerals during the 3rd quarter valued at about $527,000. Old West Investment Management LLC grew its stake in shares of Hudbay Minerals by 100.0% in the 3rd quarter. Old West Investment Management LLC now owns 450,000 shares of the mining company’s stock valued at $4,136,000 after purchasing an additional 225,000 shares during the period. Van ECK Associates Corp grew its position in Hudbay Minerals by 0.4% in the third quarter. Van ECK Associates Corp now owns 451,628 shares of the mining company’s stock valued at $4,213,000 after acquiring an additional 1,960 shares during the period. Finally, Donald Smith & CO. Inc. increased its position in shares of Hudbay Minerals by 31.9% during the 3rd quarter. Donald Smith & CO. Inc. now owns 3,748,780 shares of the mining company’s stock worth $34,451,000 after purchasing an additional 906,417 shares in the last quarter. 57.82% of the stock is currently 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.