HudBay Minerals Inc (NYSE:HBM – Get Free Report) (TSE:HBM) has earned a consensus recommendation of “Moderate Buy” from the twelve analysts that are presently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 1-year target price among analysts that have covered the stock in the last year is $31.3333.
A number of research firms have recently commented on HBM. Bank of America lowered their price target on HudBay Minerals from $33.50 to $29.50 and set a “buy” rating for the company in a report on Thursday, July 9th. Wall Street Zen lowered HudBay Minerals from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Scotiabank reiterated an “outperform” rating on shares of HudBay Minerals in a research report on Thursday, July 30th. Barclays boosted their target price on HudBay Minerals from $30.00 to $32.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 15th. Finally, Citigroup reissued a “positive” rating on shares of HudBay Minerals in a report on Wednesday, July 15th.
View Our Latest Stock Analysis on HBM
HudBay Minerals Stock Down 7.5%
HudBay Minerals (NYSE:HBM – Get Free Report) (TSE:HBM) last issued its earnings results on Wednesday, July 29th. The mining company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.02. The firm had revenue of $631.30 million for the quarter, compared to the consensus estimate of $632.43 million. HudBay Minerals had a return on equity of 9.47% and a net margin of 27.48%.The company’s revenue was up 17.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.19 EPS. Research analysts forecast that HudBay Minerals will post 1.51 EPS for the current fiscal year.
HudBay Minerals Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Tuesday, September 8th will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date is Tuesday, September 8th. HudBay Minerals’s dividend payout ratio is currently 1.76%.
Hedge Funds Weigh In On HudBay Minerals
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Rakuten Securities Inc. acquired a new stake in HudBay Minerals in the second quarter valued at approximately $28,000. Allworth Financial LP increased its holdings in shares of HudBay Minerals by 107.9% during the third quarter. Allworth Financial LP now owns 1,990 shares of the mining company’s stock worth $30,000 after buying an additional 1,033 shares in the last quarter. Fiduciary Financial Advisors acquired a new position in shares of HudBay Minerals during the second quarter worth $32,000. Integrated Wealth Concepts LLC bought a new position in shares of HudBay Minerals in the 2nd quarter valued at $36,000. Finally, EFG International AG acquired a new stake in shares of HudBay Minerals during the 2nd quarter valued at $38,000. Institutional investors own 57.82% of the company’s stock.
HudBay Minerals Company Profile
Hudbay Minerals Inc is a Canadian mining company focused primarily on the exploration, development and operation of copper assets. The company also produces gold, zinc, silver and molybdenum as byproducts or additional products from its mining operations.
Hudbay operates the Constancia open-pit copper-molybdenum mine in southern Peru, along with the nearby Pampacancha satellite deposit. In Manitoba, Canada, the company operates the Lalor polymetallic mine and the Snow Lake processing facilities, which produce copper, zinc, gold and silver.
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