Stifel Nicolaus Begins Coverage on Hudbay Minerals (NYSE:HBM)

Stifel Nicolaus initiated coverage on shares of Hudbay Minerals (NYSE:HBM) (TSE:HBM) in a research report sent to investors on Tuesday morning, StockNewsAPI reports. The brokerage issued a buy rating on the mining company’s stock.

Separately, Raymond James boosted their price objective on shares of Hudbay Minerals from $9.00 to $10.50 and gave the stock an outperform rating in a report on Wednesday, March 20th. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Hudbay Minerals currently has a consensus rating of Buy and a consensus target price of $9.90.

Hudbay Minerals Stock Up 1.2 %

Shares of NYSE:HBM opened at $7.00 on Tuesday. The company has a market cap of $2.46 billion, a price-to-earnings ratio of 35.00, a PEG ratio of 1.30 and a beta of 1.94. The firm’s 50-day simple moving average is $5.96 and its 200-day simple moving average is $5.22. The company has a quick ratio of 0.87, a current ratio of 1.25 and a debt-to-equity ratio of 0.61. Hudbay Minerals has a fifty-two week low of $3.94 and a fifty-two week high of $7.10.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last issued its earnings results on Friday, February 23rd. The mining company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.06. The business had revenue of $602.20 million for the quarter, compared to the consensus estimate of $552.74 million. Hudbay Minerals had a net margin of 3.95% and a return on equity of 3.86%. The business’s quarterly revenue was up 87.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.01 earnings per share. As a group, equities research analysts predict that Hudbay Minerals will post 0.41 earnings per share for the current year.

Hudbay Minerals Cuts Dividend

The firm also recently declared a semi-annual dividend, which was paid on Friday, March 22nd. Shareholders of record on Tuesday, March 5th were issued a $0.0074 dividend. This represents a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, March 4th. Hudbay Minerals’s dividend payout ratio (DPR) is presently 5.00%.

Institutional Trading of Hudbay Minerals

Several institutional investors and hedge funds have recently modified their holdings of the business. Raymond James & Associates acquired a new position in shares of Hudbay Minerals in the first quarter valued at approximately $131,000. Bank of New York Mellon Corp raised its position in shares of Hudbay Minerals by 24.0% in the first quarter. Bank of New York Mellon Corp now owns 75,817 shares of the mining company’s stock valued at $595,000 after buying an additional 14,683 shares during the last quarter. US Bancorp DE raised its position in shares of Hudbay Minerals by 122.4% in the first quarter. US Bancorp DE now owns 7,899 shares of the mining company’s stock valued at $62,000 after buying an additional 4,347 shares during the last quarter. HighTower Advisors LLC acquired a new position in shares of Hudbay Minerals in the first quarter valued at approximately $442,000. Finally, BlackRock Inc. raised its position in shares of Hudbay Minerals by 81.5% in the first quarter. BlackRock Inc. now owns 95,254 shares of the mining company’s stock valued at $748,000 after buying an additional 42,769 shares during the last quarter. Hedge funds and other institutional investors own 57.82% of the company’s stock.

About Hudbay Minerals

Hudbay Minerals Inc, a diversified mining company, together with its subsidiaries, 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.