HudBay Minerals Inc (NYSE:HBM) Stock Has Consensus Target Price of $31.33 According to Brokerages

HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) has earned an average recommendation of “Moderate Buy” from the twelve brokerages that are covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $31.33.

HBM has been the topic of a number of analyst reports. Wall Street Zen cut shares of HudBay Minerals from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Citigroup reiterated a “positive” rating on shares of HudBay Minerals in a research report on Wednesday, July 15th. Weiss Ratings cut HudBay Minerals from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, August 13th. Scotiabank reissued an “outperform” rating on shares of HudBay Minerals in a research note on Thursday, July 30th. Finally, Barclays reaffirmed an “overweight” rating on shares of HudBay Minerals in a report on Tuesday.

Hedge Funds Weigh In On HudBay Minerals

A number of institutional investors have recently modified their holdings of HBM. Rakuten Securities Inc. bought a new position in HudBay Minerals in the 2nd quarter worth approximately $28,000. Bullseye Investment Management LLC bought a new position in HudBay Minerals in the 2nd quarter valued at $30,000. Fiduciary Financial Advisors bought a new position in HudBay Minerals in the 2nd quarter valued at $32,000. Integrated Wealth Concepts LLC acquired a new stake 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 in the 2nd quarter valued at $38,000. 57.82% of the stock is owned by institutional investors.

HudBay Minerals Stock Performance

NYSE HBM opened at $25.38 on Tuesday. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.24 and a quick ratio of 1.93. The firm has a market capitalization of $11.27 billion, a price-to-earnings ratio of 14.93, a P/E/G ratio of 0.45 and a beta of 1.58. The company’s fifty day moving average is $27.14 and its two-hundred day moving average is $25.17. HudBay Minerals has a 52-week low of $14.34 and a 52-week high of $32.15.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last posted its quarterly earnings data on Wednesday, July 29th. The mining company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.02. HudBay Minerals had a net margin of 27.48% and a return on equity of 9.47%. The company had revenue of $631.30 million for the quarter, compared to the consensus estimate of $632.43 million. During the same quarter in the previous year, the firm posted $0.19 EPS. The business’s revenue was up 17.7% compared to the same quarter last year. Equities research analysts forecast that HudBay Minerals will post 1.43 EPS for the current year.

HudBay Minerals Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 25th. Shareholders of record on Tuesday, September 8th were given a C$0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.2%. The ex-dividend date was Tuesday, September 8th. HudBay Minerals’s dividend payout ratio (DPR) is presently 1.76%.

About HudBay Minerals

Hudbay Minerals Inc is a Canadian mining company focused primarily on the exploration, development, and operation of copper, zinc, gold, silver, and molybdenum deposits. The company’s products are used in infrastructure, manufacturing, technology, and energy-related applications. Hudbay is listed on the New York Stock Exchange and the Toronto Stock Exchange under the symbol HBM.

Hudbay operates mining and processing assets in Canada and Peru. Its Manitoba operations include the Lalor polymetallic mine and processing facilities in the Snow Lake region, which produce zinc, copper, gold, and silver.