Brokerages Set Hudbay Minerals Inc. (NYSE:HBM) Target Price at $11.17

Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) has been assigned an average rating of “Buy” from the six ratings firms that are presently covering the company, Marketbeat.com 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 1 year price objective among brokers that have covered the stock in the last year is $11.17.

Separately, StockNews.com raised shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a report on Friday, February 7th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Tower Research Capital LLC TRC raised its position in Hudbay Minerals by 9,877.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,093 shares of the mining company’s stock worth $25,000 after acquiring an additional 3,062 shares during the period. Prospera Private Wealth LLC purchased a new stake in shares of Hudbay Minerals during the third quarter worth about $28,000. Algert Global LLC acquired a new position in shares of Hudbay Minerals during the 4th quarter worth about $86,000. Plato Investment Management Ltd purchased a new position in Hudbay Minerals in the 4th quarter valued at about $95,000. Finally, Hsbc Holdings PLC acquired a new stake in Hudbay Minerals in the 4th quarter worth about $97,000. Hedge funds and other institutional investors own 57.82% of the company’s stock.

Hudbay Minerals Trading Up 6.6 %

NYSE HBM opened at $7.04 on Wednesday. The company has a fifty day moving average of $8.23 and a 200 day moving average of $8.50. The company has a market capitalization of $2.78 billion, a PE ratio of 39.09 and a beta of 1.72. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.86 and a quick ratio of 1.47. Hudbay Minerals has a 1 year low of $6.23 and a 1 year high of $10.49.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last issued its quarterly earnings data on Wednesday, February 19th. The mining company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.02). The company had revenue of $584.90 million during the quarter, compared to analyst estimates of $588.28 million. Hudbay Minerals had a net margin of 3.80% and a return on equity of 7.29%. The business’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same period last year, the firm earned $0.20 EPS. Research analysts forecast that Hudbay Minerals will post 0.79 earnings per share for the current year.

Hudbay Minerals Increases Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Friday, March 21st. Stockholders of record on Tuesday, March 4th will be given a $0.007 dividend. The ex-dividend date is Tuesday, March 4th. This is a boost from Hudbay Minerals’s previous semi-annual dividend of $0.01. This represents a dividend yield of 0.2%. Hudbay Minerals’s payout ratio is 5.56%.

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.