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 eight analysts that are currently covering the company, MarketBeat.com reports. Six equities research analysts have rated the stock with a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $10.80.

A number of equities analysts have recently commented on HBM shares. StockNews.com lowered Hudbay Minerals from a “buy” rating to a “hold” rating in a research note on Tuesday, August 13th. Stifel Canada raised shares of Hudbay Minerals to a “strong-buy” rating in a research report on Monday, July 22nd. Finally, Jefferies Financial Group raised shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a report on Wednesday, August 14th.

Hudbay Minerals Stock Up 1.9 %

Shares of Hudbay Minerals stock opened at $7.34 on Wednesday. The stock has a market capitalization of $2.89 billion, a P/E ratio of 31.91 and a beta of 1.77. Hudbay Minerals has a 12-month low of $3.94 and a 12-month high of $10.49. The company has a quick ratio of 1.49, a current ratio of 1.86 and a debt-to-equity ratio of 0.47. The stock has a 50 day moving average price of $7.89 and a two-hundred day moving average price of $8.11.

Hudbay Minerals Cuts Dividend

The firm also recently declared a Semi-Annual dividend, which will be paid on Friday, September 20th. Shareholders of record on Tuesday, September 3rd will be paid a dividend of $0.007 per share. The ex-dividend date is Tuesday, September 3rd. This represents a yield of 0.2%. Hudbay Minerals’s dividend payout ratio is currently 4.35%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HBM. BNP Paribas Financial Markets raised its stake in Hudbay Minerals by 122,794.2% during the fourth quarter. BNP Paribas Financial Markets now owns 126,581 shares of the mining company’s stock worth $699,000 after acquiring an additional 126,478 shares in the last quarter. Jump Financial LLC bought a new stake in shares of Hudbay Minerals during the fourth quarter valued at approximately $1,532,000. Boston Partners acquired a new stake in shares of Hudbay Minerals in the fourth quarter valued at approximately $2,362,000. Dynamic Technology Lab Private Ltd bought a new position in Hudbay Minerals in the 4th quarter worth approximately $186,000. Finally, Trexquant Investment LP bought a new position in Hudbay Minerals in the 4th quarter valued at $1,502,000. Institutional investors own 57.82% of the company’s stock.

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.