Hudbay Minerals Inc. (NYSE:HBM) Receives Average Recommendation of “Buy” from Analysts

Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) has received a consensus recommendation of “Buy” from the six research firms that are covering the firm, Marketbeat reports. Four investment analysts have rated the stock with a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $11.17.

Several analysts have weighed in on the stock. Jefferies Financial Group raised shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a research note on Wednesday, August 14th. StockNews.com cut shares of Hudbay Minerals from a “buy” rating to a “hold” rating in a research note on Tuesday, August 13th. Finally, Stifel Canada upgraded shares of Hudbay Minerals to a “strong-buy” rating in a report on Monday, July 22nd.

Hudbay Minerals Stock Down 2.4 %

Shares of HBM opened at $9.31 on Thursday. Hudbay Minerals has a 52 week low of $3.94 and a 52 week high of $10.49. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.49 and a current ratio of 1.86. The firm has a market capitalization of $3.66 billion, a P/E ratio of 40.46 and a beta of 1.77. The company has a 50-day simple moving average of $8.51 and a 200-day simple moving average of $8.60.

Hudbay Minerals Cuts Dividend

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

Hedge Funds Weigh In On Hudbay Minerals

Hedge funds and other institutional investors have recently made changes to their positions in the company. Exchange Traded Concepts LLC acquired a new position in Hudbay Minerals during the 3rd quarter worth approximately $53,000. Clear Harbor Asset Management LLC bought a new stake in Hudbay Minerals during the 3rd quarter worth approximately $92,000. Ritholtz Wealth Management bought a new stake in shares of Hudbay Minerals in the 2nd quarter valued at $96,000. Armistice Capital LLC bought a new stake in shares of Hudbay Minerals in the 2nd quarter valued at $97,000. Finally, Liontrust Investment Partners LLP bought a new stake in shares of Hudbay Minerals in the 2nd quarter valued at $100,000. 57.82% of the stock is currently owned by institutional investors and hedge funds.

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.