Hudbay Minerals (NYSE:HBM) Receives New Coverage from Analysts at Jefferies Financial Group

Jefferies Financial Group began coverage on shares of Hudbay Minerals (NYSE:HBM) (TSE:HBM) in a research report report published on Friday morning, MarketBeat Ratings reports. The firm issued a hold rating and a $13.00 target price on the mining company’s stock.

A number of other research firms also recently weighed in on HBM. Bank of America raised shares of Hudbay Minerals from a neutral rating to a buy rating and set a $9.00 target price for the company in a research report on Tuesday, April 9th. Stifel Nicolaus started coverage on shares of Hudbay Minerals in a research report on Tuesday, March 26th. They set a buy rating for the company. Raymond James increased their target price on shares of Hudbay Minerals from $9.00 to $10.50 and gave the company an outperform rating in a research report on Wednesday, March 20th. Finally, StockNews.com raised shares of Hudbay Minerals from a hold rating to a buy rating in a research report on Friday, March 29th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $10.21.

Hudbay Minerals Price Performance

Shares of NYSE HBM traded up $0.05 during mid-day trading on Friday, hitting $8.37. 3,220,373 shares of the stock traded hands, compared to its average volume of 3,211,022. The company has a market cap of $2.94 billion, a PE ratio of 41.85, a price-to-earnings-growth ratio of 0.90 and a beta of 1.88. Hudbay Minerals has a twelve month low of $3.94 and a twelve month high of $8.85. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.25 and a quick ratio of 0.87. The firm has a 50 day simple moving average of $7.15 and a two-hundred day simple moving average of $5.76.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last announced its quarterly earnings results on Friday, February 23rd. The mining company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.06. Hudbay Minerals had a return on equity of 3.86% and a net margin of 3.95%. The firm had revenue of $602.20 million for the quarter, compared to analyst estimates of $552.74 million. During the same period last year, the firm posted $0.01 earnings per share. The business’s revenue for the quarter was up 87.5% on a year-over-year basis. As a group, equities research analysts forecast that Hudbay Minerals will post 0.4 EPS for the current fiscal year.

Hudbay Minerals Cuts Dividend

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

Institutional Investors Weigh In On Hudbay Minerals

Several large investors have recently made changes to their positions in HBM. Register Financial Advisors LLC purchased a new stake in Hudbay Minerals in the 1st quarter worth about $35,000. Banque Cantonale Vaudoise increased its holdings in Hudbay Minerals by 38.7% in the 1st quarter. Banque Cantonale Vaudoise now owns 6,471 shares of the mining company’s stock worth $45,000 after acquiring an additional 1,806 shares during the last quarter. Ballentine Partners LLC purchased a new stake in Hudbay Minerals in the 1st quarter worth about $85,000. Bank of Nova Scotia increased its holdings in Hudbay Minerals by 19.1% in the 3rd quarter. Bank of Nova Scotia now owns 24,843 shares of the mining company’s stock worth $121,000 after acquiring an additional 3,979 shares during the last quarter. Finally, Shell Asset Management Co. increased its holdings in Hudbay Minerals by 38.6% in the 3rd quarter. Shell Asset Management Co. now owns 26,189 shares of the mining company’s stock worth $128,000 after acquiring an additional 7,300 shares during the last quarter. 57.82% of the stock is owned by hedge funds and other institutional investors.

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.