Hudbay Minerals (NYSE:HBM) Earns Hold Rating from Analysts at Jefferies Financial Group

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

Other analysts also recently issued research reports about the company. Bank of America upgraded Hudbay Minerals from a neutral rating to a buy rating and set a $9.00 target price on the stock in a research note on Tuesday, April 9th. Raymond James upped their target price on Hudbay Minerals from $9.00 to $10.50 and gave the stock an outperform rating in a research note on Wednesday, March 20th. StockNews.com upgraded Hudbay Minerals from a hold rating to a buy rating in a research note on Friday, March 29th. Finally, Stifel Nicolaus started coverage on Hudbay Minerals in a research report on Tuesday, March 26th. They set a buy rating on the stock. One analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $10.21.

Hudbay Minerals Stock Performance

Hudbay Minerals stock traded up $0.05 during trading hours 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 debt-to-equity ratio of 0.61, a current ratio of 1.25 and a quick ratio of 0.87. The firm’s 50 day moving average price is $7.15 and its 200-day moving average price is $5.76. The stock has a market capitalization of $2.94 billion, a price-to-earnings ratio of 41.85, a P/E/G ratio of 0.90 and a beta of 1.88. Hudbay Minerals has a 1 year low of $3.94 and a 1 year high of $8.85.

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

Hudbay Minerals Cuts Dividend

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

Hedge Funds Weigh In On Hudbay Minerals

A number of hedge funds have recently made changes to their positions in the company. Donald Smith & CO. Inc. increased its holdings in shares of Hudbay Minerals by 475.3% in the fourth quarter. Donald Smith & CO. Inc. now owns 4,602,687 shares of the mining company’s stock valued at $25,407,000 after purchasing an additional 3,802,687 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd acquired a new stake in shares of Hudbay Minerals in the fourth quarter valued at approximately $14,618,000. Invesco Ltd. increased its holdings in shares of Hudbay Minerals by 60.2% in the third quarter. Invesco Ltd. now owns 6,998,581 shares of the mining company’s stock valued at $34,083,000 after purchasing an additional 2,630,780 shares during the last quarter. L1 Capital Pty Ltd increased its holdings in shares of Hudbay Minerals by 15.1% in the third quarter. L1 Capital Pty Ltd now owns 16,299,356 shares of the mining company’s stock valued at $79,378,000 after purchasing an additional 2,141,437 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Hudbay Minerals by 28.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,375,985 shares of the mining company’s stock valued at $51,836,000 after purchasing an additional 2,085,641 shares during the last quarter. Institutional investors and hedge funds 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.