Hudbay Minerals (NYSE:HBM) Research Coverage Started at Desjardins

Desjardins initiated coverage on shares of Hudbay Minerals (NYSE:HBM) (TSE:HBM) in a research note released on Friday, Marketbeat.com reports. The brokerage issued a buy rating on the mining company’s stock.

A number of other brokerages have also recently issued reports on HBM. Stifel Canada raised shares of Hudbay Minerals to a “strong-buy” rating in a research report on Wednesday, March 19th. StockNews.com raised Hudbay Minerals from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Four analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Hudbay Minerals currently has an average rating of “Buy” and an average price target of $11.50.

Hudbay Minerals Stock Down 11.5 %

HBM stock opened at $6.30 on Friday. The company has a market capitalization of $2.49 billion, a price-to-earnings ratio of 34.97 and a beta of 1.62. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.47 and a current ratio of 1.86. The business’s 50 day moving average price is $7.94 and its two-hundred day moving average price is $8.54. Hudbay Minerals has a fifty-two week low of $6.04 and a fifty-two week high of $10.49.

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

Hudbay Minerals Increases Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Friday, March 21st. Shareholders of record on Tuesday, March 4th were paid a dividend of $0.007 per share. This is a positive change from Hudbay Minerals’s previous semi-annual dividend of $0.01. This represents a yield of 0.2%. The ex-dividend date of this dividend was Tuesday, March 4th. Hudbay Minerals’s dividend payout ratio (DPR) is currently 5.56%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in HBM. Norges Bank purchased a new position in Hudbay Minerals in the 4th quarter worth approximately $50,260,000. Dimensional Fund Advisors LP increased its holdings in shares of Hudbay Minerals by 86.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 9,149,134 shares of the mining company’s stock worth $74,105,000 after purchasing an additional 4,253,400 shares in the last quarter. Price T Rowe Associates Inc. MD bought a new stake in shares of Hudbay Minerals in the 4th quarter worth $17,657,000. American Century Companies Inc. raised its stake in shares of Hudbay Minerals by 102.4% in the fourth quarter. American Century Companies Inc. now owns 4,275,895 shares of the mining company’s stock worth $34,684,000 after purchasing an additional 2,163,000 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in shares of Hudbay Minerals by 111.8% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,777,571 shares of the mining company’s stock valued at $30,602,000 after purchasing an additional 1,994,431 shares in the last quarter. 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.