HudBay Minerals Inc (HBM) Given Average Recommendation of “Hold” by Brokerages

HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) has been assigned a consensus rating of “Hold” from the fourteen research firms that are currently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $9.13.

A number of analysts have weighed in on the stock. J P Morgan Chase & Co upgraded shares of HudBay Minerals from a “neutral” rating to an “overweight” rating in a research report on Tuesday, September 5th. Credit Suisse Group raised their target price on shares of HudBay Minerals from $11.00 to $12.00 and gave the company a “neutral” rating in a research report on Monday, September 11th. BMO Capital Markets raised their target price on shares of HudBay Minerals from $10.50 to $10.75 and gave the company a “market perform” rating in a research report on Monday, October 2nd. ValuEngine lowered shares of HudBay Minerals from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Finally, Raymond James Financial, Inc. restated an “outperform” rating on shares of HudBay Minerals in a research report on Tuesday, August 15th.

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A number of hedge funds have recently added to or reduced their stakes in the stock. Bank of Nova Scotia lifted its holdings in HudBay Minerals by 4.5% in the second quarter. Bank of Nova Scotia now owns 67,126 shares of the mining company’s stock valued at $388,000 after buying an additional 2,894 shares during the period. Russell Investments Group Ltd. lifted its holdings in HudBay Minerals by 0.7% in the second quarter. Russell Investments Group Ltd. now owns 653,800 shares of the mining company’s stock valued at $3,771,000 after buying an additional 4,700 shares during the period. Quantbot Technologies LP lifted its holdings in HudBay Minerals by 37.3% in the second quarter. Quantbot Technologies LP now owns 24,912 shares of the mining company’s stock valued at $143,000 after buying an additional 6,769 shares during the period. Advisors Asset Management Inc. lifted its holdings in HudBay Minerals by 13.3% in the second quarter. Advisors Asset Management Inc. now owns 59,518 shares of the mining company’s stock valued at $342,000 after buying an additional 6,969 shares during the period. Finally, QS Investors LLC lifted its holdings in HudBay Minerals by 12.5% in the second quarter. QS Investors LLC now owns 63,100 shares of the mining company’s stock valued at $363,000 after buying an additional 7,000 shares during the period. Institutional investors and hedge funds own 64.86% of the company’s stock.

Shares of HudBay Minerals (HBM) traded down 0.64% on Friday, hitting $7.80. The stock had a trading volume of 566,691 shares. The firm has a market capitalization of $1.85 billion, a P/E ratio of 251.61 and a beta of 3.21. The company has a 50 day moving average of $7.86 and a 200-day moving average of $6.73. HudBay Minerals has a 12-month low of $3.80 and a 12-month high of $9.35.

The firm also recently declared a Semi-Annual dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 8th were issued a dividend of $0.008 per share. The ex-dividend date was Thursday, September 7th. This represents a dividend yield of 0.22%. HudBay Minerals’s dividend payout ratio (DPR) is presently 50.01%.

About HudBay Minerals

Hudbay Minerals Inc is a Canada-based mining company. The Company is engaged in the production of copper concentrate, consisting of copper, gold and silver, as well as zinc metal. The Company is focused on the discovery, production and marketing of base and precious metals. The Company has assets in North and South America.

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