BMO Capital Markets Initiates Coverage on Hudbay Minerals (NYSE:HBM)

BMO Capital Markets initiated coverage on shares of Hudbay Minerals (NYSE:HBM - Free Report) TSE: HBM in a research report sent to investors on Wednesday morning, MarketBeat reports. The brokerage issued an outperform rating on the mining company's stock.

A number of other analysts also recently weighed in on HBM. StockNews.com raised shares of Hudbay Minerals from a "hold" rating to a "buy" rating in a report on Friday, February 7th. Stifel Canada raised Hudbay Minerals to a "strong-buy" rating in a report on Wednesday, March 19th. Finally, Desjardins assumed coverage on Hudbay Minerals in a report on Friday, April 4th. They set a "buy" rating for the company. Four investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, Hudbay Minerals currently has an average rating of "Buy" and a consensus price target of $14.00.

Hudbay Minerals Price Performance

Hudbay Minerals stock traded down $0.02 during mid-day trading on Wednesday, reaching $7.04. 6,438,641 shares of the company were exchanged, compared to its average volume of 4,723,310. The firm has a market cap of $2.78 billion, a PE ratio of 39.12 and a beta of 1.62. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.86 and a quick ratio of 1.47. The company has a fifty day simple moving average of $7.48 and a 200-day simple moving average of $8.38. Hudbay Minerals has a 12 month low of $5.95 and a 12 month high of $10.49.

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

Hudbay Minerals Increases Dividend

The business also recently announced 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 represents a dividend yield of 0.2%. The ex-dividend date was Tuesday, March 4th. This is a boost from Hudbay Minerals's previous semi-annual dividend of $0.01. Hudbay Minerals's payout ratio is presently 5.56%.

Institutional Investors Weigh In On Hudbay Minerals

Hedge funds have recently modified their holdings of the company. Tower Research Capital LLC TRC raised its position in Hudbay Minerals by 9,877.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,093 shares of the mining company's stock valued at $25,000 after purchasing an additional 3,062 shares during the last quarter. Algert Global LLC acquired a new position in shares of Hudbay Minerals in the fourth quarter valued at approximately $86,000. Plato Investment Management Ltd bought a new position in Hudbay Minerals in the 4th quarter valued at approximately $95,000. Hsbc Holdings PLC acquired a new stake in Hudbay Minerals during the 4th quarter worth approximately $97,000. Finally, Advisory Services Network LLC bought a new stake in Hudbay Minerals during the 4th quarter worth approximately $101,000. Institutional investors and hedge funds own 57.82% of the company's stock.

About Hudbay Minerals

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.