Hudbay Minerals Inc. (NYSE:HBM) Given Average Recommendation of "Buy" by Brokerages

Shares of Hudbay Minerals Inc. (NYSE:HBM - Get Free Report) TSE: HBM have been assigned a consensus recommendation of "Buy" from the six ratings firms that are currently covering the firm, Marketbeat.com reports. Four research analysts have rated the stock with a buy rating and two have issued a strong buy rating on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $11.17.

HBM has been the topic of several research reports. Stifel Canada raised shares of Hudbay Minerals to a "strong-buy" rating in a report on Monday, July 22nd. StockNews.com lowered shares of Hudbay Minerals from a "buy" rating to a "hold" rating in a report on Tuesday, August 13th. Finally, Jefferies Financial Group raised shares of Hudbay Minerals from a "hold" rating to a "buy" rating in a report on Wednesday, August 14th.

Institutional Investors Weigh In On Hudbay Minerals

Several institutional investors have recently bought and sold shares of the company. Van ECK Associates Corp boosted its stake in Hudbay Minerals by 0.4% in the third quarter. Van ECK Associates Corp now owns 451,628 shares of the mining company's stock valued at $4,213,000 after acquiring an additional 1,960 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Hudbay Minerals by 4.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 74,546 shares of the mining company's stock worth $674,000 after buying an additional 2,905 shares during the period. Signaturefd LLC lifted its stake in shares of Hudbay Minerals by 8.1% during the third quarter. Signaturefd LLC now owns 46,555 shares of the mining company's stock worth $428,000 after buying an additional 3,474 shares during the period. Ballentine Partners LLC lifted its stake in shares of Hudbay Minerals by 32.7% during the second quarter. Ballentine Partners LLC now owns 16,171 shares of the mining company's stock worth $146,000 after buying an additional 3,983 shares during the period. Finally, Strong Tower Advisory Services lifted its stake in shares of Hudbay Minerals by 8.0% during the third quarter. Strong Tower Advisory Services now owns 61,842 shares of the mining company's stock worth $568,000 after buying an additional 4,599 shares during the period. 57.82% of the stock is currently owned by institutional investors and hedge funds.

Hudbay Minerals Stock Down 3.8 %

HBM stock traded down $0.35 during trading on Thursday, hitting $8.96. 2,622,089 shares of the company's stock traded hands, compared to its average volume of 3,088,270. The firm has a market capitalization of $3.53 billion, a P/E ratio of 38.96 and a beta of 1.77. The business has a fifty day simple moving average of $8.53 and a two-hundred day simple moving average of $8.60. The company has a quick ratio of 1.49, a current ratio of 1.86 and a debt-to-equity ratio of 0.47. Hudbay Minerals has a 1 year low of $3.94 and a 1 year high of $10.49.

Hudbay Minerals Cuts Dividend

The company also recently announced a Semi-Annual dividend, which was paid on Friday, September 20th. Shareholders of record on Tuesday, September 3rd were paid a $0.007 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a yield of 0.2%. Hudbay Minerals's dividend payout ratio (DPR) is 4.35%.

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.