Barclays Begins Coverage on Hudbay Minerals (HBM)
Barclays began coverage on shares of Hudbay Minerals (NYSE:HBM) (TSE:HBM) in a research report released on Wednesday morning, The Fly reports. The firm issued an overweight rating and a $8.00 price objective on the mining company’s stock.
A number of other brokerages have also issued reports on HBM. ValuEngine lowered Hudbay Minerals from a hold rating to a sell rating in a research report on Wednesday, June 27th. Zacks Investment Research raised Hudbay Minerals from a sell rating to a hold rating in a research report on Monday, July 23rd. Scotiabank lowered Hudbay Minerals from a focus list rating to an outperform rating in a research report on Monday, June 25th. Credit Suisse Group reaffirmed a neutral rating on shares of Hudbay Minerals in a research report on Monday, September 10th. Finally, Bank of America began coverage on Hudbay Minerals in a research report on Tuesday, August 14th. They set a neutral rating and a $6.00 target price on the stock. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus price target of $8.33.
Shares of Hudbay Minerals stock traded down $0.04 during trading on Wednesday, hitting $4.67. The stock had a trading volume of 474,224 shares, compared to its average volume of 625,987. The company has a quick ratio of 1.70, a current ratio of 2.15 and a debt-to-equity ratio of 0.48. The firm has a market cap of $1.32 billion, a price-to-earnings ratio of 8.19 and a beta of 2.87. Hudbay Minerals has a fifty-two week low of $4.13 and a fifty-two week high of $10.25.
The business also recently announced a semiannual dividend, which was paid on Friday, September 28th. Stockholders of record on Friday, September 7th were given a dividend of $0.0077 per share. This represents a dividend yield of 0.31%. The ex-dividend date of this dividend was Thursday, September 6th. Hudbay Minerals’s dividend payout ratio (DPR) is presently 3.51%.
Institutional investors have recently made changes to their positions in the company. Letko Brosseau & Associates Inc. raised its position in Hudbay Minerals by 0.7% during the second quarter. Letko Brosseau & Associates Inc. now owns 27,618,176 shares of the mining company’s stock valued at $153,895,000 after buying an additional 183,567 shares during the period. Heathbridge Capital Management Ltd. raised its position in Hudbay Minerals by 17.7% during the second quarter. Heathbridge Capital Management Ltd. now owns 4,522,250 shares of the mining company’s stock valued at $25,325,000 after buying an additional 679,900 shares during the period. Allianz Asset Management GmbH raised its position in Hudbay Minerals by 32.1% during the first quarter. Allianz Asset Management GmbH now owns 4,306,119 shares of the mining company’s stock valued at $30,461,000 after buying an additional 1,047,011 shares during the period. Millennium Management LLC raised its position in Hudbay Minerals by 61.4% during the first quarter. Millennium Management LLC now owns 2,052,208 shares of the mining company’s stock valued at $14,571,000 after buying an additional 780,379 shares during the period. Finally, Jennison Associates LLC acquired a new position in Hudbay Minerals during the second quarter valued at $8,944,000. 58.07% of the stock is currently owned by institutional investors.
About Hudbay Minerals
Hudbay Minerals Inc, an integrated mining company, together with its subsidiaries, focuses on the discovery, production, and marketing of base and precious metals in North and South America. It produces copper concentrates containing copper, gold, and silver; and zinc metal. The company owns four polymetallic mines, four ore concentrators, and a zinc production facility in northern Manitoba and Saskatchewan, Canada, as well as in Cusco, Peru; and a copper project in Arizona, the United States.
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