Brokerages Set Hudbay Minerals Inc. (NYSE:HBM) Price Target at $10.75

Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) has earned a consensus rating of “Buy” from the eight research firms that are covering the firm, Marketbeat reports. Six investment analysts have rated the stock with a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $10.80.

A number of research firms have commented on HBM. Jefferies Financial Group raised shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a research note on Wednesday, August 14th. Stifel Canada raised shares of Hudbay Minerals to a “strong-buy” rating in a research report on Monday, July 22nd. Finally, StockNews.com lowered shares of Hudbay Minerals from a “buy” rating to a “hold” rating in a research report on Tuesday, August 13th.

Hedge Funds Weigh In On Hudbay Minerals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HBM. Regal Partners Ltd acquired a new position in Hudbay Minerals during the second quarter valued at approximately $22,956,000. TD Asset Management Inc increased its position in Hudbay Minerals by 199.4% during the second quarter. TD Asset Management Inc now owns 2,906,301 shares of the mining company’s stock worth $26,294,000 after acquiring an additional 1,935,709 shares during the period. Galibier Capital Management Ltd. bought a new position in Hudbay Minerals during the first quarter worth $12,604,000. Cubist Systematic Strategies LLC increased its position in Hudbay Minerals by 2,521.9% during the second quarter. Cubist Systematic Strategies LLC now owns 1,752,685 shares of the mining company’s stock worth $15,861,000 after acquiring an additional 1,685,836 shares during the period. Finally, Driehaus Capital Management LLC bought a new position in Hudbay Minerals during the second quarter worth $14,718,000. Institutional investors and hedge funds own 57.82% of the company’s stock.

Hudbay Minerals Price Performance

HBM stock opened at $7.56 on Wednesday. The company has a current ratio of 1.86, a quick ratio of 1.49 and a debt-to-equity ratio of 0.47. Hudbay Minerals has a one year low of $3.94 and a one year high of $10.49. The firm has a market capitalization of $2.97 billion, a PE ratio of 32.85 and a beta of 1.77. The firm has a 50-day moving average of $7.85 and a two-hundred day moving average of $8.12.

Hudbay Minerals Cuts Dividend

The company also recently disclosed a Semi-Annual dividend, which will be paid on Friday, September 20th. Investors of record on Tuesday, September 3rd will be issued a $0.007 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a yield of 0.2%. Hudbay Minerals’s dividend payout ratio is currently 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.