Hudbay Minerals Inc (TSE:HBM) (NYSE:HBM) has received an average rating of “Buy” from the eleven brokerages that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is C$7.98.
HBM has been the subject of several recent research reports. Haywood Securities lowered their price objective on shares of Hudbay Minerals from C$9.00 to C$8.00 in a research note on Tuesday, August 6th. Cormark lowered their price objective on shares of Hudbay Minerals from C$11.50 to C$9.00 in a research note on Tuesday, July 23rd. National Bank Financial lowered their price objective on shares of Hudbay Minerals from C$9.00 to C$6.00 and set an “outperform” rating for the company in a research note on Monday. Royal Bank of Canada lowered their price objective on shares of Hudbay Minerals from C$9.00 to C$8.00 in a research note on Friday, August 2nd. Finally, Eight Capital lowered their price objective on shares of Hudbay Minerals from C$11.00 to C$9.00 in a research note on Friday, August 2nd.
In other news, insider Waterton Global Resource Management, Inc. purchased 500,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 10th. The stock was bought at an average price of C$6.57 per share, for a total transaction of C$3,284,358.00. Following the completion of the purchase, the insider now directly owns 17,324,844 shares of the company’s stock, valued at C$113,801,979.98.
The company also recently declared a Semi-Annual dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 6th will be paid a $0.01 dividend. The ex-dividend date of this dividend is Thursday, September 5th. Hudbay Minerals’s dividend payout ratio is currently 13.08%.
Hudbay Minerals Company Profile
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 three polymetallic mines, four ore concentrators, and a zinc production facility in northern Manitoba and Saskatchewan, Canada, as well as in Cusco, Peru; and copper projects in Arizona and Nevada, the United States.
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