Hudbay Minerals (NYSE:HBM) Shares Gap Down to $7.67

Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $7.67, but opened at $7.47. Hudbay Minerals shares last traded at $7.67, with a volume of 226,481 shares trading hands.

Analyst Ratings Changes

Several research firms have recently commented on HBM. StockNews.com raised Hudbay Minerals from a “hold” rating to a “buy” rating in a research report on Friday, March 29th. Bank of America raised Hudbay Minerals from a “neutral” rating to a “buy” rating and set a $9.00 target price on the stock in a research report on Tuesday, April 9th. Raymond James upped their target price on Hudbay Minerals from $9.00 to $10.50 and gave the company an “outperform” rating in a research report on Wednesday, March 20th. Finally, Stifel Nicolaus started coverage on Hudbay Minerals in a research note on Tuesday, March 26th. They issued a “buy” rating for the company. Nine equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Hudbay Minerals currently has an average rating of “Buy” and a consensus price target of $9.75.

Hudbay Minerals Stock Up 0.1 %

The firm has a 50 day simple moving average of $6.73 and a two-hundred day simple moving average of $5.58. The company has a quick ratio of 0.87, a current ratio of 1.25 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $2.72 billion, a P/E ratio of 38.70, a PEG ratio of 0.79 and a beta of 1.95.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last released its earnings results on Friday, February 23rd. The mining company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.06. Hudbay Minerals had a return on equity of 3.86% and a net margin of 3.95%. The firm had revenue of $602.20 million during the quarter, compared to analysts’ expectations of $552.74 million. During the same period in the prior year, the company earned $0.01 earnings per share. The company’s quarterly revenue was up 87.5% on a year-over-year basis. On average, equities research analysts expect that Hudbay Minerals Inc. will post 0.42 earnings per share for the current year.

Hudbay Minerals Cuts Dividend

The firm also recently announced a semi-annual dividend, which was paid on Friday, March 22nd. Shareholders of record on Tuesday, March 5th were paid a dividend of $0.0074 per share. This represents a yield of 0.3%. The ex-dividend date was Monday, March 4th. Hudbay Minerals’s payout ratio is presently 5.00%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Banque Cantonale Vaudoise increased its holdings in shares of Hudbay Minerals by 38.7% during the first quarter. Banque Cantonale Vaudoise now owns 6,471 shares of the mining company’s stock worth $45,000 after buying an additional 1,806 shares in the last quarter. Bank of Nova Scotia increased its holdings in shares of Hudbay Minerals by 19.1% during the third quarter. Bank of Nova Scotia now owns 24,843 shares of the mining company’s stock worth $121,000 after buying an additional 3,979 shares in the last quarter. Barclays PLC increased its holdings in shares of Hudbay Minerals by 7.1% during the third quarter. Barclays PLC now owns 63,154 shares of the mining company’s stock worth $308,000 after buying an additional 4,169 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Hudbay Minerals by 6.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 71,641 shares of the mining company’s stock worth $396,000 after buying an additional 4,655 shares in the last quarter. Finally, Register Financial Advisors LLC acquired a new position in shares of Hudbay Minerals during the first quarter worth $35,000. 57.82% of the stock is currently owned by institutional investors and hedge funds.

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.