Hudbay Minerals (NYSE:HBM) Shares Gap Down to $10.36

Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $10.36, but opened at $9.66. Hudbay Minerals shares last traded at $9.88, with a volume of 1,996,127 shares traded.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Raymond James upped their price objective on Hudbay Minerals from $9.00 to $10.50 and gave the company an “outperform” rating in a research note on Wednesday, March 20th. National Bank Financial raised Hudbay Minerals from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 14th. StockNews.com raised shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a research report on Tuesday. Jefferies Financial Group assumed coverage on shares of Hudbay Minerals in a research report on Friday, May 3rd. They set a “hold” rating and a $13.00 target price on the stock. Finally, Stifel Nicolaus began coverage on shares of Hudbay Minerals in a research report on Tuesday, March 26th. They issued a “buy” rating for the company. One analyst has rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $10.21.

Hudbay Minerals Trading Down 1.8 %

The company has a market capitalization of $3.27 billion, a price-to-earnings ratio of 40.46, a P/E/G ratio of 0.87 and a beta of 1.88. The company has a current ratio of 1.40, a quick ratio of 1.00 and a debt-to-equity ratio of 0.61. The business’s 50 day moving average price is $8.05 and its two-hundred day moving average price is $6.24.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last issued its earnings results on Tuesday, May 14th. The mining company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.13. Hudbay Minerals had a net margin of 4.36% and a return on equity of 6.22%. The firm had revenue of $524.99 million for the quarter, compared to analyst estimates of $463.69 million. On average, equities analysts predict that Hudbay Minerals Inc. will post 0.47 earnings per share for the current fiscal year.

Hudbay Minerals Cuts Dividend

The company also recently announced a semi-annual dividend, which was paid on Friday, March 22nd. Shareholders of record on Tuesday, March 5th were given a $0.0074 dividend. The ex-dividend date of this dividend was Monday, March 4th. This represents a yield of 0.3%. Hudbay Minerals’s dividend payout ratio is presently 4.35%.

Institutional Trading of Hudbay Minerals

Several hedge funds and other institutional investors have recently made changes to their positions in HBM. Register Financial Advisors LLC acquired a new position in Hudbay Minerals during the 1st quarter worth about $35,000. Banque Cantonale Vaudoise boosted its holdings in Hudbay Minerals by 38.7% in the first quarter. Banque Cantonale Vaudoise now owns 6,471 shares of the mining company’s stock valued at $45,000 after acquiring an additional 1,806 shares during the last quarter. Ballentine Partners LLC acquired a new stake in Hudbay Minerals during the 1st quarter valued at approximately $85,000. Bank of Nova Scotia increased its position in Hudbay Minerals by 19.1% during the 3rd quarter. Bank of Nova Scotia now owns 24,843 shares of the mining company’s stock valued at $121,000 after purchasing an additional 3,979 shares during the period. Finally, Shell Asset Management Co. raised its holdings in Hudbay Minerals by 38.6% during the 3rd quarter. Shell Asset Management Co. now owns 26,189 shares of the mining company’s stock worth $128,000 after purchasing an additional 7,300 shares during the last quarter. 57.82% of the stock is currently owned by institutional investors.

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.