Hudbay Minerals (NYSE:HBM) Trading Down 3.6%

Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM)’s stock price dropped 3.6% on Monday . The company traded as low as $9.31 and last traded at $9.39. Approximately 1,187,789 shares changed hands during trading, a decline of 58% from the average daily volume of 2,812,410 shares. The stock had previously closed at $9.74.

Analyst Upgrades and Downgrades

Several research firms have recently commented on HBM. Jefferies Financial Group assumed coverage on shares of Hudbay Minerals in a report on Friday, May 3rd. They issued a “hold” rating and a $13.00 price target for the company. Bank of America raised Hudbay Minerals from a “neutral” rating to a “buy” rating and set a $9.00 price target on the stock in a report on Tuesday, April 9th. National Bank Financial upgraded Hudbay Minerals from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 14th. StockNews.com upgraded Hudbay Minerals from a “hold” rating to a “buy” rating in a research note on Tuesday, May 21st. Finally, Stifel Nicolaus began coverage on shares of Hudbay Minerals in a research report on Tuesday, March 26th. They set a “buy” rating for the company. One research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $10.21.

Hudbay Minerals Trading Up 0.6 %

The business’s 50 day moving average is $9.23 and its two-hundred day moving average is $7.32. The company has a quick ratio of 1.00, a current ratio of 1.40 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $3.67 billion, a P/E ratio of 40.50 and a beta of 1.82.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last issued its quarterly earnings data 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 business had revenue of $524.99 million for the quarter, compared to analysts’ expectations of $463.69 million. Analysts expect that Hudbay Minerals Inc. will post 0.6 EPS for the current year.

Institutional Investors Weigh In On Hudbay Minerals

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Letko Brosseau & Associates Inc. raised its position in shares of Hudbay Minerals by 0.7% during the fourth quarter. Letko Brosseau & Associates Inc. now owns 16,569,958 shares of the mining company’s stock worth $91,609,000 after purchasing an additional 114,266 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Hudbay Minerals by 28.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,375,985 shares of the mining company’s stock worth $51,836,000 after purchasing an additional 2,085,641 shares during the period. Vanguard Group Inc. raised its position in shares of Hudbay Minerals by 3.2% during the first quarter. Vanguard Group Inc. now owns 8,694,436 shares of the mining company’s stock worth $60,861,000 after purchasing an additional 272,635 shares during the period. Mackenzie Financial Corp raised its position in shares of Hudbay Minerals by 33.8% during the fourth quarter. Mackenzie Financial Corp now owns 5,014,948 shares of the mining company’s stock worth $27,604,000 after purchasing an additional 1,266,717 shares during the period. Finally, Donald Smith & CO. Inc. raised its position in shares of Hudbay Minerals by 475.3% during the fourth quarter. Donald Smith & CO. Inc. now owns 4,602,687 shares of the mining company’s stock worth $25,407,000 after purchasing an additional 3,802,687 shares during the period. 57.82% of the stock is owned by institutional investors and hedge funds.

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.