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

Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) gapped down before the market opened 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.

Wall Street Analysts Forecast Growth

HBM has been the subject of several research analyst reports. Bank of America raised Hudbay Minerals from a “neutral” rating to a “buy” rating and set a $9.00 price objective for the company in a research report on Tuesday, April 9th. 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. StockNews.com upgraded Hudbay Minerals from a “hold” rating to a “buy” rating in a research report on Friday, March 29th. Finally, Stifel Nicolaus began coverage on Hudbay Minerals in a research report on Tuesday, March 26th. They set a “buy” rating on the stock. Nine analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $9.75.

Hudbay Minerals Trading Up 1.4 %

The company has a debt-to-equity ratio of 0.61, a current ratio of 1.25 and a quick ratio of 0.87. The company has a market capitalization of $2.73 billion, a price-to-earnings ratio of 38.35, a P/E/G ratio of 0.79 and a beta of 1.95. The business’s 50-day moving average price is $6.63 and its two-hundred day moving average price is $5.54.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last announced its quarterly earnings data on Friday, February 23rd. The mining company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.06. Hudbay Minerals had a net margin of 3.95% and a return on equity of 3.86%. The firm had revenue of $602.20 million for the quarter, compared to analyst estimates of $552.74 million. During the same quarter in the prior year, the business earned $0.01 earnings per share. The business’s quarterly revenue was up 87.5% compared to the same quarter last year. Research analysts predict that Hudbay Minerals Inc. will post 0.42 earnings per share for the current year.

Hudbay Minerals Cuts Dividend

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

Hedge Funds Weigh In On Hudbay Minerals

Large investors have recently added to or reduced their stakes in the business. Galibier Capital Management Ltd. purchased a new position in shares of Hudbay Minerals during the first quarter valued at about $12,604,000. Register Financial Advisors LLC bought a new position in shares of Hudbay Minerals in the first quarter worth approximately $35,000. Counterpoint Mutual Funds LLC bought a new position in shares of Hudbay Minerals in the first quarter worth approximately $130,000. Ballentine Partners LLC bought a new position in Hudbay Minerals during the first quarter valued at approximately $85,000. Finally, Banque Cantonale Vaudoise lifted its position in Hudbay Minerals by 38.7% during the first quarter. Banque Cantonale Vaudoise now owns 6,471 shares of the mining company’s stock valued at $45,000 after purchasing an additional 1,806 shares during the period. Hedge funds and other institutional investors own 57.82% of the company’s stock.

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.