HudBay Minerals (NYSE:HBM) Shares Down 3.8% - Should You Sell?

HudBay Minerals Inc (NYSE:HBM - Get Free Report) TSE: HBM's share price was down 3.8% during trading on Thursday . The company traded as low as $9.74 and last traded at $9.74. Approximately 2,798,217 shares were traded during mid-day trading, a decline of 50% from the average daily volume of 5,607,848 shares. The stock had previously closed at $10.12.

Analyst Upgrades and Downgrades

HBM has been the topic of a number of recent research reports. Raymond James Financial upgraded HudBay Minerals to a "moderate buy" rating in a report on Monday, June 30th. Stifel Canada upgraded shares of HudBay Minerals to a "strong-buy" rating in a report on Wednesday, March 19th. Desjardins assumed coverage on HudBay Minerals in a research note on Friday, April 4th. They set a "buy" rating for the company. Veritas raised HudBay Minerals to a "strong-buy" rating in a research note on Monday, July 7th. Finally, CIBC reaffirmed an "outperform" rating on shares of HudBay Minerals in a report on Tuesday. Five investment analysts have rated the stock with a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, HudBay Minerals presently has a consensus rating of "Buy".

HudBay Minerals Stock Performance

The company has a debt-to-equity ratio of 0.42, a current ratio of 2.32 and a quick ratio of 1.92. The company has a 50 day simple moving average of $9.55 and a 200-day simple moving average of $8.43. The stock has a market capitalization of $3.88 billion, a P/E ratio of 25.80, a price-to-earnings-growth ratio of 0.29 and a beta of 1.63.

HudBay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last announced its quarterly earnings data on Monday, May 12th. The mining company reported $0.24 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.10 by $0.14. The business had revenue of $594.90 million for the quarter, compared to analysts' expectations of $537.36 million. HudBay Minerals had a return on equity of 8.17% and a net margin of 7.40%. The firm's quarterly revenue was up 13.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.22 EPS. On average, equities analysts forecast that HudBay Minerals Inc will post 0.79 EPS for the current year.

Institutional Trading of HudBay Minerals

Institutional investors have recently added to or reduced their stakes in the stock. Raymond James Financial Inc. purchased a new stake in HudBay Minerals during the fourth quarter valued at about $183,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in HudBay Minerals by 16.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 104,344 shares of the mining company's stock valued at $846,000 after acquiring an additional 14,540 shares during the last quarter. HighTower Advisors LLC raised its stake in shares of HudBay Minerals by 13.2% during the fourth quarter. HighTower Advisors LLC now owns 52,042 shares of the mining company's stock worth $422,000 after acquiring an additional 6,072 shares in the last quarter. Swiss National Bank lifted its holdings in shares of HudBay Minerals by 0.6% in the 4th quarter. Swiss National Bank now owns 778,500 shares of the mining company's stock worth $6,312,000 after acquiring an additional 4,700 shares during the last quarter. Finally, Magnetar Financial LLC purchased a new stake in shares of HudBay Minerals in the 4th quarter valued at $477,000. Hedge funds and other institutional investors own 57.82% of the company's stock.

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.

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