HudBay Minerals (NYSE:HBM) Stock Price Down 6.3% - Here's What Happened

Key Points

• HudBay Minerals' stock price dropped 6.3% on Tuesday, trading between $13.00 and $13.31, with a trading volume of over 8.2 million shares, up 15% from its average.
• Despite the decline in stock price, various analysts have given HudBay Minerals a positive outlook, with two strong buy ratings and a general average rating of "Buy."
• The company recently increased its semi-annual dividend to $0.0073 per share, reflecting a yield of 17.0%, marking an increase from the previous dividend of $0.01.

Shares of HudBay Minerals Inc (NYSE:HBM - Get Free Report) TSE: HBM fell 6.3% on Tuesday . The company traded as low as $13.00 and last traded at $13.31. 8,299,699 shares were traded during trading, an increase of 15% from the average session volume of 7,205,651 shares. The stock had previously closed at $14.21.

Analyst Ratings Changes

A number of brokerages recently weighed in on HBM. National Bankshares reaffirmed an "outperform" rating on shares of HudBay Minerals in a report on Thursday, August 14th. Wall Street Zen raised HudBay Minerals from a "buy" rating to a "strong-buy" rating in a report on Wednesday, September 10th. Veritas raised HudBay Minerals to a "strong-buy" rating in a report on Monday, July 7th. The Goldman Sachs Group began coverage on HudBay Minerals in a report on Monday, September 8th. They set a "buy" rating on the stock. Finally, Raymond James Financial raised HudBay Minerals to a "moderate buy" rating in a report on Monday, June 30th. Two equities research analysts have rated the stock with a Strong Buy rating and seven have issued a Buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Buy".

HudBay Minerals Trading Down 5.5%

The company has a current ratio of 1.03, a quick ratio of 0.86 and a debt-to-equity ratio of 0.20. The business has a 50 day simple moving average of $11.25 and a two-hundred day simple moving average of $9.44. The stock has a market cap of $5.32 billion, a price-to-earnings ratio of 18.40, a price-to-earnings-growth ratio of 0.33 and a beta of 1.51.

HudBay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last posted its quarterly earnings data on Wednesday, August 13th. The mining company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.08. The company had revenue of $536.40 million for the quarter, compared to the consensus estimate of $558.21 million. HudBay Minerals had a return on equity of 10.73% and a net margin of 13.13%.HudBay Minerals's quarterly revenue was up 26.1% compared to the same quarter last year. As a group, equities analysts anticipate that HudBay Minerals Inc will post 0.79 EPS for the current year.

HudBay Minerals Increases Dividend

The firm also recently announced a semi-annual dividend, which was paid on Friday, September 19th. Shareholders of record on Tuesday, September 2nd were paid a dividend of $0.0073 per share. This represents a yield of 17.0%. The ex-dividend date of this dividend was Tuesday, September 2nd. This is an increase from HudBay Minerals's previous semi-annual dividend of $0.01. HudBay Minerals's dividend payout ratio (DPR) is presently 1.37%.

Institutional Trading of HudBay Minerals

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Sumitomo Mitsui Trust Group Inc. raised its position in shares of HudBay Minerals by 142.8% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 100,303 shares of the mining company's stock worth $761,000 after purchasing an additional 58,999 shares during the period. Yaupon Capital Management LP grew its stake in HudBay Minerals by 21.9% in the first quarter. Yaupon Capital Management LP now owns 1,777,347 shares of the mining company's stock valued at $13,490,000 after purchasing an additional 318,991 shares in the last quarter. Millennium Management LLC grew its stake in HudBay Minerals by 298.5% in the first quarter. Millennium Management LLC now owns 6,115,053 shares of the mining company's stock valued at $46,411,000 after purchasing an additional 4,580,718 shares in the last quarter. Anson Funds Management LP purchased a new position in HudBay Minerals in the first quarter valued at about $759,000. Finally, Cetera Investment Advisers grew its stake in HudBay Minerals by 24.3% in the fourth quarter. Cetera Investment Advisers now owns 19,224 shares of the mining company's stock valued at $156,000 after purchasing an additional 3,760 shares in the last quarter. 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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