HudBay Minerals (NYSE:HBM) Trading Down 4.1% - What's Next?

Shares of HudBay Minerals Inc (NYSE:HBM - Get Free Report) TSE: HBM dropped 4.1% on Friday . The company traded as low as $10.39 and last traded at $10.35. Approximately 970,742 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 5,557,098 shares. The stock had previously closed at $10.79.

Analysts Set New Price Targets

HBM has been the topic of several recent research reports. BMO Capital Markets initiated coverage on shares of HudBay Minerals in a research report on Wednesday, April 16th. They issued an "outperform" rating on the stock. Veritas upgraded shares of HudBay Minerals to a "strong-buy" rating in a research report on Monday, July 7th. Scotiabank reaffirmed an "outperform" rating on shares of HudBay Minerals in a research note on Tuesday, May 13th. Wall Street Zen upgraded HudBay Minerals from a "buy" rating to a "strong-buy" rating in a report on Saturday, June 21st. Finally, Stifel Canada raised HudBay Minerals to a "strong-buy" rating in a report on Wednesday, March 19th. Four investment analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Buy".

HudBay Minerals Trading Down 0.0%

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 firm has a market cap of $4.14 billion, a price-to-earnings ratio of 27.57, a price-to-earnings-growth ratio of 0.29 and a beta of 1.63. The business's 50-day moving average price is $9.38 and its two-hundred day moving average price is $8.39.

HudBay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last released its earnings results on Monday, May 12th. The mining company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.14. HudBay Minerals had a return on equity of 8.17% and a net margin of 7.40%. The firm had revenue of $594.90 million for the quarter, compared to the consensus estimate of $537.36 million. During the same period in the prior year, the business posted $0.22 earnings per share. The firm's revenue for the quarter was up 13.3% compared to the same quarter last year. Equities analysts expect that HudBay Minerals Inc will post 0.79 earnings per share for the current year.

Institutional Trading of HudBay Minerals

Institutional investors and hedge funds have recently made changes to their positions in the company. Tower Research Capital LLC TRC raised its stake in shares of HudBay Minerals by 9,877.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,093 shares of the mining company's stock valued at $25,000 after acquiring an additional 3,062 shares during the period. SBI Securities Co. Ltd. raised its holdings in HudBay Minerals by 64.6% in the first quarter. SBI Securities Co. Ltd. now owns 3,773 shares of the mining company's stock valued at $29,000 after acquiring an additional 1,481 shares in the last quarter. Banque Cantonale Vaudoise bought a new position in shares of HudBay Minerals during the first quarter worth about $33,000. Jones Financial Companies Lllp boosted its holdings in HudBay Minerals by 131.6% in the first quarter. Jones Financial Companies Lllp now owns 6,570 shares of the mining company's stock worth $50,000 after purchasing an additional 3,733 shares during the period. Finally, Algert Global LLC bought a new position in shares of HudBay Minerals during the fourth quarter valued at approximately $86,000. 57.82% of the stock is currently 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.