HudBay Minerals (NYSE:HBM) Trading Down 4.1% - Time to Sell?

HudBay Minerals Inc (NYSE:HBM - Get Free Report) TSE: HBM was down 4.1% during mid-day trading on Friday . The stock traded as low as $10.39 and last traded at $10.35. Approximately 970,742 shares were traded during 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 a number of research analyst reports. Scotiabank restated an "outperform" rating on shares of HudBay Minerals in a research note on Tuesday, May 13th. Raymond James Financial upgraded shares of HudBay Minerals to a "moderate buy" rating in a research note on Monday, June 30th. Desjardins initiated coverage on shares of HudBay Minerals in a research note on Friday, April 4th. They issued a "buy" rating on the stock. BMO Capital Markets initiated coverage on shares of HudBay Minerals in a research note on Wednesday, April 16th. They issued an "outperform" rating on the stock. Finally, Veritas upgraded shares of HudBay Minerals to a "strong-buy" rating in a research note on Monday, July 7th. Four analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat, HudBay Minerals presently has a consensus rating of "Buy" and an average target price of $14.00.

HudBay Minerals Trading Down 3.0%

The stock's fifty day simple moving average is $9.38 and its 200-day simple moving average is $8.39. The firm has a market cap of $4.14 billion, a PE ratio of 27.55, a PEG ratio of 0.30 and a beta of 1.63. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.32 and a quick ratio of 1.92.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Raymond James Financial Inc. acquired a new stake in shares of HudBay Minerals in the fourth quarter worth $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 buying an additional 14,540 shares during the period. HighTower Advisors LLC grew its position in HudBay Minerals by 13.2% during the fourth quarter. HighTower Advisors LLC now owns 52,042 shares of the mining company's stock valued at $422,000 after buying an additional 6,072 shares during the period. Swiss National Bank grew its position in HudBay Minerals by 0.6% during the fourth quarter. Swiss National Bank now owns 778,500 shares of the mining company's stock valued at $6,312,000 after buying an additional 4,700 shares during the period. Finally, Nikko Asset Management Americas Inc. acquired a new stake in HudBay Minerals during the fourth quarter valued at $335,000. 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.