Hudbay Minerals (NYSE:HBM) Shares Gap Down to $7.65

Hudbay Minerals Inc. (NYSE:HBM - Get Free Report) TSE: HBM shares gapped down before the market opened on Tuesday . The stock had previously closed at $7.65, but opened at $7.42. Hudbay Minerals shares last traded at $7.35, with a volume of 683,050 shares.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. StockNews.com raised Hudbay Minerals from a "hold" rating to a "buy" rating in a report on Friday, March 29th. Stifel Nicolaus assumed coverage on Hudbay Minerals in a report on Tuesday, March 26th. They set a "buy" rating on the stock. Raymond James increased their price objective on Hudbay Minerals from $9.00 to $10.50 and gave the stock an "outperform" rating in a report on Wednesday, March 20th. Finally, Bank of America raised Hudbay Minerals from a "neutral" rating to a "buy" rating and set a $9.00 price objective on the stock in a report on Tuesday, April 9th. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $9.75.

Hudbay Minerals Price Performance

The firm has a market capitalization of $2.65 billion, a P/E ratio of 37.83, a price-to-earnings-growth ratio of 0.75 and a beta of 1.95. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.87 and a current ratio of 1.25. The business has a 50 day simple moving average of $6.43 and a two-hundred day simple moving average of $5.45.

Hudbay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last announced its quarterly earnings data on Friday, February 23rd. The mining company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.14 by $0.06. The firm had revenue of $602.20 million for the quarter, compared to analyst estimates of $552.74 million. Hudbay Minerals had a return on equity of 3.86% and a net margin of 3.95%. The company's revenue was up 87.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.01 EPS. On average, sell-side analysts expect that Hudbay Minerals Inc. will post 0.44 EPS for the current fiscal year.

Hudbay Minerals Cuts Dividend

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

Hedge Funds Weigh In On Hudbay Minerals

Several institutional investors have recently modified their holdings of the company. Galibier Capital Management Ltd. bought a new position in shares of Hudbay Minerals during the 1st quarter valued at about $12,604,000. Register Financial Advisors LLC bought a new position in shares of Hudbay Minerals during the 1st quarter valued at about $35,000. Counterpoint Mutual Funds LLC bought a new position in shares of Hudbay Minerals during the 1st quarter valued at about $130,000. Ballentine Partners LLC bought a new position in Hudbay Minerals during the 1st quarter worth approximately $85,000. Finally, Banque Cantonale Vaudoise grew its position in Hudbay Minerals by 38.7% during the 1st quarter. Banque Cantonale Vaudoise now owns 6,471 shares of the mining company's stock worth $45,000 after acquiring an additional 1,806 shares during the last quarter. 57.82% of the stock is currently owned by institutional investors.

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.