Hudbay Minerals (NYSE:HBM) Shares Gap Up to $9.66

Shares of Hudbay Minerals Inc. (NYSE:HBM - Get Free Report) TSE: HBM gapped up prior to trading on Friday . The stock had previously closed at $9.66, but opened at $9.99. Hudbay Minerals shares last traded at $9.88, with a volume of 1,151,336 shares.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on HBM. National Bank Financial raised Hudbay Minerals from a "hold" rating to a "strong-buy" rating in a report on Tuesday. Raymond James raised their target price on shares of Hudbay Minerals from $9.00 to $10.50 and gave the stock an "outperform" rating in a research note on Wednesday, March 20th. Stifel Nicolaus started coverage on Hudbay Minerals in a research report on Tuesday, March 26th. They issued a "buy" rating for the company. Jefferies Financial Group initiated coverage on Hudbay Minerals in a research report on Friday, May 3rd. They set a "hold" rating and a $13.00 price objective on the stock. Finally, StockNews.com cut Hudbay Minerals from a "buy" rating to a "hold" rating in a report on Monday. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Hudbay Minerals has an average rating of "Moderate Buy" and a consensus price target of $10.21.

Hudbay Minerals Price Performance

The company has a fifty day moving average of $7.70 and a 200-day moving average of $6.05. The company has a current ratio of 1.25, a quick ratio of 0.87 and a debt-to-equity ratio of 0.61. The stock has a market cap of $3.60 billion, a PE ratio of 44.57, a P/E/G ratio of 1.05 and a beta of 1.88.

Hudbay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last issued its quarterly earnings results on Tuesday, May 14th. The mining company reported $0.16 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.03 by $0.13. The company had revenue of $524.99 million for the quarter, compared to analyst estimates of $463.69 million. Hudbay Minerals had a net margin of 4.36% and a return on equity of 6.26%. Sell-side analysts expect that Hudbay Minerals Inc. will post 0.41 EPS for the current fiscal year.

Hudbay Minerals Cuts Dividend

The firm also recently declared a semi-annual dividend, which was paid on Friday, March 22nd. Shareholders of record on Tuesday, March 5th were given a $0.0074 dividend. The ex-dividend date of this dividend was Monday, March 4th. This represents a yield of 0.3%. Hudbay Minerals's dividend payout ratio is presently 4.35%.

Institutional Trading of Hudbay Minerals

A number of large investors have recently modified their holdings of HBM. Banque Cantonale Vaudoise grew its holdings 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 in the last quarter. Bank of Nova Scotia increased its holdings in Hudbay Minerals by 19.1% in the third quarter. Bank of Nova Scotia now owns 24,843 shares of the mining company's stock valued at $121,000 after buying an additional 3,979 shares during the last quarter. Barclays PLC raised its stake in Hudbay Minerals by 7.1% in the third quarter. Barclays PLC now owns 63,154 shares of the mining company's stock valued at $308,000 after buying an additional 4,169 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Hudbay Minerals by 6.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 71,641 shares of the mining company's stock worth $396,000 after buying an additional 4,655 shares during the last quarter. Finally, Register Financial Advisors LLC acquired a new position in shares of Hudbay Minerals during the 1st quarter worth about $35,000. Hedge funds and other institutional investors own 57.82% of the company's stock.

About Hudbay Minerals

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.