Hudbay Minerals Inc. (NYSE:HBM - Get Free Report) TSE: HBM shot up 10.5% during trading on Tuesday . The stock traded as high as $9.84 and last traded at $9.72. 1,053,275 shares traded hands during mid-day trading, a decline of 55% from the average session volume of 2,339,984 shares. The stock had previously closed at $8.80.
Analysts Set New Price Targets
HBM has been the subject of a number of research reports. Stifel Nicolaus began coverage on Hudbay Minerals in a research report on Tuesday, March 26th. They issued a "buy" rating for the company. Jefferies Financial Group assumed coverage on shares of Hudbay Minerals in a research note on Friday, May 3rd. They set a "hold" rating and a $13.00 price target for the company. StockNews.com cut shares of Hudbay Minerals from a "buy" rating to a "hold" rating in a research note on Monday. Raymond James lifted their target price on shares of 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 upgraded Hudbay Minerals from a "neutral" rating to a "buy" rating and set a $9.00 price target on the stock in a research report on Tuesday, April 9th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $10.21.
Get Our Latest Research Report on Hudbay Minerals
Hudbay Minerals Price Performance
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 $7.48 and a 200 day simple moving average of $5.95. The firm has a market cap of $3.52 billion, a P/E ratio of 49.15, a price-to-earnings-growth ratio of 0.92 and a beta of 1.88.
Hudbay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last released its quarterly earnings data on Friday, February 23rd. The mining company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.14 by $0.06. The company had revenue of $602.20 million during the quarter, compared to the consensus estimate of $552.74 million. Hudbay Minerals had a return on equity of 3.86% and a net margin of 3.95%. Hudbay Minerals's revenue for the quarter was up 87.5% on a year-over-year basis. During the same period last year, the company earned $0.01 EPS. On average, analysts anticipate that Hudbay Minerals Inc. will post 0.41 earnings per share for the current fiscal year.
Hudbay Minerals Cuts Dividend
The business also recently disclosed a semi-annual dividend, which was paid on Friday, March 22nd. Stockholders of record on Tuesday, March 5th were issued 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 currently 5.00%.
Institutional Investors Weigh In On Hudbay Minerals
Hedge funds have recently added to or reduced their stakes in the business. Letko Brosseau & Associates Inc. boosted its holdings in Hudbay Minerals by 0.7% in the 4th quarter. Letko Brosseau & Associates Inc. now owns 16,569,958 shares of the mining company's stock worth $91,609,000 after buying an additional 114,266 shares during the last quarter. L1 Capital Pty Ltd lifted its holdings in Hudbay Minerals by 15.1% during the 3rd quarter. L1 Capital Pty Ltd now owns 16,299,356 shares of the mining company's stock worth $79,378,000 after buying an additional 2,141,437 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Hudbay Minerals by 28.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,375,985 shares of the mining company's stock worth $51,836,000 after buying an additional 2,085,641 shares in the last quarter. Vanguard Group Inc. raised its stake in Hudbay Minerals by 3.2% in the first quarter. Vanguard Group Inc. now owns 8,694,436 shares of the mining company's stock valued at $60,861,000 after buying an additional 272,635 shares in the last quarter. Finally, Invesco Ltd. raised its position in shares of Hudbay Minerals by 60.2% during the 3rd quarter. Invesco Ltd. now owns 6,998,581 shares of the mining company's stock worth $34,083,000 after acquiring an additional 2,630,780 shares in the last quarter. 57.82% of the stock is owned by hedge funds and other institutional investors.
About Hudbay Minerals
(
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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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