HudBay Minerals (NYSE:HBM) Shares Gap Down - Time to Sell?

Key Points

• HudBay Minerals shares fell 7.6%, opening at $26.59 versus a prior close of $28.82, amid roughly 629,000 shares traded.
• Analyst sentiment remains generally positive: ten analysts rate the stock Buy and two rate it Hold, producing a “Moderate Buy” consensus and an average price target of $31.33.
• The company reported quarterly EPS of $0.28, beating estimates by $0.02, while revenue rose 17.7% year over year to $631.3 million. HudBay also declared a quarterly dividend of $0.01 per share, a 0.2% yield.

Shares of HudBay Minerals Inc (NYSE:HBM - Get Free Report) TSE: HBM gapped down prior to trading on Thursday . The stock had previously closed at $28.82, but opened at $26.59. HudBay Minerals shares last traded at $26.5340, with a volume of 629,037 shares.

Analyst Ratings Changes

Several equities research analysts recently issued reports on HBM shares. Wall Street Zen lowered shares of HudBay Minerals from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. Weiss Ratings cut shares of HudBay Minerals from a "buy (b)" rating to a "buy (b-)" rating in a research note on Thursday, August 13th. Barclays increased their price target on HudBay Minerals from $30.00 to $32.00 and gave the company an "overweight" rating in a research note on Wednesday, July 15th. Jefferies Financial Group reissued a "buy" rating on shares of HudBay Minerals in a report on Monday, July 6th. Finally, Citigroup restated a "positive" rating on shares of HudBay Minerals in a research report on Wednesday, July 15th. Ten investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $31.33.

HudBay Minerals Trading Down 7.6%

The company has a quick ratio of 1.93, a current ratio of 2.24 and a debt-to-equity ratio of 0.17. The company has a market cap of $11.83 billion, a price-to-earnings ratio of 15.63, a PEG ratio of 0.46 and a beta of 1.54. The firm has a 50 day moving average price of $25.24 and a two-hundred day moving average price of $24.73.

HudBay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last issued its quarterly earnings results on Wednesday, July 29th. The mining company reported $0.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.26 by $0.02. HudBay Minerals had a net margin of 27.48% and a return on equity of 9.47%. The firm had revenue of $631.30 million for the quarter, compared to the consensus estimate of $632.43 million. During the same quarter in the previous year, the company earned $0.19 EPS. The company's revenue for the quarter was up 17.7% on a year-over-year basis. As a group, equities analysts forecast that HudBay Minerals Inc will post 1.51 earnings per share for the current year.

HudBay Minerals Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Tuesday, September 8th will be paid a $0.01 dividend. The ex-dividend date is Tuesday, September 8th. This represents a $0.04 annualized dividend and a dividend yield of 0.2%. HudBay Minerals's dividend payout ratio (DPR) is currently 1.76%.

Institutional Trading of HudBay Minerals

Hedge funds and other institutional investors have recently bought and sold shares of the business. First Trust Advisors LP lifted its holdings in HudBay Minerals by 35.3% during the 1st quarter. First Trust Advisors LP now owns 229,948 shares of the mining company's stock worth $4,814,000 after purchasing an additional 60,025 shares in the last quarter. Bank of America Corp DE increased its position in shares of HudBay Minerals by 53.3% during the first quarter. Bank of America Corp DE now owns 1,883,698 shares of the mining company's stock valued at $39,369,000 after buying an additional 655,308 shares during the period. Goehring & Rozencwajg Associates LLC lifted its holdings in shares of HudBay Minerals by 6.6% in the fourth quarter. Goehring & Rozencwajg Associates LLC now owns 824,951 shares of the mining company's stock worth $16,380,000 after buying an additional 51,387 shares in the last quarter. Ceredex Value Advisors LLC bought a new position in shares of HudBay Minerals in the second quarter valued at approximately $12,458,000. Finally, Royal Bank of Canada grew its stake in HudBay Minerals by 7.8% during the first quarter. Royal Bank of Canada now owns 8,254,831 shares of the mining company's stock valued at $172,526,000 after acquiring an additional 597,422 shares in the last quarter. Institutional investors own 57.82% of the company's stock.

About HudBay Minerals

Hudbay Minerals Inc is a Canadian mining company focused primarily on the exploration, development and operation of copper assets. The company also produces gold, zinc, silver and molybdenum as byproducts or additional products from its mining operations.

Hudbay operates the Constancia open-pit copper-molybdenum mine in southern Peru, along with the nearby Pampacancha satellite deposit. In Manitoba, Canada, the company operates the Lalor polymetallic mine and the Snow Lake processing facilities, which produce copper, zinc, gold and silver.

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