Hudbay Minerals Inc (NYSE:HBM) (TSE:HBM) dropped 1.6% on Wednesday . The stock traded as low as $4.35 and last traded at $4.57. Approximately 45,145 shares changed hands during trading, a decline of 90% from the average daily volume of 446,938 shares. The stock had previously closed at $4.50.
HBM has been the topic of several analyst reports. ValuEngine upgraded Hudbay Minerals from a “strong sell” rating to a “sell” rating in a research report on Tuesday, August 7th. Zacks Investment Research lowered Hudbay Minerals from a “hold” rating to a “sell” rating in a report on Thursday, July 5th. Scotiabank lowered Hudbay Minerals from a “focus list” rating to an “outperform” rating in a report on Monday, June 25th. Finally, Bank of America started coverage on Hudbay Minerals in a report on Tuesday, August 14th. They set a “neutral” rating and a $6.00 price objective for the company. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $9.94.
The company has a debt-to-equity ratio of 0.48, a current ratio of 2.15 and a quick ratio of 1.70. The firm has a market capitalization of $1.23 billion, a P/E ratio of 7.63 and a beta of 2.96.
Hudbay Minerals (NYSE:HBM) (TSE:HBM) last issued its quarterly earnings data on Tuesday, July 31st. The mining company reported $0.09 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.13 by ($0.04). Hudbay Minerals had a return on equity of 8.66% and a net margin of 13.40%. The business had revenue of $371.29 million for the quarter, compared to analysts’ expectations of $386.00 million. analysts anticipate that Hudbay Minerals Inc will post 0.4 earnings per share for the current fiscal year.
The firm also recently disclosed a semiannual dividend, which will be paid on Friday, September 28th. Stockholders of record on Friday, September 7th will be issued a dividend of $0.0077 per share. This represents a dividend yield of 0.31%. The ex-dividend date is Thursday, September 6th. Hudbay Minerals’s payout ratio is 3.51%.
Hedge funds and other institutional investors have recently modified their holdings of the company. Regal Investment Advisors LLC purchased a new stake in Hudbay Minerals in the second quarter worth approximately $139,000. Neuberger Berman Group LLC boosted its stake in Hudbay Minerals by 78.7% in the first quarter. Neuberger Berman Group LLC now owns 19,794 shares of the mining company’s stock worth $140,000 after buying an additional 8,718 shares in the last quarter. BlackRock Inc. boosted its stake in Hudbay Minerals by 131.1% in the second quarter. BlackRock Inc. now owns 35,456 shares of the mining company’s stock worth $199,000 after buying an additional 20,113 shares in the last quarter. Quantitative Systematic Strategies LLC purchased a new stake in Hudbay Minerals in the second quarter worth approximately $228,000. Finally, Quantbot Technologies LP purchased a new stake in Hudbay Minerals in the first quarter worth approximately $235,000. 58.06% of the stock is owned by institutional investors.
Hudbay Minerals Company Profile (NYSE:HBM)
Hudbay Minerals Inc, an integrated mining company, together with its subsidiaries, focuses on the discovery, production, and marketing of base and precious metals in North and South America. It produces copper concentrates containing copper, gold, and silver; and zinc metal. The company owns four polymetallic mines, four ore concentrators, and a zinc production facility in northern Manitoba and Saskatchewan, Canada, as well as in Cusco, Peru; and a copper project in Arizona, the United States.
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