HudBay Minerals Inc. (NYSE:HBM)’s share price dropped 2.7% on Wednesday . The company traded as low as $4.70 and last traded at $4.77, with a volume of 124,744 shares traded. The stock had previously closed at $4.90.

HBM has been the subject of a number of recent analyst reports. Paradigm Capital reaffirmed a “buy” rating and issued a $9.00 price objective (up previously from $7.50) on shares of HudBay Minerals in a research note on Thursday, May 5th. Canaccord Genuity reiterated a “buy” rating and issued a $7.50 target price (up from $5.00) on shares of HudBay Minerals in a research report on Tuesday, March 22nd. Zacks Investment Research upgraded HudBay Minerals from a “hold” rating to a “buy” rating and set a $4.50 target price on the stock in a research report on Monday, March 21st. TD Securities reiterated a “hold” rating and issued a $6.50 target price (up from $5.75) on shares of HudBay Minerals in a research report on Monday, May 2nd. Finally, Royal Bank Of Canada upgraded HudBay Minerals from a “sector perform” rating to an “outperform” rating and set a $7.50 target price on the stock in a research report on Monday, May 16th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $6.98.

The stock’s 50 day moving average price is $4.51 and its 200 day moving average price is $3.58. The company’s market cap is $1.13 billion.

HudBay Minerals (NYSE:HBM) last released its quarterly earnings data on Wednesday, May 4th. The mining company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by $0.04. The business had revenue of $253.60 million for the quarter, compared to the consensus estimate of $289.20 million. During the same period in the previous year, the company earned ($0.08) EPS. HudBay Minerals’s quarterly revenue was up 97.0% compared to the same quarter last year. Analysts predict that HudBay Minerals Inc. will post $0.13 EPS for the current year.

A number of institutional investors recently added to or reduced their stakes in the stock. Letko Brosseau & Associates Inc. increased its position in HudBay Minerals by 8.7% in the fourth quarter. Letko Brosseau & Associates Inc. now owns 23,682,044 shares of the mining company’s stock valued at $90,861,000 after buying an additional 1,902,275 shares in the last quarter. TD Asset Management Inc. increased its position in HudBay Minerals by 24.8% in the fourth quarter. TD Asset Management Inc. now owns 5,341,659 shares of the mining company’s stock valued at $20,419,000 after buying an additional 1,062,476 shares in the last quarter. Heathbridge Capital Management Ltd. increased its position in HudBay Minerals by 21.0% in the fourth quarter. Heathbridge Capital Management Ltd. now owns 4,712,900 shares of the mining company’s stock valued at $19,337,000 after buying an additional 819,400 shares in the last quarter. Finally, Bank of Montreal Can increased its position in HudBay Minerals by 35.5% in the fourth quarter. Bank of Montreal Can now owns 431,266 shares of the mining company’s stock valued at $1,647,000 after buying an additional 112,899 shares in the last quarter.

HudBay Minerals Inc is a Canada-based mining company. The Company is engaged in the production of copper concentrate, consisting of copper, gold and silver, as well as zinc metal. The Company is focused on the discovery, production and marketing of base and precious metals. The Company has assets in North and South America.

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