HudBay Minerals Inc. (NYSE:HBM) saw strong trading volume on Wednesday . 244,607 shares were traded during mid-day trading, a decline of 13% from the previous session’s volume of 280,512 shares.The stock last traded at $5.30 and had previously closed at $5.48.

Several research analysts have issued reports on the stock. TD Securities reaffirmed a “hold” rating and issued a $6.50 target price (up from $5.75) on shares of HudBay Minerals in a report on Monday, May 2nd. Canaccord Genuity reaffirmed a “buy” rating and issued a $7.00 target price (down from $7.50) on shares of HudBay Minerals in a report on Monday, May 2nd. Paradigm Capital reaffirmed a “buy” rating and issued a $9.00 target price (up from $7.50) on shares of HudBay Minerals in a report on Thursday, May 5th. National Bank Financial reaffirmed a “sector perform” rating and issued a $5.75 target price (up from $4.00) on shares of HudBay Minerals in a report on Monday, May 2nd. Finally, Zacks Investment Research cut shares of HudBay Minerals from a “buy” rating to a “hold” rating in a report on Tuesday, April 26th. Two analysts have rated the stock with a sell rating, four have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $6.98.

The firm’s market capitalization is $1.25 billion. The stock’s 50 day moving average is $4.71 and its 200 day moving average is $3.64.

HudBay Minerals (NYSE:HBM) last issued its earnings results on Wednesday, May 4th. The mining company reported ($0.07) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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. HudBay Minerals’s quarterly revenue was up 97.0% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.08) EPS. Equities research analysts predict that HudBay Minerals Inc. will post $0.13 EPS for the current fiscal year.

Other hedge funds have recently added to or reduced their stakes in the company. Bank of Montreal Can boosted its stake 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 worth $1,647,000 after buying an additional 112,899 shares in the last quarter. Heathbridge Capital Management Ltd. boosted its stake 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 worth $19,337,000 after buying an additional 819,400 shares in the last quarter. Finally, Letko Brosseau & Associates Inc. boosted its stake 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 worth $90,861,000 after buying an additional 1,902,275 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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