HudBay Minerals Inc. (HBM) Shares Gap Up to $4.94
HudBay Minerals Inc. (NYSE:HBM) gapped up before the market opened on Wednesday . The stock had previously closed at $4.91, but opened at $4.94. HudBay Minerals shares last traded at $5.00, with a volume of 160,280 shares.
HBM has been the topic of a number of research analyst reports. Paradigm Capital restated a “buy” rating and set a $9.00 price target (up previously from $7.50) on shares of HudBay Minerals in a research note on Thursday, May 5th. Canaccord Genuity restated a “buy” rating and set a $7.00 price target (down previously from $7.50) on shares of HudBay Minerals in a research note on Monday, May 2nd. Zacks Investment Research lowered HudBay Minerals from a “buy” rating to a “hold” rating in a research note on Tuesday, April 26th. TD Securities restated a “hold” rating and set a $6.50 price target (up previously from $5.75) on shares of HudBay Minerals in a research note on Monday, May 2nd. Finally, BMO Capital Markets lowered HudBay Minerals from an “outperform” rating to a “market perform” rating and set a $7.50 price target on the stock. in a research note on Tuesday, August 2nd. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $7.13.
The company has a 50 day moving average of $4.93 and a 200-day moving average of $3.92. The company’s market cap is $1.17 billion.
HudBay Minerals (NYSE:HBM) last posted its quarterly earnings results on Wednesday, July 27th. The mining company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by $0.07. The business earned $247 million during the quarter, compared to the consensus estimate of $249.18 million. During the same quarter in the prior year, the company earned ($0.24) earnings per share. HudBay Minerals’s quarterly revenue was up 63.7% compared to the same quarter last year. Equities research analysts forecast that HudBay Minerals Inc. will post $0.08 earnings per share for the current year.
The business also recently declared a semiannual dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 9th will be given a $0.0076 dividend. This represents a yield of 0.3%. This is a positive change from HudBay Minerals’s previous semiannual dividend of $0.01. The ex-dividend date is Wednesday, September 7th.
A hedge fund recently raised its stake in HudBay Minerals stock. Bank of Montreal Can raised its stake in HudBay Minerals Inc. (NYSE:HBM) by 35.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 431,266 shares of the mining company’s stock after buying an additional 112,899 shares during the period. Bank of Montreal Can owned 0.18% of HudBay Minerals worth $1,647,000 as of its most recent filing with the SEC.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.