HudBay Minerals Inc. (HBM) Shares Up 3.7%
HudBay Minerals Inc. (NYSE:HBM) shares shot up 3.7% on Thursday . The company traded as high as $4.80 and last traded at $4.78, with a volume of 98,297 shares changing hands. The stock had previously closed at $4.61.
A number of research firms have recently weighed in on HBM. TD Securities restated a “hold” rating and issued a $7.50 target price on shares of HudBay Minerals in a report on Thursday, August 4th. RBC Capital Markets restated an “outperform” rating and issued a $8.00 target price (up previously from $7.50) on shares of HudBay Minerals in a report on Wednesday, August 3rd. Barclays PLC restated an “underweight” rating on shares of HudBay Minerals in a report on Wednesday, August 3rd. BMO Capital Markets lowered HudBay Minerals from an “outperform” rating to a “market perform” rating and set a $7.50 target price on the stock. in a report on Tuesday, August 2nd. They noted that the move was a valuation call. Finally, Zacks Investment Research lowered HudBay Minerals from a “hold” rating to a “strong sell” rating in a report on Thursday, July 28th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $7.13.
The firm’s market cap is $1.13 billion. The company has a 50 day moving average price of $4.94 and a 200 day moving average price of $4.03.
HudBay Minerals (NYSE:HBM) last announced 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. During the same quarter in the previous year, the company posted ($0.24) EPS. The company earned $247 million during the quarter, compared to the consensus estimate of $249.18 million. HudBay Minerals’s revenue for the quarter was up 63.7% compared to the same quarter last year. Equities research analysts anticipate that HudBay Minerals Inc. will post $0.08 EPS for the current fiscal year.
The firm also recently declared a semiannual dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 9th will be issued a dividend of $0.0076 per share. The ex-dividend date of this dividend is Wednesday, September 7th. This represents a yield of 0.3%. This is a boost from HudBay Minerals’s previous semiannual dividend of $0.01.
An institutional investor recently raised its position in HudBay Minerals stock. Bank of Montreal Can raised its position in shares of HudBay Minerals Inc. (NYSE:HBM) by 35.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. 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 about 0.18% of HudBay Minerals worth $1,647,000 at the end of the most recent 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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