Shares of HudBay Minerals Inc. (NYSE:HBM) dropped 4.2% on Wednesday . The stock traded as low as $4.49 and last traded at $4.53, with a volume of 262,298 shares traded. The stock had previously closed at $4.73.

HBM has been the subject of several recent research reports. Credit Suisse Group AG downgraded shares of HudBay Minerals from an “outperform” rating to a “neutral” rating in a research note on Thursday, July 28th. Scotiabank reissued an “outperform” rating and issued a $8.00 price target on shares of HudBay Minerals in a research note on Thursday, July 28th. BMO Capital Markets downgraded shares of HudBay Minerals from an “outperform” rating to a “market perform” rating and set a $7.50 price target for the company. in a research note on Tuesday, August 2nd. They noted that the move was a valuation call. Royal Bank Of Canada raised shares of HudBay Minerals from a “sector perform” rating to an “outperform” rating and set a $7.50 price target for the company in a research note on Monday, May 16th. Finally, Canaccord Genuity reissued a “buy” rating and issued a $7.00 price target (down from $7.50) on shares of HudBay Minerals in a research note on Monday, May 2nd. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the stock. HudBay Minerals currently has a consensus rating of “Hold” and a consensus target price of $7.13.

The stock has a 50-day moving average price of $4.92 and a 200-day moving average price of $4.12. The company’s market capitalization is $1.04 billion.

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. The business had revenue of $247 million for the quarter, compared to the consensus estimate of $249.18 million. During the same quarter in the prior year, the company posted ($0.24) EPS. The business’s revenue was up 63.7% compared to the same quarter last year. On average, analysts anticipate that HudBay Minerals Inc. will post $0.08 EPS 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 issued a $0.0076 dividend. The ex-dividend date is Wednesday, September 7th. This represents a yield of 0.3%. This is a positive change from HudBay Minerals’s previous semiannual dividend of $0.01.

A hedge fund recently raised its stake in HudBay Minerals stock. Bank of Montreal Can raised its position in HudBay Minerals Inc. (NYSE:HBM) by 35.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor 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 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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