HudBay Minerals Inc. (HBM) Trading Down 4.2%
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 research reports. Zacks Investment Research lowered HudBay Minerals from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 28th. Royal Bank Of Canada upgraded HudBay Minerals from a “sector perform” rating to an “outperform” rating and set a $7.50 target price for the company in a report on Monday, May 16th. Credit Suisse Group AG lowered HudBay Minerals from an “outperform” rating to a “neutral” rating in a report on Thursday, July 28th. Scotiabank restated an “outperform” rating and issued a $8.00 target price on shares of HudBay Minerals in a report on Thursday, July 28th. Finally, 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. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company. HudBay Minerals has a consensus rating of “Hold” and an average price target of $7.13.
The stock has a 50 day moving average of $4.90 and a 200 day moving average of $4.12. The stock’s market capitalization is $1.03 billion.
HudBay Minerals (NYSE:HBM) last issued its quarterly earnings results on Wednesday, July 27th. The mining company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.05 by $0.07. The business had revenue of $247 million for the quarter, compared to analysts’ expectations of $249.18 million. During the same quarter in the previous year, the business earned ($0.24) earnings per share. HudBay Minerals’s quarterly revenue was up 63.7% on a year-over-year basis. Equities research analysts predict that HudBay Minerals Inc. will post $0.08 EPS for the current year.
The firm 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 dividend of $0.0076 per share. The ex-dividend date is Wednesday, September 7th. This is a positive change from HudBay Minerals’s previous semiannual dividend of $0.01. This represents a yield of 0.3%.
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 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 about 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.
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