HudBay Minerals Inc. (HBM) Trading Up 5.6%
HudBay Minerals Inc. (NYSE:HBM) shares were up 5.6% on Monday . The company traded as high as $4.75 and last traded at $4.73, with a volume of 124,838 shares trading hands. The stock had previously closed at $4.48.
A number of research analysts recently weighed in on HBM shares. Royal Bank Of Canada upgraded shares of HudBay Minerals from a “sector perform” rating to an “outperform” rating and set a $7.50 price objective for the company in a report on Monday, May 16th. National Bank Financial reiterated a “sector perform” rating and set a $5.75 price target (up previously from $4.00) on shares of HudBay Minerals in a report on Monday, May 2nd. RBC Capital Markets reiterated an “outperform” rating and set a $8.00 price target (up previously from $7.50) on shares of HudBay Minerals in a report on Wednesday, August 3rd. Zacks Investment Research cut shares of HudBay Minerals from a “hold” rating to a “strong sell” rating in a report on Thursday, July 28th. Finally, Canaccord Genuity reiterated a “buy” rating and set a $7.00 price target (down previously from $7.50) on shares of HudBay Minerals in a report on Monday, May 2nd. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company’s stock. HudBay Minerals currently has a consensus rating of “Hold” and an average price target of $7.13.
The stock’s 50-day moving average is $4.93 and its 200 day moving average is $3.91. The company’s market capitalization is $1.19 billion.
HudBay Minerals (NYSE:HBM) last issued its quarterly earnings data on Wednesday, July 27th. The mining company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by $0.07. During the same quarter in the prior year, the company posted ($0.24) EPS. The company had revenue of $247 million for the quarter, compared to analyst estimates of $249.18 million. The firm’s quarterly revenue was up 63.7% on a year-over-year basis. On average, equities analysts expect that HudBay Minerals Inc. will post $0.08 earnings per share for the current year.
The business also recently disclosed a semiannual dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 9th will be paid a dividend of $0.0076 per share. This represents a dividend yield of 0.3%. The ex-dividend date is Wednesday, September 7th. This is a boost 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 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 SEC filing.
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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