HudBay Minerals Inc. (HBM) Trading Down 2.5%
HudBay Minerals Inc. (NYSE:HBM) was down 2.5% during mid-day trading on Wednesday . The company traded as low as $4.61 and last traded at $4.67, with a volume of 78,050 shares changing hands. The stock had previously closed at $4.79.
A number of equities research analysts recently issued reports on HBM shares. CIBC restated a “sector perform” rating and issued a $5.75 price objective on shares of HudBay Minerals in a research note on Saturday, April 23rd. Zacks Investment Research lowered HudBay Minerals from a “hold” rating to a “strong sell” rating in a report on Thursday, July 28th. Royal Bank Of Canada raised 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. Scotiabank reaffirmed an “outperform” rating and set a $8.00 target price on shares of HudBay Minerals in a report on Thursday, July 28th. Finally, Credit Suisse Group AG lowered HudBay Minerals from an “outperform” rating to a “neutral” rating in a report on Thursday, July 28th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $7.13.
The stock’s market capitalization is $1.09 billion. The stock has a 50 day moving average of $4.93 and a 200 day moving average of $4.02.
HudBay Minerals (NYSE:HBM) last posted its earnings results 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 last year, the company posted ($0.24) earnings per share. The business earned $247 million during the quarter, compared to the consensus estimate of $249.18 million. The business’s revenue for the quarter was up 63.7% compared to the same quarter last year. On average, equities research analysts expect that HudBay Minerals Inc. will post $0.08 EPS for the current year.
The business also recently disclosed a semiannual dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 9th will be paid a $0.0076 dividend. This is an increase from HudBay Minerals’s previous semiannual dividend of $0.01. This represents a dividend yield of 0.3%. The ex-dividend date of this dividend is Wednesday, September 7th.
An institutional investor recently raised its position in HudBay Minerals stock. Bank of Montreal Can increased its stake in HudBay Minerals Inc. (NYSE:HBM) by 35.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. 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 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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