HudBay Minerals Inc. (HBM) Trading Down 2.5%
HudBay Minerals Inc. (NYSE:HBM)’s share price fell 2.5% during trading on Wednesday . The company traded as low as $4.61 and last traded at $4.67, with a volume of 78,050 shares. The stock had previously closed at $4.79.
A number of research firms recently commented on HBM. TD Securities reaffirmed a “hold” rating and issued a $6.50 price objective (up previously from $5.75) on shares of HudBay Minerals in a research note on Monday, May 2nd. Barclays PLC reissued an “underweight” rating on shares of HudBay Minerals in a research note on Wednesday, August 3rd. Canaccord Genuity reissued a “buy” rating and set a $7.00 target price (down previously from $7.50) on shares of HudBay Minerals in a research note on Monday, May 2nd. National Bank Financial reissued a “sector perform” rating and set a $5.75 target price (up previously from $4.00) on shares of HudBay Minerals in a research note on Monday, May 2nd. Finally, Zacks Investment Research lowered shares of HudBay Minerals from a “buy” rating to a “hold” rating in a research note on Tuesday, April 26th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company’s stock. HudBay Minerals has an average rating of “Hold” and a consensus price target of $7.13.
The stock’s market cap is $1.13 billion. The company has a 50-day moving average of $4.94 and a 200 day moving average of $4.03.
HudBay Minerals (NYSE:HBM) last issued its quarterly earnings data on Wednesday, July 27th. The mining company reported ($0.02) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by $0.07. During the same period last year, the company earned ($0.24) earnings per share. The firm had revenue of $247 million for the quarter, compared to the consensus estimate of $249.18 million. The firm’s quarterly revenue was up 63.7% compared to the same quarter last year. Analysts expect that HudBay Minerals Inc. will post $0.08 earnings per share for the current fiscal 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 given a dividend of $0.0076 per share. This is a boost 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.
A hedge fund recently raised its stake in HudBay Minerals stock. Connor Clark & Lunn Investment Management Ltd. raised its stake in HudBay Minerals Inc. (NYSE:HBM) by 6.3% during the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 5,151,393 shares of the mining company’s stock after buying an additional 305,823 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 2.19% of HudBay Minerals worth $19,692,000 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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