HudBay Minerals Inc. (HBM) Trading 3.7% Higher
HudBay Minerals Inc. (NYSE:HBM)’s share price traded up 3.7% during trading on Thursday . The stock traded as high as $4.80 and last traded at $4.78, with a volume of 98,297 shares. The stock had previously closed at $4.61.
Several equities analysts have recently commented on the stock. Scotiabank restated an “outperform” rating and set a $8.00 price target on shares of HudBay Minerals in a research report on Thursday, July 28th. Zacks Investment Research lowered shares of HudBay Minerals from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 28th. BMO Capital Markets lowered shares of HudBay Minerals from an “outperform” rating to a “market perform” rating and set a $7.50 target price for the company. in a research report on Tuesday, August 2nd. They noted that the move was a valuation call. National Bank Financial reiterated a “sector perform” rating and issued a $5.75 target price (up previously from $4.00) on shares of HudBay Minerals in a research report on Monday, May 2nd. Finally, TD Securities reiterated a “hold” rating and issued a $6.50 target price (up previously from $5.75) on shares of HudBay Minerals in a research report on Monday, May 2nd. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $7.13.
The firm’s 50-day moving average is $4.93 and its 200-day moving average is $4.05. The firm’s market capitalization is $1.12 billion.
HudBay Minerals (NYSE:HBM) last announced its quarterly earnings data on Wednesday, July 27th. The mining company reported ($0.02) EPS for the quarter, missing the Zacks’ consensus estimate of $0.05 by $0.07. During the same period last year, the firm posted ($0.24) EPS. The company earned $247 million during the quarter, compared to analysts’ expectations of $249.18 million. The firm’s revenue for the quarter was up 63.7% on a year-over-year basis. Equities research analysts expect that HudBay Minerals Inc. will post $0.08 earnings per share for the current year.
The company also recently disclosed a semiannual dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 9th will be given a $0.0076 dividend. This is a positive change from HudBay Minerals’s previous semiannual dividend of $0.01. The ex-dividend date of this dividend is Wednesday, September 7th. This represents a yield of 0.3%.
An institutional investor recently raised its position in HudBay Minerals stock. Bank of Montreal Can boosted 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 Securities and Exchange Commission (SEC). The firm 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 reporting period.
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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