HudBay Minerals Inc. (HBM) Stock Price Down 2.1%
Shares of HudBay Minerals Inc. (NYSE:HBM) dropped 2.1% on Tuesday . The company traded as low as $4.23 and last traded at $4.24, with a volume of 72,732 shares changing hands. The stock had previously closed at $4.33.
A number of equities analysts have issued reports on HBM shares. Paradigm Capital reissued a “buy” rating and issued a $9.00 price target (up previously from $7.50) on shares of HudBay Minerals in a research note on Thursday, May 5th. TD Securities reissued a “hold” rating and issued a $7.50 price target on shares of HudBay Minerals in a research note on Thursday, August 4th. BMO Capital Markets cut HudBay Minerals from an “outperform” rating to a “market perform” rating and set a $7.50 price target for the company. in a research note on Tuesday, August 2nd. They noted that the move was a valuation call. Credit Suisse Group AG lowered HudBay Minerals from an “outperform” rating to a “neutral” rating in a research report on Thursday, July 28th. Finally, Scotiabank restated an “outperform” rating and set a $8.00 target price on shares of HudBay Minerals in a research report on Thursday, July 28th. Two 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. HudBay Minerals presently has an average rating of “Hold” and a consensus price target of $7.13.
The stock’s market capitalization is $957.92 million. The stock has a 50 day moving average price of $4.81 and a 200-day moving average price of $4.21.
HudBay Minerals (NYSE:HBM) last posted its earnings results on Wednesday, July 27th. The mining company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by $0.07. The company had revenue of $247 million for the quarter, compared to the consensus estimate of $249.18 million. HudBay Minerals’s revenue for the quarter was up 63.7% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.24) EPS. On average, analysts predict that HudBay Minerals Inc. will post $0.08 EPS for the current fiscal year.
The firm also recently announced a semiannual dividend, which will be paid on Friday, September 30th. Investors 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 represents a yield of 0.3%. This is an increase from HudBay Minerals’s previous semiannual dividend of $0.01.
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.