Hudbay Minerals Target of Unusually Large Options Trading (NYSE:HBM)

Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) was the recipient of some unusual options trading on Monday. Stock traders acquired 6,775 call options on the stock. This is an increase of approximately 1,707% compared to the typical daily volume of 375 call options.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Bank of America upgraded Hudbay Minerals from a “neutral” rating to a “buy” rating and set a $9.00 target price for the company in a report on Tuesday, April 9th. Raymond James upped their target price on Hudbay Minerals from $9.00 to $10.50 and gave the stock an “outperform” rating in a report on Wednesday, March 20th. StockNews.com upgraded Hudbay Minerals from a “hold” rating to a “buy” rating in a research note on Friday, March 29th. Finally, Stifel Nicolaus started coverage on Hudbay Minerals in a research note on Tuesday, March 26th. They issued a “buy” rating for the company. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $9.75.

Institutional Trading of Hudbay Minerals

A number of hedge funds have recently added to or reduced their stakes in the stock. Galibier Capital Management Ltd. increased its stake in Hudbay Minerals by 43.5% in the 3rd quarter. Galibier Capital Management Ltd. now owns 516,942 shares of the mining company’s stock valued at $2,527,000 after purchasing an additional 156,700 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Hudbay Minerals by 23.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 66,986 shares of the mining company’s stock worth $327,000 after purchasing an additional 12,748 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Hudbay Minerals by 6.9% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,290,344 shares of the mining company’s stock worth $35,643,000 after purchasing an additional 467,872 shares during the last quarter. TD Asset Management Inc boosted its holdings in shares of Hudbay Minerals by 9.0% during the third quarter. TD Asset Management Inc now owns 953,290 shares of the mining company’s stock worth $4,661,000 after purchasing an additional 78,493 shares during the last quarter. Finally, CIBC Asset Management Inc boosted its holdings in shares of Hudbay Minerals by 60.3% during the third quarter. CIBC Asset Management Inc now owns 344,750 shares of the mining company’s stock worth $1,683,000 after purchasing an additional 129,733 shares during the last quarter. 57.82% of the stock is owned by institutional investors and hedge funds.

Hudbay Minerals Trading Up 1.6 %

Shares of HBM stock traded up $0.14 on Monday, hitting $8.77. The stock had a trading volume of 1,591,441 shares, compared to its average volume of 2,300,718. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.25 and a quick ratio of 0.87. The firm has a market capitalization of $3.08 billion, a P/E ratio of 43.75, a P/E/G ratio of 0.95 and a beta of 1.95. Hudbay Minerals has a 1 year low of $3.94 and a 1 year high of $8.81. The company’s 50 day moving average price is $6.85 and its 200-day moving average price is $5.64.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last issued its quarterly earnings results on Friday, February 23rd. The mining company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.06. The company had revenue of $602.20 million for the quarter, compared to the consensus estimate of $552.74 million. Hudbay Minerals had a return on equity of 3.86% and a net margin of 3.95%. Hudbay Minerals’s revenue was up 87.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.01 EPS. Analysts anticipate that Hudbay Minerals will post 0.39 earnings per share for the current year.

Hudbay Minerals Cuts Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Friday, March 22nd. Shareholders of record on Tuesday, March 5th were given a dividend of $0.0074 per share. The ex-dividend date was Monday, March 4th. This represents a yield of 0.3%. Hudbay Minerals’s payout ratio is 5.00%.

Hudbay Minerals Company Profile

Hudbay Minerals Inc, a diversified mining company, focuses on the exploration, development, operation, and optimization of properties in North and South America. It produces copper concentrates containing gold, silver, and molybdenum; gold concentrates containing zinc; zinc concentrates; molybdenum concentrates; and silver/gold doré.