Hudbay Minerals Inc. (NYSE:HBM – Get Rating) (TSE:HBM) saw strong trading volume on Friday . 77,153 shares traded hands during trading, a decline of 94% from the previous session’s volume of 1,303,375 shares.The stock last traded at $4.91 and had previously closed at $4.86.
Several equities analysts recently weighed in on HBM shares. Scotiabank reduced their target price on Hudbay Minerals from C$12.50 to C$12.00 in a research report on Wednesday, May 11th. StockNews.com downgraded Hudbay Minerals from a “buy” rating to a “hold” rating in a report on Tuesday, April 19th. Royal Bank of Canada reduced their target price on Hudbay Minerals from C$14.00 to C$12.00 in a report on Wednesday, May 11th. Stifel Nicolaus raised their price target on Hudbay Minerals from C$15.00 to C$16.50 in a report on Thursday, March 17th. Finally, National Bank Financial lowered their price target on Hudbay Minerals from C$12.50 to C$11.50 in a research report on Wednesday, May 11th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $13.25.
The firm has a fifty day simple moving average of $6.11 and a 200-day simple moving average of $7.04. The company has a current ratio of 1.35, a quick ratio of 0.92 and a debt-to-equity ratio of 0.79.
Hudbay Minerals (NYSE:HBM – Get Rating) (TSE:HBM) last released its earnings results on Monday, May 9th. The mining company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.07). Hudbay Minerals had a positive return on equity of 5.27% and a negative net margin of 7.69%. The firm had revenue of $378.62 million for the quarter, compared to the consensus estimate of $402.00 million. Equities analysts expect that Hudbay Minerals Inc. will post 0.63 earnings per share for the current year.
A number of large investors have recently made changes to their positions in the stock. Signaturefd LLC raised its holdings in shares of Hudbay Minerals by 111.3% during the fourth quarter. Signaturefd LLC now owns 5,279 shares of the mining company’s stock valued at $38,000 after purchasing an additional 2,781 shares during the period. Quadrant Capital Group LLC boosted its holdings in Hudbay Minerals by 122.9% in the 4th quarter. Quadrant Capital Group LLC now owns 6,183 shares of the mining company’s stock worth $45,000 after buying an additional 3,409 shares during the period. US Bancorp DE boosted its holdings in Hudbay Minerals by 122.4% in the 1st quarter. US Bancorp DE now owns 7,899 shares of the mining company’s stock worth $62,000 after buying an additional 4,347 shares during the period. CastleKnight Management LP bought a new position in Hudbay Minerals in the 4th quarter valued at $85,000. Finally, Keebeck Alpha LP bought a new position in Hudbay Minerals in the 1st quarter valued at $104,000. 67.11% of the stock is currently owned by institutional investors and hedge funds.
About Hudbay Minerals (NYSE:HBM)
Hudbay Minerals Inc, a diversified mining company, together with its subsidiaries, focuses on the discovery, production, and marketing of base and precious metals in North and South America. It produces copper concentrates containing copper, gold, and silver; silver/gold doré; molybdenum concentrates; and zinc metals.
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