Hudbay Minerals Inc. (NYSE:HBM – Get Rating) (TSE:HBM)’s share price was down 7.4% during trading on Friday after Scotiabank lowered their price target on the stock from C$10.00 to C$7.50. The stock traded as low as $3.76 and last traded at $3.76. Approximately 15,732 shares were traded during trading, a decline of 99% from the average daily volume of 1,358,740 shares. The stock had previously closed at $4.06.
HBM has been the subject of several other research reports. National Bank Financial decreased their price target on shares of Hudbay Minerals from C$12.50 to C$11.50 in a report on Wednesday, May 11th. Raymond James boosted their price target on shares of Hudbay Minerals from C$13.00 to C$14.00 in a report on Wednesday, April 20th. Royal Bank of Canada decreased their price target on shares of Hudbay Minerals from C$14.00 to C$12.00 in a report on Wednesday, May 11th. Stifel Nicolaus boosted their price target on shares of Hudbay Minerals from C$15.00 to C$16.50 in a report on Thursday, March 17th. Finally, CIBC decreased their price target on shares of Hudbay Minerals from C$14.00 to C$11.50 in a report on Wednesday, May 18th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Hudbay Minerals presently has a consensus rating of “Moderate Buy” and an average target price of $12.80.
Hedge funds have recently modified their holdings of the company. Signaturefd LLC grew its position in shares of Hudbay Minerals by 111.3% during the 4th quarter. Signaturefd LLC now owns 5,279 shares of the mining company’s stock worth $38,000 after purchasing an additional 2,781 shares in the last quarter. Quadrant Capital Group LLC raised its stake in shares of Hudbay Minerals by 122.9% during the fourth quarter. Quadrant Capital Group LLC now owns 6,183 shares of the mining company’s stock valued at $45,000 after acquiring an additional 3,409 shares during the last quarter. US Bancorp DE raised its stake in Hudbay Minerals by 122.4% during the first 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 last quarter. CastleKnight Management LP bought a new stake in Hudbay Minerals in the fourth quarter valued at $85,000. Finally, Keebeck Alpha LP bought a new stake in Hudbay Minerals in the first quarter valued at $104,000. 67.11% of the stock is currently owned by institutional investors.
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The firm has a market capitalization of $974.23 million, a PE ratio of -8.13, a PEG ratio of 0.23 and a beta of 2.15. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.35 and a quick ratio of 0.92. The firm’s fifty day moving average is $5.28 and its two-hundred day moving average is $6.79.
Hudbay Minerals (NYSE:HBM – Get Rating) (TSE:HBM) last announced its quarterly earnings results on Monday, May 9th. The mining company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.07). Hudbay Minerals had a negative net margin of 7.69% and a positive return on equity of 5.27%. The firm had revenue of $378.62 million for the quarter, compared to analysts’ expectations of $402.00 million. As a group, equities research analysts predict that Hudbay Minerals Inc. will post 0.6 EPS for the current fiscal year.
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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