Hudbay Minerals Inc. (NYSE:HBM – Get Rating) (TSE:HBM) shares shot up 3.5% on Friday . The company traded as high as $3.56 and last traded at $3.56. 37,823 shares changed hands during trading, a decline of 98% from the average session volume of 1,679,956 shares. The stock had previously closed at $3.44.
Analyst Ratings Changes
A number of brokerages have weighed in on HBM. Canaccord Genuity Group decreased their target price on shares of Hudbay Minerals from C$11.50 to C$9.50 in a research note on Thursday, July 14th. Stifel Nicolaus decreased their target price on shares of Hudbay Minerals from C$16.50 to C$12.00 in a research note on Tuesday, July 19th. CIBC reduced their price objective on Hudbay Minerals from C$14.00 to C$11.50 in a research note on Wednesday, May 18th. Raymond James upped their price objective on Hudbay Minerals from C$13.00 to C$14.00 in a research note on Wednesday, April 20th. Finally, Scotiabank reduced their price objective on Hudbay Minerals from C$10.00 to C$7.50 in a research note on Thursday, July 7th. Two investment analysts have rated the stock with a hold rating and six have assigned 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 $12.06.
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The company has a market cap of $879.95 million, a P/E ratio of -7.30, a P/E/G ratio of 0.33 and a beta of 2.15. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.92 and a current ratio of 1.35. The firm's fifty day moving average is $4.74 and its two-hundred day moving average is $6.50.
Hudbay Minerals (NYSE:HBM – Get Rating) (TSE:HBM) last issued its 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). The firm had revenue of $378.62 million during the quarter, compared to the consensus estimate of $402.00 million. Hudbay Minerals had a positive return on equity of 5.27% and a negative net margin of 7.69%. As a group, analysts anticipate that Hudbay Minerals Inc. will post 0.4 earnings per share for the current fiscal year.Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Belvedere Trading LLC boosted its holdings in shares of Hudbay Minerals by 36.8% during the 2nd quarter. Belvedere Trading LLC now owns 34,350 shares of the mining company's stock valued at $122,000 after purchasing an additional 9,249 shares during the last quarter. Galibier Capital Management Ltd. boosted its holdings in shares of Hudbay Minerals by 27.1% during the 2nd quarter. Galibier Capital Management Ltd. now owns 590,100 shares of the mining company's stock valued at $2,402,000 after purchasing an additional 126,000 shares during the last quarter. Condire Management LP boosted its holdings in shares of Hudbay Minerals by 0.6% during the 1st quarter. Condire Management LP now owns 4,273,919 shares of the mining company's stock valued at $33,550,000 after purchasing an additional 23,782 shares during the last quarter. Neuberger Berman Group LLC boosted its holdings in shares of Hudbay Minerals by 45.5% during the 1st quarter. Neuberger Berman Group LLC now owns 85,441 shares of the mining company's stock valued at $672,000 after purchasing an additional 26,734 shares during the last quarter. Finally, BNP Paribas Arbitrage SA boosted its holdings in shares of Hudbay Minerals by 258.8% during the 1st quarter. BNP Paribas Arbitrage SA now owns 232,040 shares of the mining company's stock valued at $1,822,000 after purchasing an additional 167,362 shares during the last quarter. Institutional investors own 67.11% of the company's stock.
Hudbay Minerals Company Profile
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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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