Hudbay Minerals (NYSE:HBM) Shares Up 20.2%

Hudbay Minerals Inc (NYSE:HBM) (TSE:HBM)’s stock price shot up 20.2% during mid-day trading on Wednesday . The stock traded as high as $1.71 and last traded at $2.02, 58,200 shares were traded during trading. A decline of 96% from the average session volume of 1,519,721 shares. The stock had previously closed at $1.68.

Several brokerages recently issued reports on HBM. CIBC reiterated a “buy” rating and set a $6.50 price objective on shares of Hudbay Minerals in a report on Wednesday, February 26th. TD Securities lowered Hudbay Minerals from a “buy” rating to a “hold” rating in a report on Friday, February 21st. Scotiabank upgraded Hudbay Minerals from a “sector perform” rating to a “sector outperform” rating in a report on Tuesday, February 4th. Barclays reiterated a “buy” rating and set a $5.50 price objective on shares of Hudbay Minerals in a report on Sunday, February 23rd. Finally, Royal Bank of Canada cut their price objective on Hudbay Minerals from $6.00 to $5.00 and set a “sector perform” rating for the company in a report on Tuesday, February 25th. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $6.96.

The company has a quick ratio of 1.34, a current ratio of 1.69 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $478.12 million, a price-to-earnings ratio of -1.36 and a beta of 2.95. The company’s 50-day simple moving average is $2.40 and its 200 day simple moving average is $3.32.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last posted its earnings results on Thursday, February 20th. The mining company reported ($0.10) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by ($0.03). The business had revenue of $324.49 million for the quarter, compared to analyst estimates of $301.03 million. Hudbay Minerals had a negative return on equity of 2.61% and a negative net margin of 27.78%. On average, equities analysts expect that Hudbay Minerals Inc will post -0.22 earnings per share for the current fiscal year.

The firm also recently announced a Semi-Annual dividend, which will be paid on Friday, March 27th. Shareholders of record on Tuesday, March 10th will be given a dividend of $0.008 per share. This represents a yield of 0.6%. The ex-dividend date of this dividend is Monday, March 9th. Hudbay Minerals’s payout ratio is -5.26%.

A number of institutional investors have recently bought and sold shares of the business. Millennium Management LLC grew its position in shares of Hudbay Minerals by 422.2% in the third quarter. Millennium Management LLC now owns 233,078 shares of the mining company’s stock valued at $841,000 after purchasing an additional 188,448 shares during the last quarter. CoreCommodity Management LLC grew its position in shares of Hudbay Minerals by 61.0% in the fourth quarter. CoreCommodity Management LLC now owns 331,300 shares of the mining company’s stock valued at $1,375,000 after purchasing an additional 125,500 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in shares of Hudbay Minerals by 27.9% in the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 633,957 shares of the mining company’s stock valued at $2,627,000 after purchasing an additional 138,101 shares during the last quarter. Polygon Management Ltd. acquired a new stake in shares of Hudbay Minerals in the fourth quarter valued at about $563,000. Finally, Credit Suisse AG grew its position in shares of Hudbay Minerals by 81.9% in the fourth quarter. Credit Suisse AG now owns 743,930 shares of the mining company’s stock valued at $3,088,000 after purchasing an additional 335,003 shares during the last quarter. 65.61% of the stock is currently owned by hedge funds and other institutional investors.

Hudbay Minerals Company Profile (NYSE:HBM)

Hudbay Minerals Inc, an integrated 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; and zinc metal. The company owns three polymetallic mines, four ore concentrators, and a zinc production facility in northern Manitoba and Saskatchewan, Canada, as well as in Cusco, Peru; and copper projects in Arizona and Nevada, the United States.

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