Hudbay Minerals (NYSE:HBM) Trading Down 9.9%

Hudbay Minerals Inc. (NYSE:HBMGet Rating) (TSE:HBM)’s stock price fell 9.9% on Friday . The company traded as low as $3.72 and last traded at $3.72. 76,344 shares were traded during trading, a decline of 92% from the average session volume of 1,000,780 shares. The stock had previously closed at $4.13.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on HBM. TheStreet downgraded shares of Hudbay Minerals from a “c-” rating to a “d” rating in a research note on Friday, August 19th. Canaccord Genuity Group cut their target price on shares of Hudbay Minerals from C$11.50 to C$9.50 in a research note on Thursday, July 14th. Scotiabank cut their target price on shares of Hudbay Minerals from C$10.00 to C$7.50 in a research note on Thursday, July 7th. Barclays raised shares of Hudbay Minerals from an “equal weight” rating to an “overweight” rating in a report on Tuesday, July 19th. Finally, National Bank Financial lowered shares of Hudbay Minerals from an “outperform” rating to a “sector perform” rating in a report on Tuesday, July 19th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Hudbay Minerals has an average rating of “Moderate Buy” and a consensus price target of $10.28.

Hudbay Minerals Price Performance

The company has a market capitalization of $992.56 million, a P/E ratio of -11.39, a P/E/G ratio of 0.67 and a beta of 1.92. The business’s 50-day simple moving average is $4.08 and its 200 day simple moving average is $5.42. The company has a current ratio of 1.41, a quick ratio of 0.97 and a debt-to-equity ratio of 0.77.

Hudbay Minerals Dividend Announcement

The business also recently declared a Semi-Annual dividend, which will be paid on Friday, September 23rd. Shareholders of record on Friday, September 2nd will be given a dividend of $0.008 per share. The ex-dividend date is Thursday, September 1st. This represents a dividend yield of 0.3%. Hudbay Minerals’s dividend payout ratio (DPR) is -6.06%.

Institutional Trading of Hudbay Minerals

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Prelude Capital Management LLC grew its stake in shares of Hudbay Minerals by 20.6% in the 2nd quarter. Prelude Capital Management LLC now owns 53,689 shares of the mining company’s stock worth $219,000 after purchasing an additional 9,170 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Hudbay Minerals by 3.1% in the 2nd quarter. Goldman Sachs Group Inc. now owns 353,856 shares of the mining company’s stock worth $1,444,000 after purchasing an additional 10,640 shares during the last quarter. Macquarie Group Ltd. grew its stake in shares of Hudbay Minerals by 63.3% in the 2nd quarter. Macquarie Group Ltd. now owns 2,001,715 shares of the mining company’s stock worth $8,167,000 after purchasing an additional 775,740 shares during the last quarter. CastleKnight Management LP grew its stake in shares of Hudbay Minerals by 69.8% in the 2nd quarter. CastleKnight Management LP now owns 123,800 shares of the mining company’s stock worth $505,000 after purchasing an additional 50,900 shares during the last quarter. Finally, Creative Planning grew its stake in shares of Hudbay Minerals by 64.1% in the 2nd quarter. Creative Planning now owns 16,409 shares of the mining company’s stock worth $67,000 after purchasing an additional 6,409 shares during the last quarter. 66.69% of the stock is currently owned by institutional investors.

About Hudbay Minerals

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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.

Further Reading

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