Hudbay Minerals (NYSE:HBM) Shares Gap Up to $7.61

Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) shares gapped up prior to trading on Tuesday . The stock had previously closed at $7.61, but opened at $7.82. Hudbay Minerals shares last traded at $8.11, with a volume of 34,076 shares.

HBM has been the subject of several research analyst reports. Bank of America raised shares of Hudbay Minerals from an “underperform” rating to a “buy” rating and boosted their target price for the stock from $10.60 to $12.20 in a research report on Tuesday. Stifel Nicolaus boosted their target price on shares of Hudbay Minerals from $12.00 to $13.25 and gave the stock a “buy” rating in a research report on Wednesday, March 31st. Royal Bank of Canada raised shares of Hudbay Minerals from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, March 31st. CIBC boosted their target price on shares of Hudbay Minerals from $10.75 to $13.00 and gave the stock an “outperform” rating in a research report on Monday, March 1st. Finally, Raymond James raised shares of Hudbay Minerals from a “market perform” rating to an “outperform” rating in a report on Tuesday. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $11.20.

The company’s fifty day moving average price is $7.18 and its 200 day moving average price is $6.19. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.81 and a current ratio of 2.21. The firm has a market capitalization of $2.07 billion, a price-to-earnings ratio of -13.41 and a beta of 2.57.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last posted its earnings results on Thursday, February 18th. The mining company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.02. The firm had revenue of $322.29 million during the quarter, compared to analyst estimates of $289.07 million. Hudbay Minerals had a negative net margin of 14.02% and a negative return on equity of 7.32%. As a group, sell-side analysts expect that Hudbay Minerals Inc. will post -0.49 earnings per share for the current year.

The company also recently announced a semi-annual dividend, which was paid on Friday, March 26th. Shareholders of record on Tuesday, March 9th were paid a dividend of $0.0079 per share. This represents a yield of 0.2%. This is a positive change from Hudbay Minerals’s previous semi-annual dividend of $0.01. The ex-dividend date of this dividend was Monday, March 8th.

A number of institutional investors have recently bought and sold shares of HBM. Morgan Stanley boosted its stake in Hudbay Minerals by 233.9% during the 4th quarter. Morgan Stanley now owns 2,498,140 shares of the mining company’s stock valued at $17,487,000 after purchasing an additional 1,750,052 shares during the period. Barometer Capital Management Inc. acquired a new position in Hudbay Minerals during the 4th quarter valued at about $8,376,000. Norges Bank acquired a new position in Hudbay Minerals during the 4th quarter valued at about $5,717,000. Matarin Capital Management LLC acquired a new position in Hudbay Minerals during the 3rd quarter valued at about $1,565,000. Finally, ETF Managers Group LLC lifted its stake in shares of Hudbay Minerals by 26.2% in the 4th quarter. ETF Managers Group LLC now owns 1,774,007 shares of the mining company’s stock worth $12,578,000 after acquiring an additional 368,397 shares during the period. 67.37% of the stock is owned by hedge funds and other institutional investors.

Hudbay Minerals Company Profile (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; molybdenum concentrates; and zinc metals.

Featured Story: Net Margin – Understanding the Different Kinds of Profit

Receive News & Ratings for Hudbay Minerals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hudbay Minerals and related companies with MarketBeat.com's FREE daily email newsletter.