HudBay Minerals (NYSE:HBM) Stock Price Down 7.4% – Time to Sell?

HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) shares were down 7.4% during mid-day trading on Monday . The stock traded as low as $25.88 and last traded at $26.22. Approximately 1,442,256 shares changed hands during mid-day trading, a decline of 78% from the average daily volume of 6,511,044 shares. The stock had previously closed at $28.33.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on HBM shares. Wall Street Zen downgraded shares of HudBay Minerals from a “buy” rating to a “hold” rating in a research note on Sunday. UBS Group initiated coverage on HudBay Minerals in a research report on Thursday, January 8th. They issued a “buy” rating on the stock. Scotiabank reissued an “outperform” rating on shares of HudBay Minerals in a report on Monday, January 26th. Weiss Ratings raised HudBay Minerals from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, February 10th. Finally, Citigroup boosted their target price on HudBay Minerals from $23.00 to $32.50 and gave the stock a “buy” rating in a research report on Wednesday, February 11th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $26.00.

HudBay Minerals Trading Down 6.0%

The stock has a 50 day simple moving average of $23.71 and a 200-day simple moving average of $18.17. The firm has a market capitalization of $10.56 billion, a P/E ratio of 18.56, a P/E/G ratio of 0.39 and a beta of 1.27. The company has a current ratio of 0.95, a quick ratio of 0.78 and a debt-to-equity ratio of 0.18.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last posted its quarterly earnings data on Friday, February 20th. The mining company reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.18). HudBay Minerals had a return on equity of 8.91% and a net margin of 25.71%.The business had revenue of $732.90 million during the quarter, compared to analysts’ expectations of $730.13 million. During the same period in the previous year, the business posted $0.18 EPS. The business’s quarterly revenue was up 25.3% compared to the same quarter last year. On average, equities research analysts forecast that HudBay Minerals Inc will post 0.79 EPS for the current fiscal year.

HudBay Minerals Announces Dividend

The business also recently disclosed a dividend, which will be paid on Friday, March 27th. Stockholders of record on Tuesday, March 10th will be paid a $0.01 dividend. This represents a dividend yield of 8.0%. The ex-dividend date is Tuesday, March 10th. HudBay Minerals’s dividend payout ratio is 0.70%.

Institutional Trading of HudBay Minerals

Several hedge funds have recently bought and sold shares of HBM. Allworth Financial LP lifted its position in shares of HudBay Minerals by 107.9% during the 3rd quarter. Allworth Financial LP now owns 1,990 shares of the mining company’s stock valued at $30,000 after buying an additional 1,033 shares in the last quarter. Quarry LP purchased a new position in HudBay Minerals during the third quarter valued at approximately $38,000. Global Retirement Partners LLC bought a new position in shares of HudBay Minerals in the third quarter worth approximately $45,000. IFP Advisors Inc purchased a new stake in shares of HudBay Minerals in the third quarter worth $45,000. Finally, Banque Cantonale Vaudoise raised its position in shares of HudBay Minerals by 513.5% during the 3rd quarter. Banque Cantonale Vaudoise now owns 3,172 shares of the mining company’s stock valued at $48,000 after purchasing an additional 2,655 shares during the period. Institutional investors own 57.82% of the company’s stock.

About HudBay Minerals

HudBay Minerals Inc is a Canada-based mining company engaged in the exploration, development and production of base and precious metals. Its primary products include copper, zinc, gold and silver concentrates, which are sold to smelters and refiners worldwide. The company’s operations span multiple stages of the mining cycle, from resource definition and feasibility studies to mine construction, extraction and reclamation.

The company traces its roots back to 1927, when it was established as Hudson Bay Mining & Smelting Co Limited.