Hudbay Minerals (NYSE:HBM) Shares Gap Up – Time to Buy?

Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM)’s share price gapped up before the market opened on Monday . The stock had previously closed at $7.73, but opened at $7.98. Hudbay Minerals shares last traded at $7.97, with a volume of 1,071,222 shares changing hands.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Five investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $11.17.

Hudbay Minerals Stock Up 4.3 %

The company’s 50-day moving average price is $8.18 and its 200 day moving average price is $8.49. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.47 and a current ratio of 1.86. The stock has a market cap of $3.18 billion, a PE ratio of 44.70 and a beta of 1.72.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last announced its earnings results on Wednesday, February 19th. The mining company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.02). The business had revenue of $584.90 million for the quarter, compared to analysts’ expectations of $588.28 million. Hudbay Minerals had a net margin of 3.80% and a return on equity of 7.29%. The firm’s quarterly revenue was down 2.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.20 earnings per share. As a group, analysts forecast that Hudbay Minerals Inc. will post 0.79 EPS for the current fiscal year.

Hudbay Minerals Increases Dividend

The company also recently announced a semi-annual dividend, which will be paid on Friday, March 21st. Investors of record on Tuesday, March 4th will be issued a $0.007 dividend. 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 is Tuesday, March 4th. Hudbay Minerals’s dividend payout ratio is currently 5.56%.

Institutional Trading of Hudbay Minerals

Hedge funds and other institutional investors have recently modified their holdings of the company. Prospera Private Wealth LLC bought a new position in Hudbay Minerals in the 3rd quarter worth approximately $28,000. Tower Research Capital LLC TRC increased its holdings in Hudbay Minerals by 9,877.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,093 shares of the mining company’s stock valued at $25,000 after acquiring an additional 3,062 shares during the last quarter. Algert Global LLC purchased a new stake in Hudbay Minerals in the 4th quarter worth $86,000. Plato Investment Management Ltd bought a new position in shares of Hudbay Minerals during the 4th quarter valued at about $95,000. Finally, Hsbc Holdings PLC purchased a new position in shares of Hudbay Minerals during the fourth quarter valued at about $97,000. 57.82% of the stock is owned by hedge funds and other institutional investors.

Hudbay Minerals Company Profile

Hudbay Minerals Inc, a diversified mining company, focuses on the exploration, development, operation, and optimization of properties in North and South America. It produces copper concentrates containing gold, silver, and molybdenum; gold concentrates containing zinc; zinc concentrates; molybdenum concentrates; and silver/gold doré.