Hudbay Minerals (NYSE:HBM) Stock Price Up 4.2%

Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM)’s stock price shot up 4.2% during trading on Monday . The company traded as high as $8.15 and last traded at $8.15. 448,255 shares traded hands during trading, a decline of 85% from the average session volume of 3,057,326 shares. The stock had previously closed at $7.82.

Analysts Set New Price Targets

Several brokerages recently issued reports on HBM. Stifel Canada raised Hudbay Minerals to a “strong-buy” rating in a research note on Monday, July 22nd. Jefferies Financial Group upgraded shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a report on Wednesday, August 14th. Finally, StockNews.com lowered shares of Hudbay Minerals from a “buy” rating to a “hold” rating in a report on Tuesday, August 13th. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Hudbay Minerals currently has a consensus rating of “Buy” and an average price target of $10.88.

Hudbay Minerals Stock Up 3.5 %

The company’s fifty day simple moving average is $7.73 and its 200-day simple moving average is $8.17. The firm has a market capitalization of $3.18 billion, a PE ratio of 34.00 and a beta of 1.77. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.86 and a quick ratio of 1.49.

Hudbay Minerals Cuts Dividend

The business also recently declared a Semi-Annual dividend, which was paid on Friday, September 20th. Shareholders of record on Tuesday, September 3rd were issued a $0.007 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a dividend yield of 0.2%. Hudbay Minerals’s dividend payout ratio is currently 4.35%.

Institutional Trading of Hudbay Minerals

Several large investors have recently added to or reduced their stakes in HBM. BNP Paribas Financial Markets boosted its position in Hudbay Minerals by 122,794.2% in the fourth quarter. BNP Paribas Financial Markets now owns 126,581 shares of the mining company’s stock valued at $699,000 after buying an additional 126,478 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Hudbay Minerals in the fourth quarter worth $186,000. Trexquant Investment LP acquired a new position in Hudbay Minerals during the fourth quarter valued at $1,502,000. TD Asset Management Inc lifted its position in Hudbay Minerals by 2.8% during the fourth quarter. TD Asset Management Inc now owns 979,801 shares of the mining company’s stock valued at $5,417,000 after purchasing an additional 26,511 shares during the period. Finally, Letko Brosseau & Associates Inc. boosted its holdings in Hudbay Minerals by 0.7% in the fourth quarter. Letko Brosseau & Associates Inc. now owns 16,569,958 shares of the mining company’s stock valued at $91,609,000 after purchasing an additional 114,266 shares during the last quarter. Hedge funds and other institutional investors own 57.82% of the company’s stock.

About Hudbay Minerals

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.