Hudbay Minerals (NYSE:HBM) Shares Gap Up to $8.08

Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $8.08, but opened at $8.53. Hudbay Minerals shares last traded at $8.63, with a volume of 1,664,271 shares traded.

Analyst Ratings Changes

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

Hudbay Minerals Price Performance

The company has a current ratio of 1.86, a quick ratio of 1.49 and a debt-to-equity ratio of 0.47. The company’s 50 day moving average is $7.71 and its 200-day moving average is $8.18. The stock has a market cap of $3.45 billion, a PE ratio of 37.39 and a beta of 1.77.

Hudbay Minerals Cuts Dividend

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

Institutional Trading of Hudbay Minerals

Institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets increased its stake in Hudbay Minerals by 122,794.2% during the fourth quarter. BNP Paribas Financial Markets now owns 126,581 shares of the mining company’s stock valued at $699,000 after purchasing an additional 126,478 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Hudbay Minerals in the fourth quarter worth about $186,000. Trexquant Investment LP acquired a new position in Hudbay Minerals during the 4th quarter valued at about $1,502,000. TD Asset Management Inc raised its position in shares of Hudbay Minerals by 2.8% during the 4th quarter. TD Asset Management Inc now owns 979,801 shares of the mining company’s stock worth $5,417,000 after buying an additional 26,511 shares in the last quarter. Finally, Letko Brosseau & Associates Inc. lifted its stake in shares of Hudbay Minerals by 0.7% in the 4th quarter. Letko Brosseau & Associates Inc. now owns 16,569,958 shares of the mining company’s stock worth $91,609,000 after acquiring an additional 114,266 shares during the period. 57.82% of the stock is owned by institutional investors and hedge funds.

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.