Hudbay Minerals (TSE:HBM) Shares Down 14.4% – Here’s What Happened

Hudbay Minerals Inc. (TSE:HBM) (NYSE:HBM)’s share price was down 14.4% during mid-day trading on Wednesday . The company traded as low as C$10.82 and last traded at C$10.87. Approximately 1,911,458 shares changed hands during mid-day trading, an increase of 39% from the average daily volume of 1,376,123 shares. The stock had previously closed at C$12.70.

Analysts Set New Price Targets

Separately, Stifel Nicolaus boosted their target price on shares of Hudbay Minerals from C$16.00 to C$16.50 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Twelve equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of C$15.57.

Hudbay Minerals Stock Performance

The company has a debt-to-equity ratio of 46.39, a current ratio of 1.86 and a quick ratio of 0.85. The stock has a market cap of C$3.01 billion, a price-to-earnings ratio of 30.53, a P/E/G ratio of 3.97 and a beta of 1.83. The stock’s 50-day moving average is C$12.38 and its 200 day moving average is C$11.90.

Insider Transactions at Hudbay Minerals

In related news, Senior Officer Robert Alan Carter sold 8,014 shares of Hudbay Minerals stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of C$13.24, for a total transaction of C$106,105.36. Corporate insiders own 0.07% of the company’s stock.

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.