Hudbay Minerals (NYSE:HBM) Stock Price Up 7.5% – Time to Buy?

Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM)’s stock price was up 7.5% on Wednesday . The stock traded as high as $7.44 and last traded at $7.41. Approximately 994,816 shares changed hands during trading, a decline of 85% from the average daily volume of 6,523,782 shares. The stock had previously closed at $6.89.

Wall Street Analysts Forecast Growth

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

Hudbay Minerals Trading Up 7.2 %

The company has a quick ratio of 1.47, a current ratio of 1.86 and a debt-to-equity ratio of 0.44. The firm has a 50 day moving average price of $8.35 and a two-hundred day moving average price of $8.53. The company has a market cap of $2.92 billion, a price-to-earnings ratio of 41.03 and a beta of 1.74.

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

Hudbay Minerals Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Friday, March 21st. Stockholders of record on Tuesday, March 4th will be given a dividend of $0.007 per share. This is an increase from Hudbay Minerals’s previous semi-annual dividend of $0.01. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a dividend yield of 0.2%. Hudbay Minerals’s dividend payout ratio (DPR) is 5.56%.

Hedge Funds Weigh In On Hudbay Minerals

Several institutional investors have recently made changes to their positions in HBM. Tower Research Capital LLC TRC raised its stake in Hudbay Minerals by 9,877.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,093 shares of the mining company’s stock worth $25,000 after buying an additional 3,062 shares during the period. Prospera Private Wealth LLC acquired a new position in shares of Hudbay Minerals during the third quarter worth approximately $28,000. Algert Global LLC bought a new position in shares of Hudbay Minerals in the 4th quarter worth $86,000. Plato Investment Management Ltd acquired a new stake in Hudbay Minerals in the 4th quarter valued at $95,000. Finally, Hsbc Holdings PLC bought a new stake in Hudbay Minerals during the 4th quarter valued at $97,000. Institutional investors and hedge funds 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.