Hudbay Minerals (NYSE:HBM) Shares Up 7.5% – What’s Next?

Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) rose 7.5% during trading on Wednesday . The stock traded as high as $7.44 and last traded at $7.41. Approximately 994,816 shares traded 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 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.com, the stock currently has an average rating of “Buy” and an average target price of $11.17.

Hudbay Minerals Stock 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 stock has a fifty 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 released its quarterly earnings results on Wednesday, February 19th. The mining company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.02). The business had revenue of $584.90 million during the quarter, compared to analyst estimates 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 quarter in the previous year, the firm posted $0.20 earnings per share. As a group, sell-side analysts expect that Hudbay Minerals Inc. will post 0.79 EPS for the current year.

Hudbay Minerals Increases Dividend

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of HBM. Pictet Asset Management Holding SA raised its position in shares of Hudbay Minerals by 2.0% in the 4th quarter. Pictet Asset Management Holding SA now owns 66,380 shares of the mining company’s stock valued at $538,000 after buying an additional 1,278 shares in the last quarter. Northwest & Ethical Investments L.P. increased its position in Hudbay Minerals by 0.8% during the 3rd quarter. Northwest & Ethical Investments L.P. now owns 197,289 shares of the mining company’s stock worth $1,815,000 after purchasing an additional 1,487 shares in the last quarter. Van ECK Associates Corp boosted its position in Hudbay Minerals by 0.4% in the third quarter. Van ECK Associates Corp now owns 451,628 shares of the mining company’s stock valued at $4,213,000 after buying an additional 1,960 shares in the last quarter. Sprott Inc. grew its stake in shares of Hudbay Minerals by 3.5% during the fourth quarter. Sprott Inc. now owns 63,662 shares of the mining company’s stock worth $516,000 after buying an additional 2,162 shares during the last quarter. Finally, MQS Management LLC increased its holdings in shares of Hudbay Minerals by 8.2% during the third quarter. MQS Management LLC now owns 34,231 shares of the mining company’s stock worth $315,000 after buying an additional 2,592 shares in the last quarter. 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.