Hudbay Minerals (NYSE:HBM) Shares Gap Down - Here's What Happened

Hudbay Minerals Inc. (NYSE:HBM - Get Free Report) TSE: HBM's share price gapped down prior to trading on Friday . The stock had previously closed at $9.72, but opened at $9.14. Hudbay Minerals shares last traded at $9.20, with a volume of 479,763 shares trading hands.

Analyst Ratings Changes

HBM has been the topic of a number of analyst reports. Stifel Canada upgraded Hudbay Minerals to a "strong-buy" rating in a research note on Monday, July 22nd. StockNews.com cut Hudbay Minerals from a "buy" rating to a "hold" rating in a research note on Tuesday, August 13th. Finally, Jefferies Financial Group upgraded Hudbay Minerals from a "hold" rating to a "buy" rating in a research note on Wednesday, August 14th. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Hudbay Minerals currently has an average rating of "Buy" and a consensus price target of $11.17.

Hudbay Minerals Price Performance

The stock has a 50-day moving average price of $8.65 and a 200 day moving average price of $8.65. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.86 and a quick ratio of 1.49. The firm has a market cap of $3.68 billion, a price-to-earnings ratio of 40.65 and a beta of 1.78.

Hudbay Minerals Cuts Dividend

The company also recently announced a Semi-Annual dividend, which was paid on Friday, September 20th. Stockholders of record on Tuesday, September 3rd were given a dividend of $0.007 per share. This represents a dividend yield of 0.2%. The ex-dividend date of this dividend was Tuesday, September 3rd. Hudbay Minerals's dividend payout ratio (DPR) is currently 4.35%.

Institutional Trading of Hudbay Minerals

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Hudbay Minerals by 3.2% during the first quarter. Vanguard Group Inc. now owns 8,694,436 shares of the mining company's stock worth $60,861,000 after buying an additional 272,635 shares during the last quarter. Condire Management LP grew its holdings in shares of Hudbay Minerals by 4.2% during the first quarter. Condire Management LP now owns 4,226,553 shares of the mining company's stock worth $29,586,000 after buying an additional 169,310 shares during the last quarter. Donald Smith & CO. Inc. grew its holdings in shares of Hudbay Minerals by 31.9% during the third quarter. Donald Smith & CO. Inc. now owns 3,748,780 shares of the mining company's stock worth $34,451,000 after buying an additional 906,417 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Hudbay Minerals by 24.7% during the second quarter. Dimensional Fund Advisors LP now owns 3,545,340 shares of the mining company's stock worth $32,084,000 after buying an additional 702,170 shares during the last quarter. Finally, Jennison Associates LLC grew its holdings in shares of Hudbay Minerals by 12.2% during the third quarter. Jennison Associates LLC now owns 3,298,814 shares of the mining company's stock worth $30,340,000 after buying an additional 359,126 shares during the last quarter. Institutional investors and hedge funds own 57.82% 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.