Hudbay Minerals (NYSE:HBM) Shares Gap Down - Time to Sell?

Hudbay Minerals Inc. (NYSE:HBM - Get Free Report) TSE: HBM's stock price gapped down prior to trading on Tuesday . The stock had previously closed at $9.58, but opened at $9.20. Hudbay Minerals shares last traded at $9.17, with a volume of 312,410 shares changing hands.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Hudbay Minerals from a "hold" rating to a "buy" rating in a research note on Friday, February 7th. Five research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Hudbay Minerals presently has a consensus rating of "Buy" and an average price target of $11.17.

Hudbay Minerals Stock Up 0.7 %

The company has a debt-to-equity ratio of 0.44, a current ratio of 1.86 and a quick ratio of 1.47. The firm's 50 day moving average is $8.61 and its two-hundred day moving average is $8.53. The firm has a market capitalization of $3.61 billion, a P/E ratio of 39.72 and a beta of 1.74.

Hedge Funds Weigh In On Hudbay Minerals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Woodline Partners LP boosted its position in Hudbay Minerals by 216.5% during the fourth quarter. Woodline Partners LP now owns 2,124,494 shares of the mining company's stock worth $17,208,000 after purchasing an additional 1,453,173 shares during the period. Two Sigma Advisers LP boosted its position in Hudbay Minerals by 12.6% during the fourth quarter. Two Sigma Advisers LP now owns 783,146 shares of the mining company's stock worth $6,343,000 after purchasing an additional 87,500 shares during the period. Temasek Holdings Private Ltd boosted its position in Hudbay Minerals by 6.3% during the fourth quarter. Temasek Holdings Private Ltd now owns 1,917,271 shares of the mining company's stock worth $15,530,000 after purchasing an additional 113,500 shares during the period. Toronto Dominion Bank boosted its position in Hudbay Minerals by 366.8% during the fourth quarter. Toronto Dominion Bank now owns 1,058,952 shares of the mining company's stock worth $8,579,000 after purchasing an additional 832,111 shares during the period. Finally, Polar Asset Management Partners Inc. boosted its position in Hudbay Minerals by 121.7% during the fourth quarter. Polar Asset Management Partners Inc. now owns 1,694,700 shares of the mining company's stock worth $13,727,000 after purchasing an additional 930,300 shares during the period. 57.82% of the stock is owned by institutional investors.

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.