Hudbay Minerals (NYSE:HBM) Shares Gap Up - What's Next?

Shares of Hudbay Minerals Inc. (NYSE:HBM - Get Free Report) TSE: HBM gapped up prior to trading on Monday . The stock had previously closed at $7.73, but opened at $7.98. Hudbay Minerals shares last traded at $7.97, with a volume of 1,071,222 shares.

Analysts Set New Price Targets

HBM has been the topic of several research reports. Stifel Canada upgraded shares of Hudbay Minerals to a "strong-buy" rating in a research report on Wednesday. StockNews.com raised Hudbay Minerals from a "hold" rating to a "buy" rating in a research note on Friday, February 7th. Four investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Hudbay Minerals presently has a consensus rating of "Buy" and a consensus target price of $11.50.

Hudbay Minerals Price Performance

The stock has a market capitalization of $3.22 billion, a PE ratio of 45.25 and a beta of 1.72. 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 simple moving average is $8.14 and its 200 day simple moving average is $8.49.

Hudbay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last issued its earnings results 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 return on equity of 7.29% and a net margin of 3.80%. The business had revenue of $584.90 million during the quarter, compared to analysts' expectations of $588.28 million. During the same quarter in the previous year, the business earned $0.20 EPS. Hudbay Minerals'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 EPS for the current fiscal year.

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Hudbay Minerals Increases Dividend

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

Hedge Funds Weigh In On Hudbay Minerals

A number of large investors have recently bought and sold shares of the stock. Tower Research Capital LLC TRC boosted its stake in shares of Hudbay Minerals by 9,877.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,093 shares of the mining company's stock valued at $25,000 after purchasing an additional 3,062 shares during the period. Prospera Private Wealth LLC purchased a new stake in shares of Hudbay Minerals during the third quarter worth about $28,000. Algert Global LLC purchased a new stake in shares of Hudbay Minerals during the fourth quarter worth about $86,000. Plato Investment Management Ltd bought a new stake in shares of Hudbay Minerals in the fourth quarter worth about $95,000. Finally, Hsbc Holdings PLC purchased a new position in Hudbay Minerals during the 4th quarter valued at about $97,000. 57.82% of the stock is owned by hedge funds and other institutional investors.

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.