Hudbay Minerals (NYSE:HBM) Trading Up 7.5% - Still a Buy?

Hudbay Minerals Inc. (NYSE:HBM - Get Free Report) TSE: HBM shares traded up 7.5% during mid-day trading on Wednesday . The company traded as high as $7.44 and last traded at $7.41. 994,816 shares traded hands during trading, a decline of 85% from the average session volume of 6,523,782 shares. The stock had previously closed at $6.89.

Analyst Ratings Changes

Separately, StockNews.com upgraded 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 assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $11.17.

Hudbay Minerals Stock Down 3.7 %

The firm has a market capitalization of $2.75 billion, a PE ratio of 38.70 and a beta of 1.72. The company has a fifty day simple moving average of $8.28 and a two-hundred day simple moving average of $8.51. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.47 and a current ratio of 1.86.

Hudbay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last issued its earnings results on Wednesday, February 19th. The mining company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.02). Hudbay Minerals had a return on equity of 7.29% and a net margin of 3.80%. The firm had revenue of $584.90 million during the quarter, compared to analysts' expectations of $588.28 million. During the same quarter in the prior year, the company posted $0.20 earnings per share. Hudbay Minerals's quarterly revenue was down 2.9% compared to the same quarter last year. 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 company also recently announced a semi-annual dividend, which will be paid on Friday, March 21st. Shareholders of record on Tuesday, March 4th will be issued a $0.007 dividend. This represents a dividend yield of 0.2%. This is a boost from Hudbay Minerals's previous semi-annual dividend of $0.01. The ex-dividend date of this dividend is Tuesday, March 4th. Hudbay Minerals's dividend payout ratio is currently 5.56%.

Institutional Investors Weigh In On Hudbay Minerals

A number of hedge funds have recently made changes to their positions in HBM. Mountaineer Partners Management LLC lifted its stake in shares of Hudbay Minerals by 792.5% during the 3rd quarter. Mountaineer Partners Management LLC now owns 10,323,605 shares of the mining company's stock worth $94,874,000 after purchasing an additional 9,166,952 shares during the last quarter. Norges Bank purchased a new stake in shares of Hudbay Minerals during the 4th quarter worth $50,260,000. Dimensional Fund Advisors LP lifted its stake in shares of Hudbay Minerals by 86.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 9,149,134 shares of the mining company's stock worth $74,105,000 after purchasing an additional 4,253,400 shares during the last quarter. Price T Rowe Associates Inc. MD purchased a new stake in shares of Hudbay Minerals during the 4th quarter worth $17,657,000. Finally, American Century Companies Inc. lifted its stake in shares of Hudbay Minerals by 102.4% during the 4th quarter. American Century Companies Inc. now owns 4,275,895 shares of the mining company's stock worth $34,684,000 after purchasing an additional 2,163,000 shares during the last quarter. 57.82% of the stock is currently 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.