Hudbay Minerals (NYSE:HBM) Shares Down 3.5% - What's Next?

Hudbay Minerals Inc. (NYSE:HBM - Get Free Report) TSE: HBM was down 3.5% during trading on Friday . The stock traded as low as $8.81 and last traded at $8.83. Approximately 311,538 shares traded hands during mid-day trading, a decline of 90% from the average daily volume of 3,104,059 shares. The stock had previously closed at $9.15.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of Hudbay Minerals from a "hold" rating to a "buy" rating in a report on Friday, November 15th. Five 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 company has a consensus rating of "Buy" and an average price target of $11.17.

Hudbay Minerals Stock Performance

The company has a current ratio of 1.86, a quick ratio of 1.47 and a debt-to-equity ratio of 0.44. The stock's 50 day moving average is $9.11 and its 200 day moving average is $8.64. The stock has a market capitalization of $3.41 billion, a price-to-earnings ratio of 37.65 and a beta of 1.77.

Hudbay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last announced its quarterly earnings results on Wednesday, November 13th. The mining company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.09. Hudbay Minerals had a net margin of 4.23% and a return on equity of 7.44%. The company had revenue of $485.80 million for the quarter, compared to the consensus estimate of $454.47 million. During the same quarter in the prior year, the firm earned $0.07 earnings per share. The company's revenue for the quarter was up 1.1% compared to the same quarter last year. On average, analysts predict that Hudbay Minerals Inc. will post 0.55 earnings per share for the current year.

Hedge Funds Weigh In On Hudbay Minerals

Hedge funds have recently bought and sold shares of the stock. Tidal Investments LLC acquired a new stake in shares of Hudbay Minerals during the 3rd quarter worth about $886,000. Sanctuary Advisors LLC purchased a new position in shares of Hudbay Minerals during the third quarter valued at approximately $178,000. Barclays PLC boosted its position in Hudbay Minerals by 2,414.5% during the third quarter. Barclays PLC now owns 86,475 shares of the mining company's stock worth $795,000 after acquiring an additional 83,036 shares during the last quarter. Teachers Retirement System of The State of Kentucky purchased a new stake in Hudbay Minerals in the 3rd quarter worth approximately $2,771,000. Finally, Toronto Dominion Bank raised its holdings in Hudbay Minerals by 300.9% in the 3rd quarter. Toronto Dominion Bank now owns 226,841 shares of the mining company's stock valued at $2,085,000 after acquiring an additional 170,257 shares during the last quarter. Hedge funds and other institutional investors 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.