Hudbay Minerals (NYSE:HBM) Shares Gap Down – Should You Sell?

Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM)’s share price gapped down prior to trading on Monday . The stock had previously closed at $9.37, but opened at $9.04. Hudbay Minerals shares last traded at $9.25, with a volume of 280,728 shares changing hands.

Analyst Ratings Changes

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

Hudbay Minerals Stock Performance

The company has a market cap of $3.52 billion, a PE ratio of 38.91 and a beta of 1.77. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.49 and a current ratio of 1.86. The stock’s 50-day simple moving average is $8.09 and its 200 day simple moving average is $8.45.

Hudbay Minerals Cuts Dividend

The company also recently disclosed a Semi-Annual dividend, which was paid on Friday, September 20th. Investors of record on Tuesday, September 3rd were given a $0.007 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a yield of 0.2%. Hudbay Minerals’s payout ratio is currently 4.35%.

Hedge Funds Weigh In On Hudbay Minerals

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Register Financial Advisors LLC purchased a new stake in shares of Hudbay Minerals in the first quarter valued at approximately $35,000. Exchange Traded Concepts LLC acquired a new stake in Hudbay Minerals in the third quarter valued at $53,000. Banque Cantonale Vaudoise boosted its position in shares of Hudbay Minerals by 38.7% during the 1st quarter. Banque Cantonale Vaudoise now owns 6,471 shares of the mining company’s stock worth $45,000 after purchasing an additional 1,806 shares in the last quarter. Ritholtz Wealth Management acquired a new position in shares of Hudbay Minerals during the 2nd quarter worth $96,000. Finally, Armistice Capital LLC purchased a new position in shares of Hudbay Minerals in the 2nd quarter valued at about $97,000. Institutional investors and hedge funds 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.