Hudbay Minerals (NYSE:HBM) Shares Gap Up – Time to Buy?

Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM)’s share price gapped up before the market opened 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 traded.

Analyst Ratings Changes

Separately, StockNews.com raised shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a research 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. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $11.17.

Hudbay Minerals Price Performance

The stock’s 50-day moving average price is $8.16 and its 200 day moving average price is $8.49. The firm has a market cap of $3.25 billion, a price-to-earnings ratio of 45.70 and a beta of 1.72. The company has a quick ratio of 1.47, a current ratio of 1.86 and a debt-to-equity ratio of 0.44.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last announced its quarterly earnings data on Wednesday, February 19th. The mining company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.02). The company had revenue of $584.90 million for the quarter, compared to analyst estimates of $588.28 million. Hudbay Minerals had a net margin of 3.80% and a return on equity of 7.29%. The firm’s quarterly revenue was down 2.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.20 EPS. Equities research analysts predict that Hudbay Minerals Inc. will post 0.79 earnings per share for the current year.

Hudbay Minerals Increases Dividend

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Prospera Private Wealth LLC acquired a new position in Hudbay Minerals in the third quarter worth about $28,000. Tower Research Capital LLC TRC raised its position in Hudbay Minerals by 9,877.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,093 shares of the mining company’s stock worth $25,000 after purchasing an additional 3,062 shares in the last quarter. Algert Global LLC acquired a new position in Hudbay Minerals in the fourth quarter worth about $86,000. Plato Investment Management Ltd acquired a new position in Hudbay Minerals in the fourth quarter worth about $95,000. Finally, Hsbc Holdings PLC acquired a new position in Hudbay Minerals in the fourth quarter worth about $97,000. Institutional investors and hedge funds own 57.82% of the company’s stock.

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.