Hudbay Minerals (NYSE:HBM) Shares Gap Up to $8.08

Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) shares gapped up before the market opened on Tuesday . The stock had previously closed at $8.08, but opened at $8.53. Hudbay Minerals shares last traded at $8.63, with a volume of 1,664,271 shares.

Analyst Upgrades and Downgrades

HBM has been the subject of several research reports. StockNews.com downgraded shares of Hudbay Minerals from a “buy” rating to a “hold” rating in a research note on Tuesday, August 13th. Stifel Canada raised Hudbay Minerals to a “strong-buy” rating in a report on Monday, July 22nd. Finally, Jefferies Financial Group raised shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a report on Wednesday, August 14th. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $10.88.

Hudbay Minerals Price Performance

The company has a quick ratio of 1.49, a current ratio of 1.86 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $3.45 billion, a price-to-earnings ratio of 37.39 and a beta of 1.77. The company has a fifty day moving average price of $7.71 and a two-hundred day moving average price of $8.18.

Hudbay Minerals Cuts Dividend

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

Institutional Trading of Hudbay Minerals

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Register Financial Advisors LLC acquired a new stake in shares of Hudbay Minerals in the 1st quarter valued at approximately $35,000. Banque Cantonale Vaudoise increased its stake 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. Ballentine Partners LLC acquired a new position in shares of Hudbay Minerals during the 1st quarter worth approximately $85,000. Ritholtz Wealth Management purchased a new position in Hudbay Minerals during the second quarter worth $96,000. Finally, Armistice Capital LLC acquired a new position in shares of Hudbay Minerals in the second quarter worth $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.