Hudbay Minerals (NYSE:HBM) Trading Down 3.5% – Here’s What Happened

Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM)’s share price fell 3.5% on Friday . The stock traded as low as $8.81 and last traded at $8.83. 311,538 shares traded hands during trading, a decline of 90% from the average session volume of 3,104,059 shares. The stock had previously closed at $9.15.

Analyst Ratings Changes

Separately, StockNews.com raised Hudbay Minerals from a “hold” rating to a “buy” rating in a report on Friday, November 15th. Five investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Hudbay Minerals has a consensus rating of “Buy” and a consensus price target of $11.17.

Hudbay Minerals Price Performance

The company’s 50 day simple moving average is $9.12 and its 200 day simple moving average is $8.66. 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 has a market capitalization of $3.41 billion, a PE ratio of 39.81 and a beta of 1.77.

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

Hedge Funds Weigh In On Hudbay Minerals

A number of large investors have recently bought and sold shares of the stock. Blue Trust Inc. lifted its stake in shares of Hudbay Minerals by 60,870.8% in the 2nd quarter. Blue Trust Inc. now owns 14,633 shares of the mining company’s stock valued at $132,000 after purchasing an additional 14,609 shares in the last quarter. Liontrust Investment Partners LLP purchased a new stake in Hudbay Minerals during the second quarter worth approximately $100,000. K.J. Harrison & Partners Inc acquired a new stake in shares of Hudbay Minerals in the second quarter worth $773,000. Galibier Capital Management Ltd. raised its stake in shares of Hudbay Minerals by 13.7% in the 2nd quarter. Galibier Capital Management Ltd. now owns 2,046,150 shares of the mining company’s stock valued at $18,512,000 after acquiring an additional 247,002 shares during the period. Finally, Bfsg LLC acquired a new position in shares of Hudbay Minerals during the 2nd quarter valued at $801,000. 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.