Hudbay Minerals Target of Unusually Large Options Trading (NYSE:HBM)

Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) was the recipient of unusually large options trading activity on Monday. Traders acquired 6,775 call options on the stock. This represents an increase of approximately 1,707% compared to the typical volume of 375 call options.

Hudbay Minerals Price Performance

NYSE:HBM traded up $0.14 during mid-day trading on Monday, hitting $8.77. 1,591,441 shares of the stock traded hands, compared to its average volume of 2,300,718. The business’s 50-day moving average price is $6.85 and its 200 day moving average price is $5.64. The company has a market cap of $3.08 billion, a PE ratio of 43.75, a price-to-earnings-growth ratio of 0.95 and a beta of 1.95. Hudbay Minerals has a 12-month low of $3.94 and a 12-month high of $8.81. The company has a quick ratio of 0.87, a current ratio of 1.25 and a debt-to-equity ratio of 0.61.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last released its quarterly earnings results on Friday, February 23rd. The mining company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.06. Hudbay Minerals had a net margin of 3.95% and a return on equity of 3.86%. The business had revenue of $602.20 million during the quarter, compared to analysts’ expectations of $552.74 million. During the same quarter in the previous year, the company earned $0.01 EPS. The business’s quarterly revenue was up 87.5% compared to the same quarter last year. On average, analysts expect that Hudbay Minerals will post 0.39 EPS for the current fiscal year.

Hudbay Minerals Cuts Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Friday, March 22nd. Stockholders of record on Tuesday, March 5th were issued a $0.0074 dividend. The ex-dividend date of this dividend was Monday, March 4th. This represents a dividend yield of 0.3%. Hudbay Minerals’s payout ratio is 5.00%.

Institutional Investors Weigh In On Hudbay Minerals

A number of hedge funds have recently made changes to their positions in HBM. Galibier Capital Management Ltd. bought a new stake in Hudbay Minerals during the 1st quarter valued at $12,604,000. Register Financial Advisors LLC purchased a new position in Hudbay Minerals during the 1st quarter valued at $35,000. Counterpoint Mutual Funds LLC purchased a new position in Hudbay Minerals during the 1st quarter valued at $130,000. Ballentine Partners LLC purchased a new position in Hudbay Minerals during the 1st quarter valued at $85,000. Finally, Banque Cantonale Vaudoise increased its position in Hudbay Minerals by 38.7% during the 1st quarter. Banque Cantonale Vaudoise now owns 6,471 shares of the mining company’s stock valued at $45,000 after purchasing an additional 1,806 shares during the period. 57.82% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

HBM has been the subject of several recent research reports. Bank of America upgraded shares of Hudbay Minerals from a “neutral” rating to a “buy” rating and set a $9.00 target price for the company in a research note on Tuesday, April 9th. Raymond James lifted their target price on shares of Hudbay Minerals from $9.00 to $10.50 and gave the stock an “outperform” rating in a research note on Wednesday, March 20th. StockNews.com upgraded shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a research note on Friday, March 29th. Finally, Stifel Nicolaus started coverage on shares of Hudbay Minerals in a research note on Tuesday, March 26th. They set a “buy” rating for the company. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $9.75.

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.