HudBay Minerals (NYSE:HBM) Shares Down 9% – Should You Sell?

Shares of HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) fell 9% during mid-day trading on Tuesday . The company traded as low as $25.35 and last traded at $25.3880. Approximately 1,505,868 shares traded hands during mid-day trading, a decline of 75% from the average daily volume of 5,968,421 shares. The stock had previously closed at $27.91.

Wall Street Analysts Forecast Growth

HBM has been the topic of several research analyst reports. Weiss Ratings downgraded HudBay Minerals from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, June 8th. Wall Street Zen upgraded HudBay Minerals from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of HudBay Minerals in a research note on Tuesday, April 21st. Finally, Barclays started coverage on HudBay Minerals in a report on Thursday, May 21st. They issued an “overweight” rating and a $30.00 price target on the stock. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $27.33.

HudBay Minerals Trading Down 8.4%

The stock has a market cap of $10.16 billion, a P/E ratio of 15.42, a price-to-earnings-growth ratio of 0.32 and a beta of 1.43. The stock’s 50-day moving average is $25.96 and its two-hundred day moving average is $23.55. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.36 and a quick ratio of 1.20.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last announced its quarterly earnings results on Friday, May 1st. The mining company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.06. The company had revenue of $757.30 million for the quarter, compared to the consensus estimate of $684.73 million. HudBay Minerals had a net margin of 27.75% and a return on equity of 10.04%. HudBay Minerals’s revenue for the quarter was up 27.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.24 EPS. Equities research analysts anticipate that HudBay Minerals Inc will post 1.66 EPS for the current year.

HudBay Minerals Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Tuesday, June 9th will be given a dividend of $0.01 per share. The ex-dividend date is Tuesday, June 9th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.2%. HudBay Minerals’s dividend payout ratio (DPR) is presently 1.81%.

Institutional Investors Weigh In On HudBay Minerals

Large investors have recently made changes to their positions in the company. Allworth Financial LP grew its holdings in HudBay Minerals by 107.9% during the 3rd quarter. Allworth Financial LP now owns 1,990 shares of the mining company’s stock valued at $30,000 after buying an additional 1,033 shares in the last quarter. Quarry LP bought a new stake in HudBay Minerals in the 3rd quarter worth approximately $38,000. IFP Advisors Inc purchased a new stake in shares of HudBay Minerals during the 3rd quarter worth approximately $45,000. Banque Cantonale Vaudoise raised its holdings in shares of HudBay Minerals by 513.5% during the 3rd quarter. Banque Cantonale Vaudoise now owns 3,172 shares of the mining company’s stock worth $48,000 after acquiring an additional 2,655 shares in the last quarter. Finally, Jones Financial Companies Lllp boosted its position in shares of HudBay Minerals by 131.6% during the 1st quarter. Jones Financial Companies Lllp now owns 6,570 shares of the mining company’s stock valued at $50,000 after acquiring an additional 3,733 shares during the last quarter. 57.82% of the stock is owned by institutional investors.

About HudBay Minerals

HudBay Minerals Inc is a Canada-based mining company engaged in the exploration, development and production of base and precious metals. Its primary products include copper, zinc, gold and silver concentrates, which are sold to smelters and refiners worldwide. The company’s operations span multiple stages of the mining cycle, from resource definition and feasibility studies to mine construction, extraction and reclamation.

The company traces its roots back to 1927, when it was established as Hudson Bay Mining & Smelting Co Limited.