Hudbay Minerals Inc. (NYSE:HBM – Get Free Report) (TSE:HBM) was the target of a large decline in short interest in July. As of July 31st, there was short interest totalling 5,650,000 shares, a decline of 13.6% from the July 15th total of 6,540,000 shares. Based on an average trading volume of 3,730,000 shares, the days-to-cover ratio is presently 1.5 days.
Wall Street Analyst Weigh In
Several research analysts recently weighed in on the stock. Jefferies Financial Group upgraded shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a research report on Wednesday, August 14th. National Bank Financial upgraded shares of Hudbay Minerals from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 14th. StockNews.com lowered shares of Hudbay Minerals from a “buy” rating to a “hold” rating in a research note on Tuesday, August 13th. Finally, Stifel Canada raised shares of Hudbay Minerals to a “strong-buy” rating in a research note on Monday, July 22nd. One equities research analyst has rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Hudbay Minerals has an average rating of “Buy” and a consensus target price of $10.36.
Institutional Inflows and Outflows
Hudbay Minerals Stock Performance
Shares of HBM stock traded up $0.17 on Monday, reaching $7.91. The stock had a trading volume of 3,104,892 shares, compared to its average volume of 2,975,824. The company has a quick ratio of 1.00, a current ratio of 1.40 and a debt-to-equity ratio of 0.61. The firm’s 50-day moving average is $8.44 and its two-hundred day moving average is $7.82. The firm has a market capitalization of $3.11 billion, a price-to-earnings ratio of 34.37 and a beta of 1.83. Hudbay Minerals has a 12 month low of $3.94 and a 12 month high of $10.49.
Hudbay Minerals Cuts Dividend
The firm also recently announced a Semi-Annual dividend, which will be paid on Friday, September 20th. Stockholders of record on Tuesday, September 3rd will be issued a dividend of $0.007 per share. The ex-dividend date is Tuesday, September 3rd. This represents a dividend yield of 0.2%. Hudbay Minerals’s dividend payout ratio is presently 4.35%.
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.
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