Hudbay Minerals (NYSE:HBM) Sets New 1-Year Low – What’s Next?

Shares of Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) reached a new 52-week low on Friday . The company traded as low as $6.26 and last traded at $6.21, with a volume of 2189206 shares. The stock had previously closed at $7.11.

Wall Street Analysts Forecast Growth

HBM has been the topic of several recent research reports. Stifel Canada upgraded Hudbay Minerals to a “strong-buy” rating in a report on Wednesday, March 19th. Desjardins began coverage on shares of Hudbay Minerals in a research report on Friday. They set a “buy” rating for the company. Finally, StockNews.com raised shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Four equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $11.50.

Hudbay Minerals Stock Down 11.5 %

The company has a debt-to-equity ratio of 0.44, a current ratio of 1.86 and a quick ratio of 1.47. The stock has a market cap of $2.49 billion, a price-to-earnings ratio of 34.97 and a beta of 1.72. The firm has a 50 day simple moving average of $7.94 and a two-hundred day simple moving average of $8.53.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last announced its quarterly earnings results on Wednesday, February 19th. The mining company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.02). The firm had revenue of $584.90 million during the quarter, compared to analyst estimates of $588.28 million. Hudbay Minerals had a net margin of 3.80% and a return on equity of 7.29%. The business’s revenue was down 2.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.20 earnings per share. As a group, sell-side analysts expect that Hudbay Minerals Inc. will post 0.79 EPS for the current year.

Hudbay Minerals Increases Dividend

The company also recently declared a semi-annual dividend, which was paid on Friday, March 21st. Stockholders of record on Tuesday, March 4th were issued a $0.007 dividend. This is a positive change from Hudbay Minerals’s previous semi-annual dividend of $0.01. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a dividend yield of 0.2%. Hudbay Minerals’s payout ratio is 5.56%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HBM. Tower Research Capital LLC TRC raised its position in shares of Hudbay Minerals by 9,877.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,093 shares of the mining company’s stock worth $25,000 after purchasing an additional 3,062 shares during the period. Algert Global LLC acquired a new stake in Hudbay Minerals during the 4th quarter worth approximately $86,000. Plato Investment Management Ltd bought a new position in Hudbay Minerals in the fourth quarter valued at approximately $95,000. Hsbc Holdings PLC acquired a new position in shares of Hudbay Minerals in the fourth quarter valued at approximately $97,000. Finally, Advisory Services Network LLC bought a new stake in shares of Hudbay Minerals during the fourth quarter worth $101,000. 57.82% of the stock is currently owned by 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.