Hudbay Minerals (NYSE:HBM) Sees Unusually-High Trading Volume

Hudbay Minerals Inc. (NYSE:HBMGet Rating) (TSE:HBM) shares saw strong trading volume on Tuesday . 28,491 shares changed hands during trading, a decline of 97% from the previous session’s volume of 1,051,024 shares.The stock last traded at $4.14 and had previously closed at $4.34.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Credit Suisse Group dropped their target price on Hudbay Minerals from C$7.50 to C$7.00 in a research report on Thursday, September 8th. TheStreet lowered shares of Hudbay Minerals from a “c-” rating to a “d” rating in a research note on Friday, August 19th. BMO Capital Markets decreased their price target on shares of Hudbay Minerals from C$13.00 to C$12.50 in a research note on Tuesday, August 9th. Canaccord Genuity Group decreased their price target on shares of Hudbay Minerals from C$11.50 to C$9.50 in a research note on Thursday, July 14th. Finally, Raymond James raised their price target on shares of Hudbay Minerals from C$8.00 to C$9.00 in a research note on Wednesday, August 24th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $10.28.

Hudbay Minerals Price Performance

The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.97 and a current ratio of 1.41. The stock’s 50 day simple moving average is $4.06 and its two-hundred day simple moving average is $5.44. The firm has a market capitalization of $1.07 billion, a PE ratio of -12.33, a price-to-earnings-growth ratio of 0.72 and a beta of 1.92.

Hudbay Minerals Announces Dividend

The firm also recently announced a Semi-Annual dividend, which will be paid on Friday, September 23rd. Shareholders of record on Friday, September 2nd will be paid a $0.008 dividend. This represents a yield of 0.3%. The ex-dividend date of this dividend is Thursday, September 1st. Hudbay Minerals’s dividend payout ratio (DPR) is -6.06%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Grayhawk Investment Strategies Inc. purchased a new stake in shares of Hudbay Minerals during the 2nd quarter valued at approximately $31,000. Meridian Wealth Management LLC purchased a new stake in shares of Hudbay Minerals during the 2nd quarter valued at approximately $49,000. US Bancorp DE raised its position in shares of Hudbay Minerals by 122.4% during the 1st quarter. US Bancorp DE now owns 7,899 shares of the mining company’s stock valued at $62,000 after buying an additional 4,347 shares during the period. ClariVest Asset Management LLC purchased a new stake in shares of Hudbay Minerals during the 2nd quarter valued at approximately $67,000. Finally, Creative Planning raised its position in shares of Hudbay Minerals by 64.1% during the 2nd quarter. Creative Planning now owns 16,409 shares of the mining company’s stock valued at $67,000 after buying an additional 6,409 shares during the period. 66.69% of the stock is owned by hedge funds and other institutional investors.

About Hudbay Minerals

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Hudbay Minerals Inc, a diversified mining company, together with its subsidiaries, focuses on the discovery, production, and marketing of base and precious metals in North and South America. It produces copper concentrates containing copper, gold, and silver; silver/gold doré; molybdenum concentrates; and zinc metals.

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