Hudbay Minerals (NYSE:HBM) Hits New 52-Week Low – Time to Sell?

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

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Stifel Canada raised Hudbay Minerals to a “strong-buy” rating in a research note on Wednesday, March 19th. Desjardins assumed coverage on shares of Hudbay Minerals in a research report on Friday. They set a “buy” rating on the stock. Finally, StockNews.com upgraded shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Four investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $11.50.

Hudbay Minerals Stock Down 11.7 %

The stock has a 50-day moving average price of $7.99 and a 200-day moving average price of $8.53. 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 company has a market capitalization of $2.48 billion, a P/E ratio of 34.92 and a beta of 1.72.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last released its quarterly earnings results on Wednesday, February 19th. The mining company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.02). Hudbay Minerals had a return on equity of 7.29% and a net margin of 3.80%. The firm had revenue of $584.90 million for the quarter, compared to the consensus estimate of $588.28 million. During the same quarter in the previous year, the business posted $0.20 EPS. The firm’s revenue for the quarter was down 2.9% compared to the same quarter last year. On average, research analysts predict that Hudbay Minerals Inc. will post 0.79 EPS for the current fiscal year.

Hudbay Minerals Increases Dividend

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

Hedge Funds Weigh In On Hudbay Minerals

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

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.