Zacks Upgrades HudBay Minerals to “Neutral” (HBM)
HudBay Minerals (NYSE:HBM) was upgraded by Zacks from an “underperform” rating to a “neutral” rating in a note issued to investors on Thursday. The firm currently has a $10.50 target price on the stock. Zacks‘s price target would indicate a potential upside of 2.94% from the stock’s previous close.
HudBay Minerals (NYSE:HBM) traded down 2.24% during mid-day trading on Thursday, hitting $10.02. The stock had a trading volume of 47,244 shares. HudBay Minerals has a 1-year low of $6.38 and a 1-year high of $10.98. The stock has a 50-day moving average of $10.1 and a 200-day moving average of $8.81. The company’s market cap is $2.301 billion. HudBay Minerals also was the recipient of a large drop in short interest in the month of July. As of July 31st, there was short interest totalling 4,607,528 shares, a drop of 40.7% from the July 15th total of 7,775,196 shares. Approximately 2.0% of the company’s shares are short sold. Based on an average daily volume of 43,314 shares, the short-interest ratio is currently 106.4 days.
HudBay Minerals (NYSE:HBM) last issued its quarterly earnings data on Friday, August 1st. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by $0.02. Analysts expect that HudBay Minerals will post $0.11 EPS for the current fiscal year.
The company also recently declared a semiannual dividend, which is scheduled for Tuesday, September 30th. Stockholders of record on Friday, September 12th will be given a dividend of $0.0093 per share. This represents a yield of 0.17%. The ex-dividend date of this dividend is Wednesday, September 10th.
A number of other analysts have also recently weighed in on HBM. Analysts at TD Securities upgraded shares of HudBay Minerals to a “buy” rating in a research note on Tuesday, July 22nd. Separately, analysts at Scotiabank upgraded shares of HudBay Minerals from a “sector perform” rating to a “sector outperform” rating in a research note on Monday, July 21st. Finally, analysts at CIBC downgraded shares of HudBay Minerals from an “outperform” rating to a “sector perform” rating in a research note on Tuesday, May 27th. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $10.50.
HudBay Minerals Inc (NYSE:HBM) is an integrated mining company.
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