Hudbay Minerals (TSE:HBM) Reaches New 1-Year Low at $4.19

Hudbay Minerals Inc (TSE:HBM) (NYSE:HBM)’s share price hit a new 52-week low during mid-day trading on Thursday . The company traded as low as C$4.19 and last traded at C$4.32, with a volume of 670788 shares traded. The stock had previously closed at C$4.23.

A number of equities research analysts have recently issued reports on HBM shares. Eight Capital lowered their price target on shares of Hudbay Minerals from C$11.00 to C$9.00 in a report on Friday, August 2nd. BMO Capital Markets lowered their price target on shares of Hudbay Minerals from C$10.50 to C$10.00 in a report on Friday, August 2nd. TD Securities lowered their price target on shares of Hudbay Minerals from C$10.50 to C$7.50 and set a “buy” rating on the stock in a report on Friday, August 2nd. Haywood Securities lowered their price target on shares of Hudbay Minerals from C$9.00 to C$8.00 in a report on Tuesday, August 6th. Finally, CIBC lowered their price target on shares of Hudbay Minerals from C$9.00 to C$7.00 in a report on Tuesday, August 6th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of C$7.98.

The business’s 50 day moving average is C$6.13 and its two-hundred day moving average is C$7.72. The firm has a market capitalization of $1.18 billion and a PE ratio of -23.73. The company has a debt-to-equity ratio of 49.69, a current ratio of 2.31 and a quick ratio of 1.78.

The business also recently announced a Semi-Annual dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 6th will be paid a $0.01 dividend. The ex-dividend date is Thursday, September 5th. Hudbay Minerals’s dividend payout ratio is currently -8.27%.

In related news, insider Waterton Global Resource Management, Inc. bought 500,000 shares of the stock in a transaction that occurred on Wednesday, July 10th. The shares were acquired at an average cost of C$6.57 per share, with a total value of C$3,284,358.00. Following the completion of the purchase, the insider now directly owns 17,324,844 shares of the company’s stock, valued at approximately C$113,801,979.98.

About Hudbay Minerals (TSE:HBM)

Hudbay Minerals Inc, an integrated 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; and zinc metal. The company owns three polymetallic mines, four ore concentrators, and a zinc production facility in northern Manitoba and Saskatchewan, Canada, as well as in Cusco, Peru; and copper projects in Arizona and Nevada, the United States.

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