Hudbay Minerals (TSE:HBM) Stock Price Down 14.4% – Here’s What Happened

Shares of Hudbay Minerals Inc. (TSE:HBM) (NYSE:HBM) fell 14.4% on Wednesday . The company traded as low as C$10.82 and last traded at C$10.87. 1,911,458 shares were traded during mid-day trading, an increase of 39% from the average session volume of 1,376,123 shares. The stock had previously closed at C$12.70.

Wall Street Analysts Forecast Growth

HBM has been the topic of a number of recent research reports. Scotiabank decreased their price target on shares of Hudbay Minerals from C$15.50 to C$14.00 and set an “outperform” rating on the stock in a research note on Thursday. Stifel Nicolaus raised their price target on shares of Hudbay Minerals from C$16.00 to C$16.50 and gave the stock a “buy” rating in a research note on Thursday, January 30th. TD Securities lowered their price objective on shares of Hudbay Minerals from C$15.00 to C$14.00 and set a “buy” rating for the company in a research report on Thursday. National Bankshares reduced their price target on Hudbay Minerals from C$17.00 to C$15.50 and set an “outperform” rating for the company in a research report on Thursday. Finally, Canaccord Genuity Group cut their target price on Hudbay Minerals from C$15.50 to C$14.00 and set a “buy” rating on the stock in a research note on Thursday. Thirteen analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of C$15.12.

Hudbay Minerals Trading Down 6.3 %

The stock’s fifty day simple moving average is C$12.27 and its 200-day simple moving average is C$11.89. The company has a debt-to-equity ratio of 46.39, a current ratio of 1.86 and a quick ratio of 0.85. The firm has a market cap of C$2.80 billion, a PE ratio of 28.44, a PEG ratio of 3.97 and a beta of 1.83.

Insider Activity at Hudbay Minerals

In related news, Senior Officer Robert Alan Carter sold 8,014 shares of Hudbay Minerals stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of C$13.24, for a total transaction of C$106,105.36. 0.07% of the stock is owned by insiders.

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.