Hudbay Minerals Inc (TSE:HBM) (NYSE:HBM) shares dropped 4.7% during mid-day trading on Wednesday . The company traded as low as C$8.98 and last traded at C$9.08. Approximately 1,889,568 shares were traded during trading, a decline of 5% from the average daily volume of 1,987,520 shares. The stock had previously closed at C$9.53.

A number of research firms have recently weighed in on HBM. Barclays PLC increased their price objective on shares of Hudbay Minerals from C$10.00 to C$11.00 in a research note on Wednesday, August 9th. Eight Capital reiterated a “buy” rating on shares of Hudbay Minerals in a research note on Thursday, August 17th. Scotiabank reiterated a “focus stock” rating and issued a C$12.00 price objective on shares of Hudbay Minerals in a research note on Thursday, June 8th. National Bank Financial increased their price objective on shares of Hudbay Minerals from C$11.00 to C$11.50 and gave the stock an “outperform” rating in a research note on Tuesday, August 8th. Finally, TD Securities reiterated an “action list buy” rating and issued a C$13.50 price objective on shares of Hudbay Minerals in a research note on Monday, June 12th. Three equities research analysts have rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of C$10.72.

The stock has a market cap of $2.17 billion and a PE ratio of 228.50. The stock has a 50 day moving average price of $10.09 and a 200 day moving average price of $8.64.

The company also recently disclosed a Semi-Annual dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 8th will be paid a $0.01 dividend. The ex-dividend date is Thursday, September 7th. This represents a yield of 0.09%.

In related news, insider Gmt Capital Corp purchased 11,800 shares of the stock in a transaction dated Monday, August 14th. The shares were acquired at an average cost of C$7.29 per share, with a total value of C$86,022.00. Insiders acquired a total of 33,000 shares of company stock worth $211,325 over the last three months.

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About Hudbay Minerals

Hudbay Minerals Inc is a Canada-based mining company. The Company is engaged in the production of copper concentrate, consisting of copper, gold and silver, as well as zinc metal. The Company is focused on the discovery, production and marketing of base and precious metals. The Company has assets in North and South America.

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