Hudbay Minerals (NYSE:HBM) Reaches New 12-Month High at $8.13

Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) hit a new 52-week high on Thursday . The company traded as high as $8.13 and last traded at $8.10, with a volume of 1259787 shares. The stock had previously closed at $7.74.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Stifel Nicolaus started coverage on Hudbay Minerals in a research report on Tuesday, March 26th. They set a “buy” rating for the company. Raymond James raised their target price on Hudbay Minerals from $9.00 to $10.50 and gave the company an “outperform” rating in a research report on Wednesday, March 20th. Bank of America upgraded Hudbay Minerals from a “neutral” rating to a “buy” rating and set a $9.00 target price on the stock in a research note on Tuesday, April 9th. Finally, StockNews.com upgraded shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a research report on Friday, March 29th. Nine analysts have rated the stock with a buy rating, According to MarketBeat, Hudbay Minerals has a consensus rating of “Buy” and an average price target of $9.75.

Hudbay Minerals Price Performance

The company has a current ratio of 1.25, a quick ratio of 0.87 and a debt-to-equity ratio of 0.61. The stock has a market cap of $3.03 billion, a PE ratio of 43.18, a PEG ratio of 0.82 and a beta of 1.95. The business has a 50-day moving average price of $6.85 and a 200 day moving average price of $5.63.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last released its quarterly earnings data on Friday, February 23rd. The mining company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.14 by $0.06. The business had revenue of $602.20 million for the quarter, compared to the consensus estimate of $552.74 million. Hudbay Minerals had a net margin of 3.95% and a return on equity of 3.86%. The company’s revenue was up 87.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.01 earnings per share. As a group, research analysts forecast that Hudbay Minerals Inc. will post 0.4 earnings per share for the current fiscal year.

Hudbay Minerals Cuts Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Friday, March 22nd. Investors of record on Tuesday, March 5th were issued a $0.0074 dividend. This represents a yield of 0.3%. The ex-dividend date was Monday, March 4th. Hudbay Minerals’s dividend payout ratio (DPR) is presently 5.00%.

Institutional Investors Weigh In On Hudbay Minerals

A number of hedge funds and other institutional investors have recently bought and sold shares of HBM. Galibier Capital Management Ltd. purchased a new position in shares of Hudbay Minerals in the first quarter valued at $12,604,000. Register Financial Advisors LLC bought a new stake in shares of Hudbay Minerals during the first quarter valued at about $35,000. Counterpoint Mutual Funds LLC purchased a new stake in shares of Hudbay Minerals in the first quarter worth about $130,000. Ballentine Partners LLC bought a new position in shares of Hudbay Minerals in the first quarter valued at approximately $85,000. Finally, Banque Cantonale Vaudoise grew its stake in Hudbay Minerals by 38.7% during the first quarter. Banque Cantonale Vaudoise now owns 6,471 shares of the mining company’s stock valued at $45,000 after acquiring an additional 1,806 shares in the last quarter. Institutional investors own 57.82% of the company’s stock.

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.