Hudbay Minerals (NYSE:HBM) Hits New 12-Month High - Here's What Happened

Hudbay Minerals Inc. (NYSE:HBM - Get Free Report) TSE: HBM reached a new 52-week high during mid-day trading on Monday . The company traded as high as $9.86 and last traded at $9.83, with a volume of 3108185 shares. The stock had previously closed at $9.62.

Analyst Upgrades and Downgrades

HBM has been the subject of a number of research analyst reports. Scotiabank reaffirmed an "outperform" rating on shares of Hudbay Minerals in a report on Tuesday, May 13th. Desjardins initiated coverage on shares of Hudbay Minerals in a report on Friday, April 4th. They issued a "buy" rating for the company. Stifel Canada raised shares of Hudbay Minerals to a "strong-buy" rating in a report on Wednesday, March 19th. BMO Capital Markets began coverage on shares of Hudbay Minerals in a report on Wednesday, April 16th. They issued an "outperform" rating for the company. Finally, Wall Street Zen raised shares of Hudbay Minerals from a "hold" rating to a "buy" rating in a report on Thursday, May 22nd. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $14.00.

Hudbay Minerals Trading Up 1.7%

The company has a debt-to-equity ratio of 0.44, a current ratio of 1.86 and a quick ratio of 1.47. The company's fifty day moving average is $8.01 and its 200-day moving average is $8.16. The stock has a market cap of $3.79 billion, a PE ratio of 53.34 and a beta of 1.60.

Hudbay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last released its quarterly earnings results on Monday, May 12th. The mining company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.10 by $0.14. The company had revenue of $594.90 million for the quarter, compared to analyst estimates of $537.36 million. Hudbay Minerals had a net margin of 3.80% and a return on equity of 7.29%. The firm's revenue was up 13.3% on a year-over-year basis. During the same quarter last year, the business earned $0.22 earnings per share. On average, analysts predict that Hudbay Minerals Inc. will post 0.79 earnings per share for the current fiscal year.

Institutional Trading of Hudbay Minerals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HBM. Tower Research Capital LLC TRC grew its position in Hudbay Minerals by 9,877.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,093 shares of the mining company's stock valued at $25,000 after buying an additional 3,062 shares during the period. SBI Securities Co. Ltd. grew its position in Hudbay Minerals by 64.6% during the first quarter. SBI Securities Co. Ltd. now owns 3,773 shares of the mining company's stock valued at $29,000 after buying an additional 1,481 shares during the period. Banque Cantonale Vaudoise acquired a new stake in Hudbay Minerals during the first quarter valued at $33,000. Jones Financial Companies Lllp grew its position in Hudbay Minerals by 131.6% during the first quarter. Jones Financial Companies Lllp now owns 6,570 shares of the mining company's stock valued at $50,000 after buying an additional 3,733 shares during the period. Finally, Algert Global LLC acquired a new stake in Hudbay Minerals during the fourth quarter valued at $86,000. Institutional investors and hedge funds own 57.82% of the company's stock.

Hudbay Minerals Company Profile

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.