HudBay Minerals (NYSE:HBM) Hits New 52-Week High - Should You Buy?

Key Points

• HudBay Minerals stock reached a new 52-week high of $13.24 during trading, finishing at $13.22 with significant volume.
• The company reported $0.19 earnings per share (EPS) for the last quarter, exceeding estimates, with a revenue of $536.40 million, showing a 26.1% increase from the previous year.
• HudBay recently announced a semi-annual dividend of $0.0073, representing a yield of 17.0%, a reduction from their previous dividend of $0.01.

HudBay Minerals Inc (NYSE:HBM - Get Free Report) TSE: HBM's share price reached a new 52-week high on Tuesday . The company traded as high as $13.24 and last traded at $13.22, with a volume of 5947373 shares traded. The stock had previously closed at $12.72.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of HudBay Minerals in a research report on Thursday, August 14th. Wall Street Zen raised HudBay Minerals from a "buy" rating to a "strong-buy" rating in a research report on Wednesday. Veritas raised HudBay Minerals to a "strong-buy" rating in a research report on Monday, July 7th. CIBC reaffirmed an "outperform" rating on shares of HudBay Minerals in a research report on Tuesday, July 15th. Finally, Raymond James Financial raised HudBay Minerals to a "moderate buy" rating in a research report on Monday, June 30th. Two investment analysts have rated the stock with a Strong Buy rating and seven have issued a Buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy".

HudBay Minerals Stock Down 0.2%

The stock has a market cap of $5.36 billion, a PE ratio of 18.55, a price-to-earnings-growth ratio of 0.33 and a beta of 1.51. The firm has a fifty day moving average of $10.88 and a 200 day moving average of $9.16. The company has a quick ratio of 0.86, a current ratio of 1.03 and a debt-to-equity ratio of 0.20.

HudBay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last posted its earnings results on Wednesday, August 13th. The mining company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.11 by $0.08. The firm had revenue of $536.40 million for the quarter, compared to analyst estimates of $558.21 million. HudBay Minerals had a return on equity of 10.73% and a net margin of 13.13%.The company's revenue for the quarter was up 26.1% compared to the same quarter last year. On average, equities research analysts anticipate that HudBay Minerals Inc will post 0.79 EPS for the current fiscal year.

HudBay Minerals Increases Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Friday, September 19th. Shareholders of record on Tuesday, September 2nd will be issued a dividend of $0.0073 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This is a positive change from HudBay Minerals's previous semi-annual dividend of $0.01. This represents a dividend yield of 17.0%. HudBay Minerals's dividend payout ratio is 1.37%.

Hedge Funds Weigh In On HudBay Minerals

Several hedge funds have recently made changes to their positions in HBM. Tower Research Capital LLC TRC grew its holdings in shares of 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 worth $25,000 after purchasing an additional 3,062 shares during the last quarter. SBI Securities Co. Ltd. grew its holdings in shares of HudBay Minerals by 64.6% during the first quarter. SBI Securities Co. Ltd. now owns 3,773 shares of the mining company's stock worth $29,000 after purchasing an additional 1,481 shares during the last quarter. Banque Cantonale Vaudoise purchased a new position in shares of HudBay Minerals during the first quarter worth about $33,000. Jones Financial Companies Lllp grew its holdings in shares of HudBay Minerals by 131.6% during the first quarter. Jones Financial Companies Lllp now owns 6,570 shares of the mining company's stock worth $50,000 after purchasing an additional 3,733 shares during the last quarter. Finally, Plato Investment Management Ltd purchased a new position in shares of HudBay Minerals during the second quarter worth about $84,000. Hedge funds and other 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.