HudBay Minerals (NYSE:HBM) Hits New 1-Year High - What's Next?

Key Points

• HudBay Minerals shares hit a new 52-week high of $12.34 and are currently trading at $12.25 with an increase in share volume.
• Several analysts have rated HudBay Minerals with an "outperform" or "strong-buy" rating, indicating strong investor confidence in the company's stock.
• The company recently declared an increased semi-annual dividend, now at $0.0073 per share, reflecting a yield of 17.0% and showcasing a positive cash flow outlook.

Shares of HudBay Minerals Inc (NYSE:HBM - Get Free Report) TSE: HBM reached a new 52-week high on Wednesday . The company traded as high as $12.34 and last traded at $12.25, with a volume of 494243 shares trading hands. The stock had previously closed at $12.06.

Analysts Set New Price Targets

A number of analysts have commented on HBM shares. Scotiabank reissued an "outperform" rating on shares of HudBay Minerals in a report on Tuesday, May 13th. Veritas upgraded HudBay Minerals to a "strong-buy" rating in a research note on Monday, July 7th. Wall Street Zen downgraded HudBay Minerals from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, September 2nd. Royal Bank Of Canada restated an "outperform" rating on shares of HudBay Minerals in a research note on Thursday, August 14th. Finally, Raymond James Financial upgraded HudBay Minerals to a "moderate buy" rating in a research note on Monday, June 30th. Two investment analysts have rated the stock with a Strong Buy rating and six have given a Buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Buy".

HudBay Minerals Stock Up 2.6%

The company has a market capitalization of $5.04 billion, a PE ratio of 17.43, a P/E/G ratio of 0.31 and a beta of 1.51. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.03 and a quick ratio of 0.86. The company has a 50-day moving average of $10.62 and a two-hundred day moving average of $8.94.

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

HudBay Minerals Increases Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Friday, September 19th. Stockholders of record on Tuesday, September 2nd will be given a $0.0073 dividend. The ex-dividend date 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 (DPR) is presently 1.37%.

Institutional Investors Weigh In On HudBay Minerals

Several large investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC grew its stake 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 valued at $25,000 after buying an additional 3,062 shares during the last quarter. SBI Securities Co. Ltd. grew its stake 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 valued at $29,000 after buying an additional 1,481 shares during the last quarter. Banque Cantonale Vaudoise purchased a new stake in shares of HudBay Minerals in the first quarter valued at approximately $33,000. Jones Financial Companies Lllp boosted its holdings in shares of HudBay Minerals by 131.6% in the first quarter. Jones Financial Companies Lllp now owns 6,570 shares of the mining company's stock valued at $50,000 after purchasing an additional 3,733 shares during the period. Finally, Plato Investment Management Ltd purchased a new stake in shares of HudBay Minerals in the second quarter valued at approximately $84,000. 57.82% of the stock is owned by institutional investors.

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.