HudBay Minerals (NYSE:HBM) Hits New 52-Week High - Here's What Happened

Key Points

• HudBay Minerals' stock reached a new 52-week high of $14.08, with a current trading price of $14.02 and a trading volume of 108,317 shares.
• The company reported a 26.1% year-over-year revenue increase for the last quarter, with earnings per share surpassing analysts' expectations at $0.19.
• HudBay Minerals announced an increase in its semi-annual dividend to $0.0073 per share, reflecting a dividend yield of 17.0% and a payout ratio of 1.37%.

HudBay Minerals Inc (NYSE:HBM - Get Free Report) TSE: HBM's stock price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $14.08 and last traded at $14.02, with a volume of 108317 shares trading hands. The stock had previously closed at $13.88.

Analyst Upgrades and Downgrades

HBM has been the subject of several analyst reports. Raymond James Financial upgraded HudBay Minerals to a "moderate buy" rating in a research note on Monday, June 30th. Veritas upgraded shares of 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 report on Tuesday, July 15th. Royal Bank Of Canada reissued an "outperform" rating on shares of HudBay Minerals in a report on Thursday, August 14th. Finally, National Bankshares restated an "outperform" rating on shares of HudBay Minerals in a research report on Thursday, August 14th. Two analysts have rated the stock with a Strong Buy rating and seven have issued a Buy rating to the stock. According to data from MarketBeat, HudBay Minerals currently has an average rating of "Buy".

HudBay Minerals Stock Performance

The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.86 and a current ratio of 1.03. The company has a market cap of $5.63 billion, a PE ratio of 19.47, a PEG ratio of 0.33 and a beta of 1.51. The business's 50-day moving average is $11.25 and its 200 day moving average is $9.44.

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

HudBay Minerals Increases Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Friday, September 19th. Shareholders of record on Tuesday, September 2nd were given a $0.0073 dividend. The ex-dividend date was Tuesday, September 2nd. This is an increase from HudBay Minerals's previous semi-annual dividend of $0.01. This represents a yield of 17.0%. HudBay Minerals's dividend payout ratio is presently 1.37%.

Institutional Investors Weigh In On HudBay Minerals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. boosted 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 period. Banque Cantonale Vaudoise purchased a new stake in HudBay Minerals in the 1st quarter worth approximately $33,000. Jones Financial Companies Lllp grew its position in shares of HudBay Minerals by 131.6% in the 1st quarter. Jones Financial Companies Lllp now owns 6,570 shares of the mining company's stock worth $50,000 after buying an additional 3,733 shares during the last quarter. Plato Investment Management Ltd purchased a new position in shares of HudBay Minerals during the second quarter valued at approximately $84,000. Finally, Headlands Technologies LLC purchased a new position in shares of HudBay Minerals during the first quarter valued at approximately $92,000. 57.82% of the stock is currently owned by institutional investors.

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.