HudBay Minerals (NYSE:HBM) Reaches New 12-Month High - Still a Buy?

HudBay Minerals Inc (NYSE:HBM - Get Free Report) TSE: HBM's share price reached a new 52-week high during trading on Monday . The company traded as high as $10.02 and last traded at $9.92, with a volume of 1105397 shares trading hands. The stock had previously closed at $9.69.

Analysts Set New Price Targets

Several equities analysts recently commented on HBM shares. Stifel Canada raised shares of HudBay Minerals to a "strong-buy" rating in a research report on Wednesday, March 19th. Desjardins initiated coverage on shares of HudBay Minerals in a research note on Friday, April 4th. They set a "buy" rating on the stock. Wall Street Zen upgraded shares of HudBay Minerals from a "hold" rating to a "buy" rating in a research note on Thursday, May 22nd. Scotiabank reissued an "outperform" rating on shares of HudBay Minerals in a report on Tuesday, May 13th. Finally, BMO Capital Markets started coverage on HudBay Minerals in a research report on Wednesday, April 16th. They issued an "outperform" rating on the stock. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $14.00.

HudBay Minerals Trading Down 1.6%

The stock has a 50-day moving average of $8.27 and a 200 day moving average of $8.19. The company has a quick ratio of 1.92, a current ratio of 2.32 and a debt-to-equity ratio of 0.42. The stock has a market cap of $3.84 billion, a PE ratio of 17.67, a price-to-earnings-growth ratio of 0.28 and a beta of 1.60.

HudBay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last released its quarterly earnings data on Monday, May 12th. The mining company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.10 by $0.14. HudBay Minerals had a net margin of 7.40% and a return on equity of 8.17%. The business had revenue of $594.90 million for the quarter, compared to the consensus estimate of $537.36 million. During the same period in the prior year, the firm earned $0.22 EPS. The business's revenue for the quarter was up 13.3% on a year-over-year basis. As a group, sell-side analysts anticipate that HudBay Minerals Inc will post 0.79 earnings per share for the current year.

Institutional Investors Weigh In On HudBay Minerals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Raymond James Financial Inc. acquired a new position in shares of HudBay Minerals in the 4th quarter valued at about $183,000. Guggenheim Capital LLC purchased a new position in HudBay Minerals during the fourth quarter valued at approximately $186,000. Alliancebernstein L.P. lifted its holdings in HudBay Minerals by 3.9% in the fourth quarter. Alliancebernstein L.P. now owns 72,730 shares of the mining company's stock valued at $589,000 after acquiring an additional 2,740 shares during the period. Barclays PLC boosted its position in HudBay Minerals by 7.9% in the 4th quarter. Barclays PLC now owns 93,286 shares of the mining company's stock worth $756,000 after purchasing an additional 6,811 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new stake in HudBay Minerals in the 4th quarter worth approximately $133,000. 57.82% of the stock is owned by institutional investors and hedge funds.

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.