Hudbay Minerals (NYSE:HBM) Sets New 1-Year High - Time to Buy?

Shares of Hudbay Minerals Inc. (NYSE:HBM - Get Free Report) TSE: HBM hit a new 52-week high during mid-day trading on Monday . The company traded as high as $10.02 and last traded at $9.92, with a volume of 1105397 shares traded. The stock had previously closed at $9.69.

Analyst Upgrades and Downgrades

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

Hudbay Minerals Stock Up 3.4%

The company has a current ratio of 1.86, a quick ratio of 1.47 and a debt-to-equity ratio of 0.44. The firm has a 50 day moving average price of $8.08 and a 200-day moving average price of $8.16. The firm has a market cap of $3.96 billion, a price-to-earnings ratio of 55.64 and a beta of 1.60.

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

Institutional Investors Weigh In On Hudbay Minerals

Several institutional investors have recently bought and sold shares of the business. Tower Research Capital LLC TRC boosted its position in Hudbay Minerals by 9,877.4% in the 4th 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. lifted its position in shares of Hudbay Minerals by 64.6% in the 1st quarter. SBI Securities Co. Ltd. now owns 3,773 shares of the mining company's stock worth $29,000 after buying an additional 1,481 shares during the last quarter. Banque Cantonale Vaudoise acquired a new position in Hudbay Minerals in the first quarter valued at approximately $33,000. Jones Financial Companies Lllp boosted its position in Hudbay Minerals by 131.6% during the 1st 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, Algert Global LLC bought a new position in shares of Hudbay Minerals during the fourth quarter worth about $86,000. 57.82% of the stock is currently owned by hedge funds and other 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.

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