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

Key Points

• HudBay Minerals' stock hit a new 52-week high of $13.76, showing strong trading volume of 871,603 shares.
• Wall Street analysts regard HudBay as a favorable investment, with two analysts issuing a "Strong Buy" rating and seven giving it a "Buy" rating.
• The company recently increased its semi-annual dividend, now offering $0.0073 per share, marking a yield of 17.0% despite a low 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 $13.68 and last traded at $13.76, with a volume of 871603 shares changing hands. The stock had previously closed at $13.53.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on HBM. Raymond James Financial upgraded HudBay Minerals to a "moderate buy" rating in a research report on Monday, June 30th. CIBC restated an "outperform" rating on shares of HudBay Minerals in a research report on Tuesday, July 15th. National Bankshares reissued an "outperform" rating on shares of HudBay Minerals in a research note on Thursday, August 14th. Royal Bank Of Canada reissued an "outperform" rating on shares of HudBay Minerals in a research note on Thursday, August 14th. Finally, Wall Street Zen raised HudBay Minerals from a "buy" rating to a "strong-buy" rating in a research note on Wednesday, September 10th. Two analysts have rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the stock. According to MarketBeat, HudBay Minerals presently has an average rating of "Buy".

HudBay Minerals Stock Performance

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 firm has a market cap of $5.49 billion, a price-to-earnings ratio of 19.01, a price-to-earnings-growth ratio of 0.33 and a beta of 1.51. The company has a fifty day moving average price of $10.88 and a two-hundred day moving average price of $9.16.

HudBay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last announced its earnings results on Wednesday, August 13th. The mining company reported $0.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.11 by $0.08. The company 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%.HudBay Minerals's revenue for the quarter was up 26.1% compared to the same quarter last year. As a group, equities research analysts expect that HudBay Minerals Inc will post 0.79 EPS for the current year.

HudBay Minerals Increases Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Friday, September 19th. Investors of record on Tuesday, September 2nd will be given 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 yield of 17.0%. HudBay Minerals's payout ratio is presently 1.37%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of HBM. Bank of America Corp DE raised its position in HudBay Minerals by 269.3% during the fourth quarter. Bank of America Corp DE now owns 2,409,267 shares of the mining company's stock valued at $19,515,000 after buying an additional 1,756,930 shares during the period. Cetera Investment Advisers boosted its stake in shares of HudBay Minerals by 24.3% during the 4th quarter. Cetera Investment Advisers now owns 19,224 shares of the mining company's stock worth $156,000 after acquiring an additional 3,760 shares in the last quarter. Deutsche Bank AG boosted its stake in shares of HudBay Minerals by 90.5% during the 4th quarter. Deutsche Bank AG now owns 26,582 shares of the mining company's stock worth $215,000 after acquiring an additional 12,630 shares in the last quarter. Toronto Dominion Bank boosted its stake in shares of HudBay Minerals by 366.8% during the 4th quarter. Toronto Dominion Bank now owns 1,058,952 shares of the mining company's stock worth $8,579,000 after acquiring an additional 832,111 shares in the last quarter. Finally, Temasek Holdings Private Ltd boosted its stake in shares of HudBay Minerals by 6.3% during the 4th quarter. Temasek Holdings Private Ltd now owns 1,917,271 shares of the mining company's stock worth $15,530,000 after acquiring an additional 113,500 shares in the last quarter. 57.82% of the stock is owned by institutional investors and hedge funds.

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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