HudBay Minerals (NYSE:HBM) Hits New 52-Week 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 shares hit 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 traded. The stock had previously closed at $13.53.

Analyst Upgrades and Downgrades

HBM has been the topic of several recent analyst reports. The Goldman Sachs Group started coverage on HudBay Minerals in a report on Monday, September 8th. They set a "buy" rating on the stock. National Bankshares reissued an "outperform" rating on shares of HudBay Minerals in a research note on Thursday, August 14th. Raymond James Financial upgraded HudBay Minerals to a "moderate buy" rating in a report on Monday, June 30th. Royal Bank Of Canada reiterated an "outperform" rating on shares of HudBay Minerals in a report on Thursday, August 14th. Finally, Veritas raised HudBay Minerals to a "strong-buy" rating in a research report on Monday, July 7th. Two equities research analysts have rated the stock with a Strong Buy rating and seven have given a Buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy".

HudBay Minerals Trading Up 3.6%

The firm has a market cap of $5.50 billion, a price-to-earnings ratio of 19.03, a P/E/G ratio of 0.32 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's 50 day simple moving average is $11.17 and its 200 day simple moving average is $9.36.

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

HudBay Minerals Increases Dividend

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Cetera Investment Advisers raised its position 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 buying an additional 3,760 shares in the last quarter. Deutsche Bank AG raised its stake in HudBay Minerals by 90.5% during the 4th quarter. Deutsche Bank AG now owns 26,582 shares of the mining company's stock valued at $215,000 after purchasing an additional 12,630 shares during the last quarter. Two Sigma Advisers LP raised its stake in shares of HudBay Minerals by 12.6% in the 4th quarter. Two Sigma Advisers LP now owns 783,146 shares of the mining company's stock valued at $6,343,000 after buying an additional 87,500 shares in the last quarter. Woodline Partners LP increased its position in shares of HudBay Minerals by 216.5% during the 4th quarter. Woodline Partners LP now owns 2,124,494 shares of the mining company's stock worth $17,208,000 after purchasing an additional 1,453,173 shares in the last quarter. Finally, Vise Technologies Inc. bought a new stake in HudBay Minerals during the 4th quarter worth about $193,000. 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.