Hudbay Minerals (NYSE:HBM) Hits New 52-Week High at $7.10

Hudbay Minerals Inc. (NYSE:HBM - Get Free Report) TSE: HBM shares hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $7.10 and last traded at $7.06, with a volume of 180411 shares traded. The stock had previously closed at $6.92.

Analyst Ratings Changes

A number of analysts recently issued reports on HBM shares. Raymond James raised their price target on Hudbay Minerals from $9.00 to $10.50 and gave the stock an "outperform" rating in a research report on Wednesday, March 20th. Stifel Nicolaus initiated coverage on Hudbay Minerals in a research report on Tuesday. They set a "buy" rating on the stock. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, Hudbay Minerals presently has an average rating of "Moderate Buy" and an average target price of $9.90.

Hudbay Minerals Trading Up 1.2 %

The stock has a market capitalization of $2.46 billion, a price-to-earnings ratio of 35.00, a PEG ratio of 1.33 and a beta of 1.94. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.87 and a current ratio of 1.25. The business has a 50-day moving average of $5.88 and a 200-day moving average of $5.19.

Hudbay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last issued its earnings results on Friday, February 23rd. The mining company reported $0.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.14 by $0.06. The business had revenue of $602.20 million during the quarter, compared to the consensus estimate of $552.74 million. Hudbay Minerals had a return on equity of 3.86% and a net margin of 3.95%. The company's revenue for the quarter was up 87.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.01 EPS. As a group, research analysts forecast that Hudbay Minerals Inc. will post 0.39 EPS for the current year.

Hudbay Minerals Cuts Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Friday, March 22nd. Investors of record on Tuesday, March 5th were paid a $0.0074 dividend. This represents a yield of 0.3%. The ex-dividend date of this dividend was Monday, March 4th. Hudbay Minerals's payout ratio is currently 5.00%.

Institutional Investors Weigh In On Hudbay Minerals

A number of large investors have recently bought and sold shares of the stock. Tower Research Capital LLC TRC boosted its holdings in shares of Hudbay Minerals by 2,894.4% during the third quarter. Tower Research Capital LLC TRC now owns 5,330 shares of the mining company's stock worth $26,000 after purchasing an additional 5,152 shares during the last quarter. U S Global Investors Inc. purchased a new stake in shares of Hudbay Minerals during the third quarter worth about $29,000. Osaic Holdings Inc. raised its stake in Hudbay Minerals by 290.9% during the second quarter. Osaic Holdings Inc. now owns 8,185 shares of the mining company's stock valued at $39,000 after buying an additional 6,091 shares in the last quarter. Wells Fargo & Company MN raised its stake in Hudbay Minerals by 29.7% during the second quarter. Wells Fargo & Company MN now owns 10,043 shares of the mining company's stock valued at $48,000 after buying an additional 2,300 shares in the last quarter. Finally, CreativeOne Wealth LLC acquired a new stake in Hudbay Minerals during the second quarter valued at approximately $48,000. Institutional investors and hedge funds own 57.82% of the company's stock.

Hudbay Minerals Company Profile

Hudbay Minerals Inc, a diversified mining company, together with its subsidiaries, 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.