Hudbay Minerals (NYSE:HBM) Reaches New 1-Year High at $7.39

Hudbay Minerals Inc. (NYSE:HBM - Get Free Report) TSE: HBM shares reached a new 52-week high during trading on Wednesday . The company traded as high as $7.39 and last traded at $7.33, with a volume of 514516 shares changing hands. The stock had previously closed at $7.16.

Analysts Set New Price Targets

A number of research firms recently commented on HBM. Stifel Nicolaus assumed coverage on Hudbay Minerals in a report on Tuesday, March 26th. They issued a "buy" rating on the stock. Raymond James upped their price target on Hudbay Minerals from $9.00 to $10.50 and gave the stock an "outperform" rating in a research note on Wednesday, March 20th. Finally, StockNews.com upgraded Hudbay Minerals from a "hold" rating to a "buy" rating in a research note on Friday, March 29th. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $9.90.

Hudbay Minerals Stock Performance

The firm has a market capitalization of $2.60 billion, a price-to-earnings ratio of 37.03, a PEG ratio of 1.31 and a beta of 1.95. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.25 and a quick ratio of 0.87. The firm has a 50 day moving average price of $6.06 and a 200-day moving average price of $5.27.

Hudbay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last announced its quarterly earnings data on Friday, February 23rd. The mining company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.06. The business had revenue of $602.20 million for the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same period last year, the firm earned $0.01 earnings per share. As a group, sell-side analysts expect that Hudbay Minerals Inc. will post 0.41 earnings per share for the current fiscal year.

Hudbay Minerals Cuts Dividend

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

Institutional Trading of Hudbay Minerals

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Letko Brosseau & Associates Inc. raised its stake in Hudbay Minerals by 0.7% in the fourth quarter. Letko Brosseau & Associates Inc. now owns 16,569,958 shares of the mining company's stock valued at $91,609,000 after buying an additional 114,266 shares in the last quarter. L1 Capital Pty Ltd increased its position in shares of Hudbay Minerals by 15.1% during the third quarter. L1 Capital Pty Ltd now owns 16,299,356 shares of the mining company's stock worth $79,378,000 after purchasing an additional 2,141,437 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Hudbay Minerals by 28.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,375,985 shares of the mining company's stock worth $51,836,000 after purchasing an additional 2,085,641 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Hudbay Minerals by 3.6% during the third quarter. Vanguard Group Inc. now owns 7,550,257 shares of the mining company's stock worth $30,428,000 after purchasing an additional 260,223 shares in the last quarter. Finally, Invesco Ltd. increased its position in shares of Hudbay Minerals by 60.2% during the third quarter. Invesco Ltd. now owns 6,998,581 shares of the mining company's stock worth $34,083,000 after purchasing an additional 2,630,780 shares in the last quarter. 57.82% of the stock is currently owned by institutional investors and hedge funds.

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.