Hudbay Minerals (NYSE:HBM) Reaches New 12-Month High at $8.96

Hudbay Minerals Inc. (NYSE:HBM - Get Free Report) TSE: HBM's stock price reached a new 52-week high during trading on Friday . The stock traded as high as $8.96 and last traded at $8.93, with a volume of 388453 shares trading hands. The stock had previously closed at $8.76.

Analysts Set New Price Targets

Several research analysts have recently issued reports on HBM shares. Raymond James upped their price objective on Hudbay Minerals from $9.00 to $10.50 and gave the stock an "outperform" rating in a research report on Wednesday, March 20th. Bank of America upgraded shares of Hudbay Minerals from a "neutral" rating to a "buy" rating and set a $9.00 price target on the stock in a research note on Tuesday, April 9th. Stifel Nicolaus started coverage on shares of Hudbay Minerals in a report on Tuesday, March 26th. They issued a "buy" rating for the company. StockNews.com upgraded shares of Hudbay Minerals from a "hold" rating to a "buy" rating in a research note on Friday, March 29th. Finally, Jefferies Financial Group initiated coverage on shares of Hudbay Minerals in a research note on Friday, May 3rd. They issued a "hold" rating and a $13.00 price objective for the company. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Hudbay Minerals currently has an average rating of "Moderate Buy" and a consensus target price of $10.21.

Hudbay Minerals Trading Up 0.3 %

The business's 50 day simple moving average is $7.43 and its 200 day simple moving average is $5.90. 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 company has a market capitalization of $3.08 billion, a price-to-earnings ratio of 43.93, a price-to-earnings-growth ratio of 0.90 and a beta of 1.88.

Hudbay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last issued its quarterly earnings results 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. Hudbay Minerals had a return on equity of 3.86% and a net margin of 3.95%. The firm had revenue of $602.20 million for the quarter, compared to analysts' expectations of $552.74 million. During the same quarter in the previous year, the firm posted $0.01 EPS. The firm's revenue for the quarter was up 87.5% on a year-over-year basis. Research analysts anticipate that Hudbay Minerals Inc. will post 0.41 EPS for the current year.

Hudbay Minerals Cuts Dividend

The business also recently declared a semi-annual dividend, which was paid on Friday, March 22nd. Investors of record on Tuesday, March 5th were issued a dividend of $0.0074 per share. This represents a dividend 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

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Register Financial Advisors LLC purchased a new position in Hudbay Minerals in the first quarter worth $35,000. Banque Cantonale Vaudoise increased its holdings in shares of Hudbay Minerals by 38.7% in the 1st quarter. Banque Cantonale Vaudoise now owns 6,471 shares of the mining company's stock valued at $45,000 after purchasing an additional 1,806 shares in the last quarter. Ballentine Partners LLC acquired a new stake in shares of Hudbay Minerals in the first quarter valued at about $85,000. Bank of Nova Scotia boosted its holdings in Hudbay Minerals by 19.1% during the third quarter. Bank of Nova Scotia now owns 24,843 shares of the mining company's stock worth $121,000 after buying an additional 3,979 shares in the last quarter. Finally, Shell Asset Management Co. boosted its holdings in Hudbay Minerals by 38.6% during the third quarter. Shell Asset Management Co. now owns 26,189 shares of the mining company's stock worth $128,000 after buying an additional 7,300 shares in the last quarter. Hedge funds and other institutional investors own 57.82% of the company's stock.

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.