Hudbay Minerals (NYSE:HBM) Sets New 12-Month High at $8.13

Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM)’s share price hit a new 52-week high during trading on Thursday . The company traded as high as $8.13 and last traded at $8.10, with a volume of 1259787 shares trading hands. The stock had previously closed at $7.74.

Analysts Set New Price Targets

A number of brokerages recently commented on HBM. Raymond James upped their target price on Hudbay Minerals from $9.00 to $10.50 and gave the company an “outperform” rating in a report on Wednesday, March 20th. Stifel Nicolaus began coverage on shares of Hudbay Minerals in a research note on Tuesday, March 26th. They set a “buy” rating on the stock. StockNews.com upgraded shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a research report on Friday, March 29th. Finally, Bank of America raised shares of Hudbay Minerals from a “neutral” rating to a “buy” rating and set a $9.00 target price for the company in a research report on Tuesday, April 9th. Nine equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $9.75.

Hudbay Minerals Price Performance

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 $2.86 billion, a P/E ratio of 38.70, a price-to-earnings-growth ratio of 0.79 and a beta of 1.95. The firm’s 50-day moving average is $6.73 and its 200-day moving average is $5.58.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last issued its quarterly earnings data on Friday, February 23rd. The mining company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.06. The firm had revenue of $602.20 million during the quarter, compared to the consensus estimate of $552.74 million. Hudbay Minerals had a net margin of 3.95% and a return on equity of 3.86%. The company’s revenue for the quarter was up 87.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.01 EPS. Analysts predict that Hudbay Minerals Inc. will post 0.42 EPS for the current fiscal year.

Hudbay Minerals Cuts Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Friday, March 22nd. Stockholders of record on Tuesday, March 5th were paid a $0.0074 dividend. The ex-dividend date was Monday, March 4th. This represents a dividend yield of 0.3%. Hudbay Minerals’s dividend payout ratio (DPR) is 5.00%.

Institutional Investors Weigh In On Hudbay Minerals

Several hedge funds and other institutional investors have recently modified their holdings of HBM. Register Financial Advisors LLC purchased a new stake in shares of Hudbay Minerals in the 1st quarter worth $35,000. Banque Cantonale Vaudoise increased its stake in Hudbay Minerals by 38.7% in the 1st quarter. Banque Cantonale Vaudoise now owns 6,471 shares of the mining company’s stock worth $45,000 after buying an additional 1,806 shares in the last quarter. Ballentine Partners LLC purchased a new stake in Hudbay Minerals in the 1st quarter worth $85,000. Bank of Nova Scotia increased its stake in Hudbay Minerals by 19.1% in the 3rd 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. increased its stake in Hudbay Minerals by 38.6% in the 3rd 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. 57.82% of the stock is currently owned by hedge funds and other institutional investors.

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.