HudBay Minerals (NYSE:HBM) Reaches New 1-Year High – Here’s What Happened

Shares of HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) hit a new 52-week high on Wednesday . The company traded as high as $18.36 and last traded at $17.8250, with a volume of 1009406 shares trading hands. The stock had previously closed at $17.57.

Analyst Upgrades and Downgrades

HBM has been the topic of several research analyst reports. Scotiabank reaffirmed an “outperform” rating on shares of HudBay Minerals in a research note on Tuesday, October 28th. National Bankshares restated an “outperform” rating on shares of HudBay Minerals in a report on Thursday, August 14th. Wall Street Zen downgraded shares of HudBay Minerals from a “buy” rating to a “hold” rating in a research report on Saturday, November 15th. Raymond James Financial reiterated an “outperform” rating on shares of HudBay Minerals in a research report on Friday, October 10th. Finally, Bank of America lifted their target price on shares of HudBay Minerals from $16.50 to $19.50 and gave the company a “buy” rating in a research note on Thursday, October 16th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, HudBay Minerals presently has a consensus rating of “Buy” and a consensus target price of $19.50.

HudBay Minerals Trading Up 2.1%

The company has a 50 day moving average of $16.20 and a 200 day moving average of $12.79. The firm has a market cap of $7.11 billion, a P/E ratio of 15.45 and a beta of 1.39. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.76 and a current ratio of 0.97.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last issued its quarterly earnings data on Wednesday, November 12th. The mining company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.03). The business had revenue of $346.80 million for the quarter, compared to the consensus estimate of $538.16 million. HudBay Minerals had a net margin of 22.38% and a return on equity of 8.89%. HudBay Minerals’s revenue was down 28.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.13 EPS. Analysts predict that HudBay Minerals Inc will post 0.79 EPS for the current fiscal year.

Institutional Investors Weigh In On HudBay Minerals

A number of large investors have recently bought and sold shares of the business. Allworth Financial LP raised its holdings in HudBay Minerals by 107.9% during the third quarter. Allworth Financial LP now owns 1,990 shares of the mining company’s stock valued at $30,000 after buying an additional 1,033 shares in the last quarter. Quarry LP bought a new stake in shares of HudBay Minerals during the 3rd quarter worth about $38,000. Global Retirement Partners LLC acquired a new position in shares of HudBay Minerals during the 3rd quarter valued at about $45,000. IFP Advisors Inc acquired a new position in shares of HudBay Minerals during the 3rd quarter valued at about $45,000. Finally, Banque Cantonale Vaudoise raised its stake in shares of HudBay Minerals by 513.5% in the 3rd quarter. Banque Cantonale Vaudoise now owns 3,172 shares of the mining company’s stock valued at $48,000 after acquiring an additional 2,655 shares in the last quarter. 57.82% of the stock is currently owned by institutional investors.

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.