HudBay Minerals (NYSE:HBM) Trading 7.8% Higher – Should You Buy?

HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) shot up 7.8% during mid-day trading on Tuesday . The stock traded as high as $22.75 and last traded at $22.5010. 830,768 shares traded hands during mid-day trading, a decline of 86% from the average session volume of 5,870,404 shares. The stock had previously closed at $20.87.

Analyst Upgrades and Downgrades

Several research analysts recently commented on HBM shares. Weiss Ratings raised HudBay Minerals from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, June 29th. Citigroup reaffirmed a “positive” rating on shares of HudBay Minerals in a research report on Wednesday. Bank of America decreased their price objective on HudBay Minerals from $33.50 to $29.50 and set a “buy” rating for the company in a research note on Thursday, July 9th. Wall Street Zen downgraded HudBay Minerals from a “buy” rating to a “hold” rating in a research report on Sunday. Finally, Barclays restated an “overweight” rating and set a $32.00 target price on shares of HudBay Minerals in a research note on Wednesday. Eleven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $31.33.

HudBay Minerals Trading Down 2.3%

The company has a debt-to-equity ratio of 0.14, a current ratio of 1.36 and a quick ratio of 1.20. The business’s 50 day moving average is $25.42 and its 200 day moving average is $24.03. The stock has a market cap of $9.76 billion, a price-to-earnings ratio of 13.24, a P/E/G ratio of 0.33 and a beta of 1.48.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last posted its quarterly earnings results on Friday, May 1st. The mining company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.06. The company had revenue of $757.30 million for the quarter, compared to analysts’ expectations of $684.73 million. HudBay Minerals had a return on equity of 10.04% and a net margin of 27.75%.HudBay Minerals’s quarterly revenue was up 27.3% on a year-over-year basis. During the same period last year, the firm earned $0.24 earnings per share. As a group, equities analysts expect that HudBay Minerals Inc will post 1.61 earnings per share for the current fiscal year.

HudBay Minerals Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Tuesday, June 9th were issued a $0.01 dividend. The ex-dividend date was Tuesday, June 9th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.2%. HudBay Minerals’s dividend payout ratio is presently 1.81%.

Institutional Investors Weigh In On HudBay Minerals

Several institutional investors have recently added to or reduced their stakes in the business. Allworth Financial LP increased its stake in HudBay Minerals by 107.9% in the third quarter. Allworth Financial LP now owns 1,990 shares of the mining company’s stock valued at $30,000 after purchasing an additional 1,033 shares during the last quarter. Quarry LP purchased a new stake in shares of HudBay Minerals during the 3rd quarter worth approximately $38,000. IFP Advisors Inc purchased a new stake in shares of HudBay Minerals during the 3rd quarter worth approximately $45,000. Banque Cantonale Vaudoise boosted its holdings 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 buying an additional 2,655 shares in the last quarter. Finally, Jones Financial Companies Lllp boosted its holdings in shares of HudBay Minerals by 131.6% in the 1st quarter. Jones Financial Companies Lllp now owns 6,570 shares of the mining company’s stock valued at $50,000 after buying an additional 3,733 shares in the last quarter. Hedge funds and other institutional investors own 57.82% of the company’s stock.

About HudBay Minerals

HudBay Minerals Inc is a Canada-based mining company engaged in the exploration, development and production of base and precious metals. Its primary products include copper, zinc, gold and silver concentrates, which are sold to smelters and refiners worldwide. The company’s operations span multiple stages of the mining cycle, from resource definition and feasibility studies to mine construction, extraction and reclamation.

The company traces its roots back to 1927, when it was established as Hudson Bay Mining & Smelting Co Limited.