Hudbay Minerals (NYSE:HBM) Hits New 1-Year High at $8.13

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

Wall Street Analysts Forecast Growth

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

Hudbay Minerals Stock Up 6.3 %

The business’s fifty day simple moving average is $6.85 and its 200 day simple moving average is $5.63. The stock has a market cap of $3.03 billion, a price-to-earnings ratio of 43.18, a price-to-earnings-growth ratio of 0.82 and a beta of 1.95. The company has a current ratio of 1.25, a quick ratio of 0.87 and a debt-to-equity ratio of 0.61.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last announced its quarterly earnings data on Friday, February 23rd. The mining company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.06. Hudbay Minerals had a return on equity of 3.86% and a net margin of 3.95%. The business had revenue of $602.20 million during the quarter, compared to analysts’ expectations of $552.74 million. During the same period in the previous year, the firm earned $0.01 earnings per share. The firm’s quarterly revenue was up 87.5% compared to the same quarter last year. Equities analysts forecast that Hudbay Minerals Inc. will post 0.4 earnings per share for the current fiscal year.

Hudbay Minerals Cuts Dividend

The business also recently declared 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 of this dividend was Monday, March 4th. This represents a dividend yield of 0.3%. Hudbay Minerals’s dividend payout ratio (DPR) is presently 5.00%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of HBM. Register Financial Advisors LLC bought a new stake in Hudbay Minerals in the first quarter valued at approximately $35,000. Banque Cantonale Vaudoise increased its position 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 buying an additional 1,806 shares in the last quarter. Ballentine Partners LLC acquired a new stake in Hudbay Minerals during the 1st quarter worth $85,000. Counterpoint Mutual Funds LLC acquired a new stake in Hudbay Minerals during the 1st quarter worth $130,000. Finally, Bank of Nova Scotia lifted 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 acquiring an additional 3,979 shares in the last quarter. Institutional investors own 57.82% of the company’s stock.

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.