HudBay Minerals (NYSE:HBM) Sets New 12-Month High – What’s Next?

HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) shares reached a new 52-week high during mid-day trading on Friday . The company traded as high as $20.30 and last traded at $20.0720, with a volume of 218915 shares changing hands. The stock had previously closed at $19.86.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on HBM. Weiss Ratings reissued a “hold (c+)” rating on shares of HudBay Minerals in a research report on Tuesday. The Goldman Sachs Group initiated coverage on HudBay Minerals in a research note on Monday, September 8th. They set a “buy” rating on the stock. Royal Bank Of Canada reiterated an “outperform” rating on shares of HudBay Minerals in a report on Monday, November 17th. Citigroup began coverage on shares of HudBay Minerals in a report on Monday, December 15th. They set a “buy” rating and a $23.00 price target for the company. Finally, Zacks Research downgraded shares of HudBay Minerals from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 11th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $21.25.

HudBay Minerals Trading Up 1.7%

The company has a fifty day moving average price of $16.91 and a 200-day moving average price of $13.67. The company has a current ratio of 0.97, a quick ratio of 0.76 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $8.02 billion, a price-to-earnings ratio of 17.42 and a beta of 1.39.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last announced its earnings results on Wednesday, November 12th. The mining company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.03). HudBay Minerals had a return on equity of 8.89% and a net margin of 22.38%.The business had revenue of $346.80 million for the quarter, compared to the consensus estimate of $538.16 million. During the same quarter in the previous year, the company posted $0.13 EPS. HudBay Minerals’s revenue for the quarter was down 28.6% on a year-over-year basis. On average, equities research analysts predict that HudBay Minerals Inc will post 0.79 EPS for the current year.

Hedge Funds Weigh In On HudBay Minerals

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

HudBay Minerals Company Profile

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.