Hudbay Minerals (NYSE:HBM) Reaches New 12-Month High at $7.10

Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) hit a new 52-week high on Thursday . The company traded as high as $7.10 and last traded at $7.06, with a volume of 180411 shares. The stock had previously closed at $6.92.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on HBM shares. Stifel Nicolaus started coverage on Hudbay Minerals in a research note on Tuesday. They issued a “buy” rating on the stock. Raymond James boosted their target price on shares of Hudbay Minerals from $9.00 to $10.50 and gave the company an “outperform” rating in a report on Wednesday, March 20th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $9.90.

Hudbay Minerals Trading Up 0.9 %

The stock has a market cap of $2.45 billion, a P/E ratio of 34.58, a PEG ratio of 1.33 and a beta of 1.94. The firm’s fifty day moving average price is $5.88 and its two-hundred day moving average price is $5.19. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.25 and a quick ratio of 0.87.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last released its quarterly earnings results on Friday, February 23rd. The mining company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.06. The firm had revenue of $602.20 million for the quarter, compared to analysts’ expectations of $552.74 million. Hudbay Minerals had a net margin of 3.95% and a return on equity of 3.86%. The business’s quarterly revenue was up 87.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.01 earnings per share. As a group, equities research analysts forecast that Hudbay Minerals Inc. will post 0.39 EPS for the current year.

Hudbay Minerals Cuts Dividend

The company also recently announced a semi-annual dividend, which was paid on Friday, March 22nd. Investors 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 yield of 0.3%. Hudbay Minerals’s dividend payout ratio is presently 5.00%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in HBM. Raymond James & Associates bought a new position in Hudbay Minerals in the first quarter valued at $131,000. Bank of New York Mellon Corp increased its stake in Hudbay Minerals by 24.0% in the first quarter. Bank of New York Mellon Corp now owns 75,817 shares of the mining company’s stock valued at $595,000 after acquiring an additional 14,683 shares during the last quarter. US Bancorp DE increased its stake in Hudbay Minerals by 122.4% in the first quarter. US Bancorp DE now owns 7,899 shares of the mining company’s stock valued at $62,000 after acquiring an additional 4,347 shares during the last quarter. HighTower Advisors LLC purchased a new stake in Hudbay Minerals during the first quarter valued at about $442,000. Finally, BlackRock Inc. boosted its position in Hudbay Minerals by 81.5% during the first quarter. BlackRock Inc. now owns 95,254 shares of the mining company’s stock valued at $748,000 after buying an additional 42,769 shares during the period. Institutional investors own 57.82% of the company’s stock.

Hudbay Minerals Company Profile

Hudbay Minerals Inc, a diversified mining company, together with its subsidiaries, 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.