Hudbay Minerals (NYSE:HBM) Reaches New 52-Week High at $7.10

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

Wall Street Analysts Forecast Growth

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

Hudbay Minerals Trading Up 0.9 %

The company has a current ratio of 1.25, a quick ratio of 0.87 and a debt-to-equity ratio of 0.61. The company has a 50 day simple moving average of $5.88 and a 200 day simple moving average of $5.19. The stock has a market capitalization of $2.45 billion, a PE ratio of 34.58, a P/E/G ratio of 1.33 and a beta of 1.94.

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, beating the consensus estimate of $0.14 by $0.06. Hudbay Minerals had a net margin of 3.95% and a return on equity of 3.86%. The firm had revenue of $602.20 million during the quarter, compared to analysts’ expectations of $552.74 million. During the same quarter last year, the business earned $0.01 earnings per share. The business’s revenue for the quarter was up 87.5% compared to the same quarter last year. Analysts predict that Hudbay Minerals Inc. will post 0.39 earnings per share for the current fiscal 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 given a $0.0074 dividend. This represents a dividend yield of 0.3%. The ex-dividend date was Monday, March 4th. Hudbay Minerals’s dividend payout ratio (DPR) is currently 5.00%.

Hedge Funds Weigh In On Hudbay Minerals

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Letko Brosseau & Associates Inc. raised its position in shares of Hudbay Minerals by 0.7% in the 4th quarter. Letko Brosseau & Associates Inc. now owns 16,569,958 shares of the mining company’s stock valued at $91,609,000 after purchasing an additional 114,266 shares in the last quarter. L1 Capital Pty Ltd raised its position in shares of Hudbay Minerals by 15.1% in the 3rd quarter. L1 Capital Pty Ltd now owns 16,299,356 shares of the mining company’s stock valued at $79,378,000 after purchasing an additional 2,141,437 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Hudbay Minerals by 28.6% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,375,985 shares of the mining company’s stock valued at $51,836,000 after purchasing an additional 2,085,641 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Hudbay Minerals by 3.6% during the 3rd quarter. Vanguard Group Inc. now owns 7,550,257 shares of the mining company’s stock valued at $30,428,000 after acquiring an additional 260,223 shares in the last quarter. Finally, Invesco Ltd. raised its position in shares of Hudbay Minerals by 60.2% during the 3rd quarter. Invesco Ltd. now owns 6,998,581 shares of the mining company’s stock valued at $34,083,000 after acquiring an additional 2,630,780 shares in the last quarter. 57.82% of the stock is owned by institutional investors and hedge funds.

About Hudbay Minerals

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.