Hudbay Minerals (NYSE:HBM) Hits New 1-Year High – Here’s Why

Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM)’s stock price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $9.86 and last traded at $9.83, with a volume of 3108185 shares changing hands. The stock had previously closed at $9.62.

Wall Street Analyst Weigh In

HBM has been the topic of a number of recent analyst reports. Scotiabank reissued an “outperform” rating on shares of Hudbay Minerals in a research note on Tuesday, May 13th. Desjardins assumed coverage on shares of Hudbay Minerals in a research report on Friday, April 4th. They set a “buy” rating for the company. Wall Street Zen raised shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a research note on Thursday, May 22nd. BMO Capital Markets started coverage on shares of Hudbay Minerals in a research report on Wednesday, April 16th. They set an “outperform” rating on the stock. Finally, Stifel Canada upgraded Hudbay Minerals to a “strong-buy” rating in a report on Wednesday, March 19th. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $14.00.

Hudbay Minerals Stock Up 2.1%

The company has a quick ratio of 1.47, a current ratio of 1.86 and a debt-to-equity ratio of 0.44. The firm has a market cap of $3.88 billion, a P/E ratio of 54.53 and a beta of 1.60. The company has a fifty day simple moving average of $7.79 and a 200-day simple moving average of $8.13.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last issued its earnings results on Monday, May 12th. The mining company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.14. The firm had revenue of $594.90 million during the quarter, compared to analyst estimates of $537.36 million. Hudbay Minerals had a net margin of 3.80% and a return on equity of 7.29%. The business’s revenue was up 13.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.22 earnings per share. On average, equities analysts anticipate that Hudbay Minerals Inc. will post 0.79 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC grew its stake in shares of Hudbay Minerals by 9,877.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,093 shares of the mining company’s stock valued at $25,000 after acquiring an additional 3,062 shares in the last quarter. SBI Securities Co. Ltd. grew its holdings in Hudbay Minerals by 64.6% in the 1st quarter. SBI Securities Co. Ltd. now owns 3,773 shares of the mining company’s stock valued at $29,000 after buying an additional 1,481 shares during the last quarter. Banque Cantonale Vaudoise bought a new position in shares of Hudbay Minerals during the 1st quarter worth about $33,000. Jones Financial Companies Lllp raised its stake in shares of Hudbay Minerals by 131.6% in the first quarter. Jones Financial Companies Lllp now owns 6,570 shares of the mining company’s stock valued at $50,000 after acquiring an additional 3,733 shares during the last quarter. Finally, Algert Global LLC acquired a new position in shares of Hudbay Minerals in the 4th quarter valued at $86,000. 57.82% of the stock is owned by hedge funds and other institutional investors.

Hudbay Minerals Company Profile

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.