HudBay Minerals (NYSE:HBM) Reaches New 1-Year High – Here’s What Happened

HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) reached a new 52-week high on Monday . The company traded as high as $10.02 and last traded at $9.92, with a volume of 1105397 shares traded. The stock had previously closed at $9.69.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on HBM. BMO Capital Markets started coverage on HudBay Minerals in a research report on Wednesday, April 16th. They set an “outperform” rating for the company. Wall Street Zen upgraded HudBay Minerals from a “hold” rating to a “buy” rating in a report on Thursday, May 22nd. Stifel Canada raised HudBay Minerals to a “strong-buy” rating in a research note on Wednesday, March 19th. Desjardins began coverage on shares of HudBay Minerals in a research report on Friday, April 4th. They set a “buy” rating on the stock. Finally, Scotiabank reiterated an “outperform” rating on shares of HudBay Minerals in a research note on Tuesday, May 13th. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $14.00.

HudBay Minerals Trading Down 1.2%

The company has a fifty day simple moving average of $8.22 and a two-hundred day simple moving average of $8.17. The company has a market capitalization of $3.91 billion, a P/E ratio of 26.02, a price-to-earnings-growth ratio of 0.29 and a beta of 1.60. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.32 and a quick ratio of 1.92.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last issued its quarterly earnings data on Monday, May 12th. The mining company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.14. HudBay Minerals had a return on equity of 8.17% and a net margin of 7.40%. The business had revenue of $594.90 million for the quarter, compared to analyst estimates of $537.36 million. During the same quarter in the prior year, the firm posted $0.22 EPS. The firm’s revenue for the quarter was up 13.3% on a year-over-year basis. On average, analysts forecast that HudBay Minerals Inc will post 0.79 earnings per share for the current fiscal year.

Institutional Trading of HudBay Minerals

Large investors have recently modified their holdings of the company. Anson Funds Management LP acquired a new position in HudBay Minerals during the 1st quarter worth $759,000. Mudita Advisors LLP increased its stake in shares of HudBay Minerals by 73.8% in the first quarter. Mudita Advisors LLP now owns 353,305 shares of the mining company’s stock worth $2,680,000 after purchasing an additional 150,000 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of HudBay Minerals by 6.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 439,687 shares of the mining company’s stock worth $3,337,000 after purchasing an additional 27,944 shares during the last quarter. Woodline Partners LP boosted its stake in HudBay Minerals by 5.9% during the 1st quarter. Woodline Partners LP now owns 2,250,425 shares of the mining company’s stock valued at $17,081,000 after purchasing an additional 125,931 shares during the period. Finally, Yaupon Capital Management LP boosted its stake in HudBay Minerals by 21.9% during the 1st quarter. Yaupon Capital Management LP now owns 1,777,347 shares of the mining company’s stock valued at $13,490,000 after purchasing an additional 318,991 shares during the period. 57.82% of the stock is owned by 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.