HudBay Minerals (NYSE:HBM) Reaches New 12-Month High – Should You Buy?

HudBay Minerals Inc (NYSE:HBM) (TSE:HBM)’s stock price reached a new 52-week high on Monday . The stock traded as high as $14.69 and last traded at $14.76, with a volume of 221565 shares trading hands. The stock had previously closed at $14.16.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on HBM shares. CIBC reissued an “outperform” rating on shares of HudBay Minerals in a research note on Tuesday, July 15th. Wall Street Zen upgraded shares of HudBay Minerals from a “buy” rating to a “strong-buy” rating in a report on Wednesday, September 10th. The Goldman Sachs Group began coverage on shares of HudBay Minerals in a research report on Monday, September 8th. They set a “buy” rating for the company. Veritas upgraded shares of HudBay Minerals to a “strong-buy” rating in a report on Monday, July 7th. Finally, Raymond James Financial raised shares of HudBay Minerals to a “moderate buy” rating in a research report on Monday, June 30th. Two investment analysts have rated the stock with a Strong Buy rating and seven have given a Buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy”.

HudBay Minerals Price Performance

The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.86 and a current ratio of 1.03. The company has a fifty day moving average price of $11.56 and a two-hundred day moving average price of $9.63. The company has a market cap of $6.12 billion, a P/E ratio of 21.17, a PEG ratio of 0.34 and a beta of 1.51.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last issued its quarterly earnings results on Wednesday, August 13th. The mining company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.11 by $0.08. The firm had revenue of $536.40 million during the quarter, compared to analysts’ expectations of $558.21 million. HudBay Minerals had a return on equity of 10.73% and a net margin of 13.13%.The firm’s revenue for the quarter was up 26.1% compared to the same quarter last year. On average, sell-side analysts anticipate that HudBay Minerals Inc will post 0.79 earnings per share for the current fiscal year.

HudBay Minerals Increases Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Friday, September 19th. Stockholders of record on Tuesday, September 2nd were paid a dividend of $0.0073 per share. The ex-dividend date was Tuesday, September 2nd. This represents a dividend yield of 17.0%. This is a boost from HudBay Minerals’s previous semi-annual dividend of $0.01. HudBay Minerals’s dividend payout ratio (DPR) is presently 1.37%.

Institutional Investors Weigh In On HudBay Minerals

A number of large investors have recently added to or reduced their stakes in HBM. SBI Securities Co. Ltd. raised its stake 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 worth $29,000 after purchasing an additional 1,481 shares in the last quarter. Banque Cantonale Vaudoise bought a new stake in shares of HudBay Minerals during the 1st quarter valued at approximately $33,000. Jones Financial Companies Lllp lifted its stake in shares of HudBay Minerals by 131.6% in the 1st 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. Plato Investment Management Ltd acquired a new stake in shares of HudBay Minerals during the second quarter valued at about $84,000. Finally, Headlands Technologies LLC acquired a new position in HudBay Minerals in the 1st quarter valued at approximately $92,000. Institutional investors own 57.82% of the company’s stock.

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.