Hudbay Minerals (NYSE:HBM) Reaches New 12-Month High at $6.18

Hudbay Minerals is a Canadian mining company that operates in various countries including Canada, Mexico, and Peru. The company produces copper, zinc, gold, silver, lead, and other metals through its subsidiaries.

On August 19, 2021, Hudbay Minerals announced that its common stock had reached a new 12-month high of $6.18 on the New York Stock Exchange (NYSE) under the ticker symbol HBM. This represents an increase of approximately 37% from the previous 12-month low of $4.50, which was recorded on October 29, 2020.

The company's strong financial performance and growth prospects have contributed to its recent stock price appreciation. In its second quarter ended June 30, 2021, Hudbay Minerals reported net income of $47 million, a significant improvement from the same period last year when it recorded a net loss of $56 million. The company's revenue for the quarter was $897 million, up from $723 million in the same period last year.

Hudbay Minerals has also been benefiting from rising commodity prices, particularly copper and zinc, which are used in a variety of industries including construction, electronics, and transportation. The company's operations in Peru, where it owns and operates several large-scale copper mines, have been particularly successful due to the country's favorable mining regulations and abundant mineral resources.

Overall, Hudbay Minerals' strong financial performance and growth prospects, coupled with rising commodity prices, have contributed to its recent stock price appreciation and new 12-month high on the NYSE.