Hudbay Minerals (TSE:HBM) Stock Price Up 3.3% Following Analyst Upgrade

Hudbay Minerals Inc. (TSE:HBM) (NYSE:HBM)’s share price was up 3.3% during mid-day trading on Wednesday after Raymond James raised their price target on the stock from C$10.50 to C$11.50. Raymond James currently has an outperform rating on the stock. Hudbay Minerals traded as high as C$10.82 and last traded at C$10.80. Approximately 244,374 shares were traded during mid-day trading, a decline of 79% from the average daily volume of 1,188,015 shares. The stock had previously closed at C$10.45.

HBM has been the topic of a number of other research reports. Scotiabank lifted their price objective on shares of Hudbay Minerals from C$10.50 to C$11.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 6th. Bank of America boosted their target price on shares of Hudbay Minerals from C$8.50 to C$12.25 in a research report on Tuesday, April 9th. CIBC upped their price target on shares of Hudbay Minerals from C$11.00 to C$13.00 and gave the company an “outperform” rating in a research note on Wednesday. Canaccord Genuity Group upped their price target on shares of Hudbay Minerals from C$10.50 to C$13.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, BMO Capital Markets cut their price target on shares of Hudbay Minerals from C$9.50 to C$8.50 and set an “outperform” rating on the stock in a research note on Friday, December 22nd. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$10.48.

Insider Activity

In related news, Senior Officer Luis Alfonso Santivanez Silva sold 19,499 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of C$6.01, for a total transaction of C$117,188.99. In other Hudbay Minerals news, Senior Officer Mark Zachary Gupta sold 4,915 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of C$9.45, for a total transaction of C$46,446.75. Also, Senior Officer Luis Alfonso Santivanez Silva sold 19,499 shares of the stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of C$6.01, for a total transaction of C$117,188.99. Company insiders own 0.07% of the company’s stock.

Hudbay Minerals Trading Up 3.5 %

The company has a debt-to-equity ratio of 62.93, a current ratio of 1.25 and a quick ratio of 0.85. The company has a market cap of C$3.81 billion, a PE ratio of 36.17, a price-to-earnings-growth ratio of 3.97 and a beta of 1.96. The company’s 50 day simple moving average is C$8.86 and its two-hundred day simple moving average is C$7.43.

Hudbay Minerals (TSE:HBM) (NYSE:HBM) last posted its quarterly earnings data on Friday, February 23rd. The mining company reported C$0.27 EPS for the quarter, beating the consensus estimate of C$0.15 by C$0.12. Hudbay Minerals had a net margin of 3.93% and a return on equity of 3.68%. The business had revenue of C$819.90 million during the quarter, compared to analyst estimates of C$710.46 million. As a group, sell-side analysts anticipate that Hudbay Minerals Inc. will post 0.681388 EPS for the current fiscal year.

Hudbay Minerals Announces Dividend

The firm also recently disclosed a 1 dividend, which was paid on Tuesday, March 5th. Stockholders of record on Friday, March 22nd were paid a $0.02 dividend. This represents a dividend yield of 0.13%. The ex-dividend date of this dividend was Friday, March 22nd. Hudbay Minerals’s payout ratio is 6.67%.

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.