Raymond James Raises Hudbay Minerals (TSE:HBM) Price Target to C$14.00

Hudbay Minerals (TSE:HBM) (NYSE:HBM) had its target price increased by Raymond James from C$11.50 to C$14.00 in a research note released on Wednesday morning, BayStreet.CA reports. Raymond James also issued estimates for Hudbay Minerals’ Q2 2024 earnings at $0.01 EPS, Q4 2024 earnings at $0.22 EPS and FY2025 earnings at $1.15 EPS.

A number of other brokerages also recently weighed in on HBM. Stifel Nicolaus set a C$11.25 target price on shares of Hudbay Minerals and gave the stock a buy rating in a report on Tuesday, March 26th. Eight Capital upped their price objective on shares of Hudbay Minerals from C$12.00 to C$14.50 and gave the company a buy rating in a report on Monday. Scotiabank upped their price objective on shares of Hudbay Minerals from C$10.50 to C$11.00 and gave the company an outperform rating in a report on Tuesday, February 6th. CIBC upped their price objective on shares of Hudbay Minerals from C$11.00 to C$13.00 and gave the company an outperform rating in a report on Wednesday, April 17th. Finally, Canaccord Genuity Group boosted their target price on shares of Hudbay Minerals from C$10.50 to C$13.00 and gave the company a buy rating in a research report on Wednesday, April 17th. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, Hudbay Minerals presently has an average rating of Moderate Buy and an average target price of C$11.06.

Hudbay Minerals Stock Performance

Shares of HBM opened at C$10.60 on Wednesday. The company has a debt-to-equity ratio of 62.93, a quick ratio of 0.85 and a current ratio of 1.25. Hudbay Minerals has a twelve month low of C$5.46 and a twelve month high of C$11.05. The firm has a market cap of C$3.72 billion, a P/E ratio of 35.33, a PEG ratio of 3.97 and a beta of 1.96. The firm’s 50 day moving average price is C$9.08 and its two-hundred day moving average price is C$7.54.

Hudbay Minerals (TSE:HBM) (NYSE:HBM) last posted its quarterly earnings data on Friday, February 23rd. The mining company reported C$0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of C$819.90 million for the quarter, compared to the consensus estimate of C$710.46 million. On average, analysts forecast that Hudbay Minerals will post 0.681388 EPS for the current fiscal year.

Hudbay Minerals Dividend Announcement

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

Insider Transactions at Hudbay Minerals

In other 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 value of C$46,446.75. In other 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 value 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.

About Hudbay Minerals

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.