Hudbay Minerals (TSE:HBM) Hits New 52-Week High on Analyst Upgrade

Hudbay Minerals Inc. (TSE:HBM) (NYSE:HBM) hit a new 52-week high on Thursday after Raymond James raised their price target on the stock from C$11.50 to C$14.00. The company traded as high as C$11.20 and last traded at C$10.99, with a volume of 1722333 shares. The stock had previously closed at C$10.60.

HBM has been the subject of a number of other reports. Bank of America increased their price objective on shares of Hudbay Minerals from C$8.50 to C$12.25 in a research note on Tuesday, April 9th. Canaccord Genuity Group increased their price objective on shares of Hudbay Minerals from C$10.50 to C$13.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th. CIBC increased their price objective on shares of Hudbay Minerals from C$11.00 to C$13.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 17th. Stifel Nicolaus set a C$11.25 target price on shares of Hudbay Minerals and gave the company a “buy” rating in a research note on Tuesday, March 26th. Finally, National Bankshares raised their target price on shares of Hudbay Minerals from C$8.50 to C$8.75 and gave the company a “sector perform” rating in a research note on Monday, February 26th. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of C$11.06.

Insider Transactions at Hudbay Minerals

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

Hudbay Minerals Price Performance

The company has a current ratio of 1.25, a quick ratio of 0.85 and a debt-to-equity ratio of 62.93. The firm has a market cap of C$3.89 billion, a price-to-earnings ratio of 37.00, a price-to-earnings-growth ratio of 3.97 and a beta of 1.96. The company’s 50-day moving average is C$9.15 and its 200-day moving average is C$7.56.

Hudbay Minerals (TSE:HBM) (NYSE:HBM) last issued its earnings results on Friday, February 23rd. The mining company reported C$0.27 earnings per share 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 firm had revenue of C$819.90 million for the quarter, compared to analyst estimates of C$710.46 million. Equities research analysts predict that Hudbay Minerals Inc. will post 0.681388 earnings per share for the current year.

Hudbay Minerals Announces Dividend

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