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

Hudbay Minerals Inc. (TSE:HBM) (NYSE:HBM)’s share price reached a new 52-week high on Tuesday after The Goldman Sachs Group upgraded the stock to a buy rating. The stock traded as high as C$18.72 and last traded at C$18.11, with a volume of 1163283 shares. The stock had previously closed at C$18.21.

A number of other research analysts have also weighed in on the stock. Desjardins lifted their price target on shares of Hudbay Minerals from C$16.00 to C$17.00 and gave the company a “buy” rating in a research note on Thursday, May 22nd. Veritas raised shares of Hudbay Minerals to a “strong-buy” rating in a research note on Monday, July 7th. Bank of America lifted their price target on shares of Hudbay Minerals from C$16.00 to C$18.00 in a research note on Friday, August 29th. Stifel Nicolaus lifted their price target on shares of Hudbay Minerals from C$17.00 to C$20.00 and gave the company a “buy” rating in a research note on Thursday, August 14th. Finally, TD Securities lifted their price target on shares of Hudbay Minerals from C$13.00 to C$15.00 and gave the company a “buy” rating in a research note on Tuesday, June 24th. Three equities research analysts have rated the stock with a Strong Buy rating and eight have assigned a Buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of C$16.95.

Hudbay Minerals Stock Performance

The stock’s 50-day moving average price is C$14.74 and its 200 day moving average price is C$12.51. The company has a debt-to-equity ratio of 46.39, a current ratio of 1.86 and a quick ratio of 0.85. The firm has a market cap of C$7.13 billion, a P/E ratio of 24.67, a price-to-earnings-growth ratio of 3.97 and a beta of 2.02.

Hudbay Minerals Dividend Announcement

The company also recently announced a half year 25 dividend, which will be paid on Friday, September 19th. Investors of record on Friday, September 19th will be issued a dividend of $0.01 per share. This represents a yield of 6.0%. The ex-dividend date is Tuesday, September 2nd. Hudbay Minerals’s payout ratio is presently 1.96%.

About Hudbay Minerals

Hudbay Minerals Inc is a Canadian mining company with its operations, property developments, and exploration activities across the United States. The major mines that Hudbay operates are located in Manitoba, Canada, Arizona, United States; and Peru. The company is principally focused on the discovery, production, and marketing of base and precious metals.