Canadian Imperial Bank of Commerce Issues Positive Forecast for Hudbay Minerals (TSE:HBM) Stock Price

Hudbay Minerals (TSE:HBM) (NYSE:HBM) had its target price lifted by Canadian Imperial Bank of Commerce from C$42.00 to C$46.00 in a research report report published on Tuesday,BayStreet.CA reports.

HBM has been the topic of a number of other research reports. Raymond James Financial lifted their price objective on Hudbay Minerals from C$34.00 to C$36.00 and gave the stock an “outperform” rating in a research note on Monday, January 26th. Royal Bank Of Canada increased their target price on Hudbay Minerals from C$28.00 to C$40.00 in a research report on Thursday, March 12th. Stifel Nicolaus raised their target price on shares of Hudbay Minerals from C$28.00 to C$41.00 and gave the company a “buy” rating in a report on Wednesday, February 11th. Jefferies Financial Group boosted their price target on shares of Hudbay Minerals from C$31.00 to C$37.00 in a research report on Monday, January 19th. Finally, Bank of America upped their price target on shares of Hudbay Minerals from C$37.75 to C$44.50 in a research note on Thursday, February 26th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Hudbay Minerals has a consensus rating of “Buy” and an average target price of C$38.17.

Hudbay Minerals Stock Performance

Shares of TSE HBM opened at C$32.62 on Tuesday. The company has a market cap of C$12.96 billion, a P/E ratio of 22.65, a P/E/G ratio of 3.97 and a beta of 2.28. Hudbay Minerals has a 52-week low of C$9.67 and a 52-week high of C$38.94. The company has a debt-to-equity ratio of 33.86, a quick ratio of 0.85 and a current ratio of 0.95. The firm’s fifty day moving average is C$31.96 and its two-hundred day moving average is C$28.39.

Hudbay Minerals (TSE:HBM) (NYSE:HBM) last issued its earnings results on Friday, February 20th. The mining company reported C$0.30 earnings per share (EPS) for the quarter. The firm had revenue of C$1.50 billion for the quarter. Hudbay Minerals had a return on equity of 19.30% and a net margin of 25.80%. As a group, analysts anticipate that Hudbay Minerals will post 1.1220575 EPS for the current fiscal year.

Hudbay Minerals Announces Dividend

The business also recently announced a dividend, which was paid on Friday, March 27th. Stockholders of record on Friday, March 27th were issued a $0.01 dividend. The ex-dividend date was Tuesday, March 10th. This represents a dividend yield of 3.0%. Hudbay Minerals’s payout ratio is 0.99%.

Insider Activity at Hudbay Minerals

In related news, insider Eugene Chi-Yen Lei bought 1,000 shares of the business’s stock in a transaction dated Friday, March 27th. The shares were purchased at an average price of C$26.85 per share, with a total value of C$26,850.00. Following the transaction, the insider owned 195,847 shares in the company, valued at C$5,258,491.95. This trade represents a 0.51% increase in their position. Company insiders own 0.07% of the company’s stock.

About Hudbay Minerals

Hudbay (TSX, NYSE: HBM) is a copper-focused critical minerals mining company with three long-life operations and a world-class pipeline of copper growth projects in tier-one mining jurisdictions of Canada, Peru and the United States. Hudbay’s operating portfolio includes the Constancia mine in Cusco (Peru), the Snow Lake operations in Manitoba (Canada) and the Copper Mountain mine in British Columbia (Canada). Copper is the primary metal produced by the Company, which is complemented by meaningful gold production and by-product zinc, silver and molybdenum.