Hudbay Minerals (TSE:HBM) Trading 3.3% Higher – Should You Buy?

Hudbay Minerals Inc. (TSE:HBM) (NYSE:HBM)’s share price was up 3.3% during mid-day trading on Tuesday . The stock traded as high as C$9.93 and last traded at C$9.88. Approximately 604,324 shares were traded during trading, a decline of 68% from the average daily volume of 1,905,803 shares. The stock had previously closed at C$9.56.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on HBM. Jefferies Financial Group raised their price target on shares of Hudbay Minerals from C$14.00 to C$17.00 in a research report on Friday, April 4th. Scotiabank lowered their price objective on Hudbay Minerals from C$14.00 to C$13.50 and set an “outperform” rating on the stock in a research note on Friday, March 28th. Canaccord Genuity Group cut their price target on Hudbay Minerals from C$15.50 to C$14.00 and set a “buy” rating for the company in a report on Thursday, February 20th. Royal Bank of Canada upped their price target on shares of Hudbay Minerals from C$15.00 to C$16.00 and gave the stock an “outperform” rating in a report on Thursday, March 13th. Finally, Stifel Canada raised shares of Hudbay Minerals to a “strong-buy” rating in a research note on Wednesday, March 19th. Thirteen equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of C$15.71.

Hudbay Minerals Trading Up 2.1 %

The stock’s fifty day moving average price is C$10.92 and its two-hundred day moving average price is C$11.92. The company has a market capitalization of C$2.71 billion, a PE ratio of 27.48, a price-to-earnings-growth ratio of 3.97 and a beta of 1.83. The company has a quick ratio of 0.85, a current ratio of 1.86 and a debt-to-equity ratio of 46.39.

Hudbay Minerals Dividend Announcement

The firm also recently declared a dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 21st were paid a $0.01 dividend. This represents a yield of 0.1%. The ex-dividend date was Tuesday, March 4th. Hudbay Minerals’s payout ratio is 5.63%.

Insider Buying and Selling at Hudbay Minerals

In other news, Director Peter Gerald Jan Kukielski purchased 9,300 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The shares were bought at an average cost of C$10.76 per share, for a total transaction of C$100,068.00. Also, Senior Officer Francisco Javier Del Rio Del Aguila sold 12,959 shares of the stock in a transaction on Thursday, March 20th. The stock was sold at an average price of C$12.00, for a total value of C$155,508.00. In the last ninety days, insiders have purchased 11,800 shares of company stock valued at $127,418. 0.07% of the stock is currently owned by company insiders.

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.