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

Hudbay Minerals Inc. (TSE:HBM) (NYSE:HBM)’s stock price reached 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 traded. The stock had previously closed at C$10.60.

A number of other equities research analysts have also recently commented on HBM. Canaccord Genuity Group increased their price objective on shares of Hudbay Minerals from C$10.50 to C$13.00 and gave the company a “buy” rating in a research note on Wednesday, April 17th. Stifel Nicolaus set a C$11.25 price objective on shares of Hudbay Minerals and gave the company a “buy” rating in a research note on Tuesday, March 26th. National Bankshares upped 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 report on Monday, February 26th. Bank of America upped their target price on shares of Hudbay Minerals from C$8.50 to C$12.25 in a report on Tuesday, April 9th. Finally, Scotiabank upped their target price 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. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of C$11.06.

Insider Activity at Hudbay Minerals

In other Hudbay Minerals news, Senior Officer Mark Zachary Gupta sold 4,915 shares of the stock in a transaction that occurred on 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 Luis Alfonso Santivanez Silva sold 19,499 shares of Hudbay Minerals 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. Also, Senior Officer Mark Zachary Gupta sold 4,915 shares of the business’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of C$9.45, for a total value of C$46,446.75. 0.07% of the stock is currently owned by insiders.

Hudbay Minerals Trading Up 6.3 %

The firm has a market cap of C$4.14 billion, a price-to-earnings ratio of 39.33, a price-to-earnings-growth ratio of 3.97 and a beta of 1.96. The business’s 50 day moving average price is C$9.23 and its 200-day moving average price is C$7.59. 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 (TSE:HBM) (NYSE:HBM) last announced its quarterly earnings data on Friday, February 23rd. The mining company reported C$0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.15 by C$0.12. The firm had revenue of C$819.90 million for the quarter, compared to analysts’ expectations of C$710.46 million. Hudbay Minerals had a return on equity of 3.68% and a net margin of 3.93%. Equities analysts expect that Hudbay Minerals Inc. will post 0.681388 EPS for the current year.

Hudbay Minerals Announces Dividend

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