Hudbay Minerals (TSE:HBM) Stock Price Up 3.3% Following Analyst Upgrade

Hudbay Minerals Inc. (TSE:HBM) (NYSE:HBM) shares shot up 3.3% during trading on Wednesday after Raymond James raised their price target on the stock from C$10.50 to C$11.50. Raymond James currently has an outperform rating on the stock. Hudbay Minerals traded as high as C$10.82 and last traded at C$10.80. 244,374 shares were traded during trading, a decline of 79% from the average session volume of 1,188,015 shares. The stock had previously closed at C$10.45.

Other analysts also recently issued reports about the stock. Bank of America lifted their price objective on shares of Hudbay Minerals from C$8.50 to C$12.25 in a report on Tuesday, April 9th. National Bankshares lifted their price objective on shares of Hudbay Minerals from C$8.50 to C$8.75 and gave the stock a “sector perform” rating in a report on Monday, February 26th. Canaccord Genuity Group lifted 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 report on Wednesday. Stifel Nicolaus set a C$11.25 price objective on shares of Hudbay Minerals and gave the stock a “buy” rating in a report on Tuesday, March 26th. Finally, CIBC lifted 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 report on Wednesday. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$10.48.

Insider Buying and Selling at Hudbay Minerals

In other Hudbay Minerals news, Senior Officer Mark Zachary Gupta sold 4,915 shares of the business’s stock in a transaction dated 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 the company’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 value of C$117,188.99. Also, Senior Officer Mark Zachary Gupta sold 4,915 shares of the company’s 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. Corporate insiders own 0.07% of the company’s stock.

Hudbay Minerals Trading Up 3.5 %

The stock has a market cap of C$3.81 billion, a P/E ratio of 36.17, a P/E/G ratio of 3.97 and a beta of 1.96. The firm’s 50 day moving average price is C$8.86 and its 200-day moving average price is C$7.43. The company has a debt-to-equity ratio of 62.93, a current ratio of 1.25 and a quick ratio of 0.85.

Hudbay Minerals (TSE:HBM) (NYSE:HBM) last issued its quarterly earnings data 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 company had revenue of C$819.90 million for the quarter, compared to the consensus estimate of C$710.46 million. As a group, equities research analysts forecast that Hudbay Minerals Inc. will post 0.681388 earnings per share for the current year.

Hudbay Minerals Dividend Announcement

The firm also recently declared 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 was Friday, March 22nd. This represents a yield of 0.13%. Hudbay Minerals’s payout ratio is presently 6.67%.

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.