Hudbay Minerals (TSE:HBM) Trading Up 3.3% on Analyst Upgrade

Shares of Hudbay Minerals Inc. (TSE:HBM) (NYSE:HBM) traded up 3.3% during mid-day 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 traded hands during mid-day trading, a decline of 79% from the average session volume of 1,188,015 shares. The stock had previously closed at C$10.45.

A number of other equities analysts have also issued reports on the company. Canaccord Genuity Group increased their price objective on 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 Hudbay Minerals and gave the stock a “buy” rating in a report on Tuesday, March 26th. Bank of America increased their price objective on Hudbay Minerals from C$8.50 to C$12.25 in a report on Tuesday, April 9th. National Bankshares increased their price target on Hudbay Minerals from C$8.50 to C$8.75 and gave the company a “sector perform” rating in a research note on Monday, February 26th. Finally, BMO Capital Markets decreased their price target on Hudbay Minerals from C$9.50 to C$8.50 and set an “outperform” rating for the company in a research note on Friday, December 22nd. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of C$10.48.

Insider Activity

In other news, Senior Officer Mark Zachary Gupta sold 4,915 shares of the stock in a transaction 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. In other news, Senior Officer Mark Zachary Gupta sold 4,915 shares of the stock in a transaction 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. Also, Senior Officer Luis Alfonso Santivanez Silva sold 19,499 shares of the stock in a transaction 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. Insiders own 0.07% of the company’s stock.

Hudbay Minerals Price Performance

The stock has a fifty day moving average price of C$8.86 and a 200-day moving average price of C$7.43. The company has a market cap of C$3.81 billion, a PE ratio of 36.17, a price-to-earnings-growth ratio of 3.97 and a beta of 1.96. 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 released its earnings results on Friday, February 23rd. The mining company reported C$0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.15 by C$0.12. The company had revenue of C$819.90 million during the quarter, compared to analyst estimates of C$710.46 million. Hudbay Minerals had a return on equity of 3.68% and a net margin of 3.93%. On average, equities analysts expect that Hudbay Minerals Inc. will post 0.681388 earnings per share for the current year.

Hudbay Minerals Announces Dividend

The company also recently disclosed a 1 dividend, which was paid on Tuesday, March 5th. Investors of record on Friday, March 22nd were issued a dividend of $0.02 per share. The ex-dividend date of this dividend was Friday, March 22nd. This represents a dividend yield of 0.13%. Hudbay Minerals’s dividend payout ratio is 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.