Raymond James Raises Hudbay Minerals (TSE:HBM) Price Target to C$14.00

Hudbay Minerals (TSE:HBM) (NYSE:HBM) had its target price raised by Raymond James from C$11.50 to C$14.00 in a report published on Wednesday, BayStreet.CA reports. Raymond James also issued estimates for Hudbay Minerals’ Q2 2024 earnings at $0.01 EPS, Q2 2024 earnings at $0.11 EPS, Q3 2024 earnings at $0.14 EPS, Q4 2024 earnings at $0.33 EPS, Q4 2024 earnings at $0.22 EPS, FY2024 earnings at $0.67 EPS and FY2025 earnings at $1.15 EPS.

Several other brokerages also recently issued reports on HBM. Bank of America raised their price objective on shares of Hudbay Minerals from C$8.50 to C$12.25 in a research note on Tuesday, April 9th. Eight Capital raised their price objective on shares of Hudbay Minerals from C$12.00 to C$14.50 and gave the stock a buy rating in a research note on Monday, April 22nd. Stifel Nicolaus set a C$11.25 price objective on shares of Hudbay Minerals and gave the stock a buy rating in a research note on Tuesday, March 26th. Scotiabank raised their price objective on shares of Hudbay Minerals from C$10.50 to C$11.00 and gave the stock an outperform rating in a research note on Tuesday, February 6th. Finally, CIBC lifted their price target on shares of Hudbay Minerals from C$11.00 to C$13.00 and gave the company an outperform rating in a research note on Wednesday, April 17th. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of C$11.06.

Hudbay Minerals Stock Up 6.3 %

Shares of TSE:HBM opened at C$11.80 on Wednesday. The company has a current ratio of 1.25, a quick ratio of 0.85 and a debt-to-equity ratio of 62.93. Hudbay Minerals has a 12 month low of C$5.46 and a 12 month high of C$11.82. The company has a 50-day moving average price of C$9.23 and a 200 day moving average price of C$7.59. The company has a market cap of C$4.14 billion, a price-to-earnings ratio of 39.33, a PEG ratio of 3.97 and a beta of 1.96.

Hudbay Minerals (TSE:HBM) (NYSE:HBM) last announced its quarterly earnings results on Friday, February 23rd. The mining company reported C$0.27 EPS for the quarter, beating analysts’ consensus estimates of C$0.15 by C$0.12. The firm had revenue of C$819.90 million during the quarter, compared to the consensus estimate of C$710.46 million. Hudbay Minerals had a net margin of 3.93% and a return on equity of 3.68%. As a group, equities research analysts predict that Hudbay Minerals will post 0.681388 earnings per share for the current year.

Hudbay Minerals Announces Dividend

The firm 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. This represents a yield of 0.13%. The ex-dividend date of this dividend was Friday, March 22nd. Hudbay Minerals’s payout ratio is 6.67%.

Insider Activity at Hudbay Minerals

In related news, Senior Officer Mark Zachary Gupta sold 4,915 shares of Hudbay Minerals 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 transaction of C$46,446.75. In other Hudbay Minerals news, Senior Officer Mark Zachary Gupta sold 4,915 shares of Hudbay Minerals stock in a transaction 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. Also, Senior Officer Luis Alfonso Santivanez Silva sold 19,499 shares of Hudbay Minerals stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of C$6.01, for a total transaction of C$117,188.99. 0.07% of the stock is currently owned by corporate 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.