Hudbay Minerals (TSE:HBM) Sets New 52-Week High After Analyst Upgrade

Hudbay Minerals Inc. (TSE:HBM) (NYSE:HBM)’s share price reached a new 52-week high during mid-day trading on Thursday after Raymond James raised their price target on the stock from C$11.50 to C$14.00. The stock traded as high as C$11.20 and last traded at C$10.99, with a volume of 1722333 shares. The stock had previously closed at C$10.60.

Several other equities analysts have also recently issued reports on HBM. National Bankshares raised their price target on 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. Stifel Nicolaus set a C$11.25 price target on Hudbay Minerals and gave the company a “buy” rating in a report on Tuesday, March 26th. Eight Capital raised their price target on Hudbay Minerals from C$12.00 to C$14.50 and gave the company a “buy” rating in a report on Monday. Bank of America boosted their price objective on shares of Hudbay Minerals from C$8.50 to C$12.25 in a report on Tuesday, April 9th. Finally, CIBC upped their target price 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 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.com, Hudbay Minerals has a consensus rating of “Moderate Buy” and an average price target of C$11.06.

Insider Activity

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 Luis Alfonso Santivanez Silva sold 19,499 shares of the firm’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 transaction of C$117,188.99. Also, Senior Officer Mark Zachary Gupta sold 4,915 shares of the firm’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. 0.07% of the stock is currently owned by corporate insiders.

Hudbay Minerals Stock Up 4.2 %

The company has a current ratio of 1.25, a quick ratio of 0.85 and a debt-to-equity ratio of 62.93. The stock has a market capitalization of C$3.87 billion, a PE ratio of 36.53, a P/E/G ratio of 3.97 and a beta of 1.96. The stock’s fifty day simple moving average is C$9.15 and its 200-day simple moving average is C$7.56.

Hudbay Minerals (TSE:HBM) (NYSE:HBM) last issued its quarterly earnings results on Friday, February 23rd. The mining company reported C$0.27 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.15 by C$0.12. The company had revenue of C$819.90 million for 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, sell-side analysts forecast that Hudbay Minerals Inc. will post 0.681388 EPS for the current fiscal year.

Hudbay Minerals Dividend Announcement

The business also recently declared a 1 dividend, which was paid on Tuesday, March 5th. Stockholders of record on Friday, March 22nd were given a dividend of $0.02 per share. 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 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.