Hudbay Minerals (TSE:HBM) Sets New 1-Year High – Here’s Why

Hudbay Minerals Inc. (TSE:HBM) (NYSE:HBM)’s stock price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as C$39.12 and last traded at C$38.95, with a volume of 1247813 shares. The stock had previously closed at C$36.79.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Stifel Nicolaus raised their target price on Hudbay Minerals from C$28.00 to C$41.00 and gave the company a “buy” rating in a report on Wednesday, February 11th. Desjardins set a C$40.00 price target on shares of Hudbay Minerals and gave the company a “buy” rating in a report on Thursday, March 5th. Canadian Imperial Bank of Commerce raised their price objective on shares of Hudbay Minerals from C$42.00 to C$46.00 in a research note on Tuesday, April 21st. ATB Cormark Capital Markets boosted their price objective on shares of Hudbay Minerals from C$26.00 to C$37.50 and gave the stock an “outperform” rating in a report on Monday, February 23rd. Finally, BMO Capital Markets upped their target price on shares of Hudbay Minerals from C$33.00 to C$39.00 in a research report on Wednesday, April 22nd. Three equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, Hudbay Minerals has a consensus rating of “Buy” and a consensus target price of C$39.22.

Hudbay Minerals Stock Performance

The firm has a fifty day moving average of C$32.51 and a 200-day moving average of C$30.52. The company has a quick ratio of 0.85, a current ratio of 1.36 and a debt-to-equity ratio of 30.14. The stock has a market capitalization of C$16.01 billion, a price-to-earnings ratio of 24.14, a PEG ratio of 3.97 and a beta of 2.34.

Hudbay Minerals (TSE:HBM) (NYSE:HBM) last posted its earnings results on Friday, May 1st. The mining company reported C$0.56 earnings per share for the quarter. Hudbay Minerals had a return on equity of 20.70% and a net margin of 27.86%.The company had revenue of C$1.05 billion for the quarter. As a group, sell-side analysts anticipate that Hudbay Minerals Inc. will post 1.1220575 EPS for the current year.

Hudbay Minerals Announces Dividend

The firm also recently disclosed a dividend, which was paid on Friday, March 27th. Investors of record on Friday, March 27th were paid a $0.01 dividend. This represents a yield of 3.0%. The ex-dividend date of this dividend was Tuesday, March 10th. Hudbay Minerals’s dividend payout ratio is presently 0.87%.

Insiders Place Their Bets

In other Hudbay Minerals news, insider Eugene Chi-Yen Lei bought 1,000 shares of the company’s stock in a transaction on Friday, March 27th. The stock was purchased at an average cost of C$26.85 per share, for a total transaction of C$26,850.00. Following the acquisition, the insider owned 195,847 shares of the company’s stock, valued at C$5,258,491.95. The trade was a 0.51% increase in their position. Company insiders own 0.07% of the company’s stock.

Hudbay Minerals Company Profile

Hudbay (TSX, NYSE: HBM) is a copper-focused critical minerals mining company with three long-life operations and a world-class pipeline of copper growth projects in tier-one mining jurisdictions of Canada, Peru and the United States. Hudbay’s operating portfolio includes the Constancia mine in Cusco (Peru), the Snow Lake operations in Manitoba (Canada) and the Copper Mountain mine in British Columbia (Canada). Copper is the primary metal produced by the Company, which is complemented by meaningful gold production and by-product zinc, silver and molybdenum.