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

Hudbay Minerals Inc. (TSE:HBM) (NYSE:HBM) shares reached a new 52-week high during 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 trading hands. The stock had previously closed at C$10.60.

Other equities research analysts have also issued reports about the stock. Bank of America lifted their price target on shares of Hudbay Minerals from C$8.50 to C$12.25 in a research note on Tuesday, April 9th. Canaccord Genuity Group boosted 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 research note on Wednesday, April 17th. National Bankshares boosted 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 research note on Monday, February 26th. Eight Capital upped their price target on shares of Hudbay Minerals from C$12.00 to C$14.50 and gave the company a “buy” rating in a research note on Monday. Finally, Stifel Nicolaus set a C$11.25 price target on shares of Hudbay Minerals and gave the company a “buy” rating in a research note on Tuesday, March 26th. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$11.06.

Insider Transactions at Hudbay Minerals

In other news, 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 transaction of C$117,188.99. In related news, 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 transaction of C$117,188.99. Also, 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. 0.07% of the stock is currently owned by corporate insiders.

Hudbay Minerals Price Performance

The business’s fifty day moving average is C$9.15 and its 200-day moving average is C$7.56. The company has a debt-to-equity ratio of 62.93, a current ratio of 1.25 and a quick ratio of 0.85. The firm has a market cap 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.

Hudbay Minerals (TSE:HBM) (NYSE:HBM) last posted its earnings results on Friday, February 23rd. The mining company reported C$0.27 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of C$819.90 million during the quarter, compared to the consensus estimate of C$710.46 million. On average, research analysts predict that Hudbay Minerals Inc. will post 0.681388 earnings per share for the current fiscal year.

Hudbay Minerals Dividend Announcement

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