Hudbay Minerals (TSE:HBM) Reaches New 12-Month High – Should You Buy?

Hudbay Minerals Inc. (TSE:HBM) (NYSE:HBM) reached a new 52-week high during trading on Friday . The stock traded as high as C$28.44 and last traded at C$27.19, with a volume of 626119 shares trading hands. The stock had previously closed at C$27.25.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on HBM shares. The Goldman Sachs Group upgraded shares of Hudbay Minerals to a “buy” rating in a report on Monday, September 8th. BMO Capital Markets upped their price objective on Hudbay Minerals from C$23.00 to C$24.00 in a research report on Tuesday, November 18th. National Bankshares lifted their target price on Hudbay Minerals from C$22.00 to C$25.00 in a report on Wednesday, October 8th. Royal Bank Of Canada boosted their target price on Hudbay Minerals from C$26.00 to C$28.00 in a research note on Wednesday, December 10th. Finally, Jefferies Financial Group increased their price target on Hudbay Minerals from C$27.00 to C$31.00 in a research report on Monday, December 8th. Three analysts have rated the stock with a Strong Buy rating and nine have issued a Buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of C$24.10.

Hudbay Minerals Trading Down 0.3%

The company has a market cap of C$10.77 billion, a price-to-earnings ratio of 23.43, a PEG ratio of 3.97 and a beta of 2.07. The company has a quick ratio of 0.85, a current ratio of 1.86 and a debt-to-equity ratio of 46.39. The business’s fifty day simple moving average is C$23.97 and its two-hundred day simple moving average is C$19.28.

Hudbay Minerals (TSE:HBM) (NYSE:HBM) last announced its quarterly earnings results on Wednesday, November 12th. The mining company reported C$0.03 earnings per share for the quarter. Hudbay Minerals had a net margin of 4.23% and a return on equity of 3.74%. The firm had revenue of C$0.35 million during the quarter. On average, equities analysts predict that Hudbay Minerals Inc. will post 1.1220575 EPS for the current year.

About Hudbay Minerals

Hudbay Minerals Inc is a Canadian mining company with its operations, property developments, and exploration activities across the United States. The major mines that Hudbay operates are located in Manitoba, Canada, Arizona, United States; and Peru. The company is principally focused on the discovery, production, and marketing of base and precious metals. Hudbay produces copper concentrate, which contains copper, gold, and silver, as well as zinc metal. More than half the company’s revenue is attributable to the copper business.