Hudbay Minerals (TSE:HBM) Issues Quarterly Earnings Results

Hudbay Minerals (TSE:HBM) (NYSE:HBM) announced its earnings results on Friday. The mining company reported C$0.56 earnings per share (EPS) for the quarter, FiscalAI reports. Hudbay Minerals had a net margin of 27.86% and a return on equity of 20.70%. The company had revenue of C$1.05 billion for the quarter.

Hudbay Minerals Price Performance

Shares of HBM opened at C$31.02 on Friday. Hudbay Minerals has a 1-year low of C$10.11 and a 1-year high of C$38.94. The stock has a market cap of C$12.32 billion, a PE ratio of 21.54, a P/E/G ratio of 3.97 and a beta of 2.28. The firm has a 50-day simple moving average of C$31.61 and a two-hundred day simple moving average of C$28.81. The company has a debt-to-equity ratio of 30.14, a current ratio of 1.36 and a quick ratio of 0.85.

Hudbay Minerals Announces Dividend

The business also recently declared a dividend, which was paid on Friday, March 27th. Shareholders of record on Friday, March 27th were given a dividend of $0.01 per share. The ex-dividend date was Tuesday, March 10th. This represents a dividend yield of 3.0%. Hudbay Minerals’s dividend payout ratio (DPR) is currently 0.99%.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Citigroup lifted their price target on Hudbay Minerals from C$23.00 to C$32.50 and gave the stock a “buy” rating in a report on Wednesday, February 11th. BMO Capital Markets boosted their price objective on shares of Hudbay Minerals from C$33.00 to C$39.00 in a report on Wednesday, April 22nd. Desjardins set a C$40.00 price objective on shares of Hudbay Minerals and gave the company a “buy” rating in a report on Thursday, March 5th. Scotiabank lowered their target price on shares of Hudbay Minerals from C$37.00 to C$35.50 and set an “outperform” rating for the company in a research note on Monday, February 23rd. Finally, TD Securities lifted their price target on shares of Hudbay Minerals from C$17.00 to C$43.00 and gave the company a “buy” rating in a research report on Thursday, January 22nd. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of C$39.17.

Insider Buying and Selling at Hudbay Minerals

In related news, insider Eugene Chi-Yen Lei purchased 1,000 shares of the company’s stock in a transaction on Friday, March 27th. The stock was acquired at an average cost of C$26.85 per share, for a total transaction of C$26,850.00. Following the completion of the transaction, the insider directly owned 195,847 shares in the company, valued at approximately C$5,258,491.95. The trade was a 0.51% increase in their ownership of the stock. 0.07% of the stock is currently owned by corporate insiders.

About Hudbay Minerals

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.