Hudbay Minerals (TSE:HBM) Hits New 12-Month High – Time to Buy?

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

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Stifel Nicolaus boosted their target price on Hudbay Minerals from C$28.00 to C$41.00 and gave the company a “buy” rating in a research report on Wednesday, February 11th. Barclays set a C$41.00 price target on shares of Hudbay Minerals and gave the stock an “overweight” rating in a research note on Friday, May 22nd. Canaccord Genuity Group dropped their price target on shares of Hudbay Minerals from C$41.00 to C$40.00 in a research note on Monday, May 4th. BMO Capital Markets boosted their price target on shares of Hudbay Minerals from C$33.00 to C$39.00 in a research note on Wednesday, April 22nd. Finally, Canadian Imperial Bank of Commerce boosted their price target on shares of Hudbay Minerals from C$42.00 to C$46.00 in a research note on Tuesday, April 21st. Three research 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of C$39.22.

Hudbay Minerals Trading Up 6.6%

The company’s 50 day simple moving average is C$32.05 and its 200 day simple moving average is C$30.33. The firm has a market cap of C$15.58 billion, a price-to-earnings ratio of 23.49, a P/E/G ratio of 3.97 and a beta of 2.34. 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 (TSE:HBM) (NYSE:HBM) last issued its earnings results on Friday, May 1st. The mining company reported C$0.56 EPS for the quarter. The firm had revenue of C$1.05 billion during the quarter. Hudbay Minerals had a net margin of 27.86% and a return on equity of 20.70%. As a group, research analysts expect that Hudbay Minerals Inc. will post 1.1220575 earnings per share for the current fiscal year.

Hudbay Minerals Dividend Announcement

The company also recently announced a dividend, which was paid on Friday, March 27th. Investors of record on Friday, March 27th were paid 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 payout ratio is presently 0.87%.

Insider Activity at Hudbay Minerals

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

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.