Hudbay Minerals (TSE:HBM) Trading Up 3.3% on Analyst Upgrade

Hudbay Minerals Inc. (TSE:HBM) (NYSE:HBM) rose 3.3% on Wednesday after Raymond James raised their price target on the stock from C$10.50 to C$11.50. Raymond James currently has an outperform rating on the stock. Hudbay Minerals traded as high as C$10.82 and last traded at C$10.80. Approximately 244,374 shares were traded during trading, a decline of 79% from the average daily volume of 1,188,015 shares. The stock had previously closed at C$10.45.

A number of other research analysts also recently issued reports on HBM. Stifel Nicolaus set a C$11.25 price target on Hudbay Minerals and gave the stock a “buy” rating in a research note on Tuesday, March 26th. Canaccord Genuity Group raised their price target on Hudbay Minerals from C$10.50 to C$13.00 and gave the stock a “buy” rating in a research note on Wednesday. National Bankshares raised their price target on 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. BMO Capital Markets dropped their price target on Hudbay Minerals from C$9.50 to C$8.50 and set an “outperform” rating on the stock in a research note on Friday, December 22nd. Finally, CIBC raised their price target on Hudbay Minerals from C$11.00 to C$13.00 and gave the stock an “outperform” rating in a research note on Wednesday. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of C$10.48.

Insider Activity at Hudbay Minerals

In related news, Senior Officer Mark Zachary Gupta sold 4,915 shares of Hudbay Minerals stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of C$9.45, for a total value of C$46,446.75. In related news, Senior Officer Mark Zachary Gupta sold 4,915 shares of Hudbay Minerals stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of C$9.45, for a total value of C$46,446.75. Also, Senior Officer Luis Alfonso Santivanez Silva sold 19,499 shares of Hudbay Minerals stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of C$6.01, for a total value of C$117,188.99. Company insiders own 0.07% of the company’s stock.

Hudbay Minerals Stock Performance

The firm has a fifty day moving average of C$8.86 and a 200-day moving average of C$7.43. The stock has a market capitalization of C$3.81 billion, a price-to-earnings ratio of 36.17, a PEG ratio of 3.97 and a beta of 1.96. The company has a quick ratio of 0.85, a current ratio of 1.25 and a debt-to-equity ratio of 62.93.

Hudbay Minerals (TSE:HBM) (NYSE:HBM) last issued its quarterly earnings data on Friday, February 23rd. The mining company reported C$0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.15 by C$0.12. Hudbay Minerals had a return on equity of 3.68% and a net margin of 3.93%. The firm had revenue of C$819.90 million during the quarter, compared to analysts’ expectations of C$710.46 million. As a group, sell-side analysts anticipate that Hudbay Minerals Inc. will post 0.681388 EPS for the current year.

Hudbay Minerals Dividend Announcement

The business also recently declared a 1 dividend, which was paid on Tuesday, March 5th. Stockholders of record on Friday, March 22nd were issued a $0.02 dividend. The ex-dividend date was Friday, March 22nd. This represents a dividend yield of 0.13%. Hudbay Minerals’s dividend payout ratio (DPR) is 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.