Hudbay Minerals (TSE:HBM) Reaches New 52-Week High on Analyst Upgrade

Hudbay Minerals Inc. (TSE:HBM) (NYSE:HBM)’s share price reached a new 52-week high 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.

Several other research analysts have also weighed in on HBM. Eight Capital upped their price objective 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, April 22nd. Bank of America increased their price target on shares of Hudbay Minerals from C$8.50 to C$12.25 in a research note on Tuesday, April 9th. National Bankshares increased their price target 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. CIBC increased their price target on shares of Hudbay Minerals from C$11.00 to C$13.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 17th. Finally, Canaccord Genuity Group increased their price target 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. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of C$11.06.

Insider Buying and Selling at Hudbay Minerals

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

Hudbay Minerals Stock Up 6.3 %

The stock has a market capitalization of C$4.14 billion, a P/E ratio of 39.33, a P/E/G ratio of 3.97 and a beta of 1.96. The firm’s fifty day moving average is C$9.23 and its 200-day moving average is C$7.59. The company has a current ratio of 1.25, a quick ratio of 0.85 and a debt-to-equity ratio of 62.93.

Hudbay Minerals (TSE:HBM) (NYSE:HBM) last announced its quarterly earnings results on Friday, February 23rd. The mining company reported C$0.27 earnings per share (EPS) for the quarter, beating 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. As a group, equities research analysts predict that Hudbay Minerals Inc. will post 0.681388 earnings per share for the current year.

Hudbay Minerals Announces Dividend

The company also recently declared a 1 dividend, which was paid on Tuesday, March 5th. Investors of record on Friday, March 22nd were issued a dividend of $0.02 per share. This represents a yield of 0.13%. The ex-dividend date of this dividend was Friday, March 22nd. Hudbay Minerals’s dividend payout ratio is currently 6.67%.

Hudbay Minerals Company Profile

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.