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

Shares of Hudbay Minerals Inc. (TSE:HBM) (NYSE:HBM) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$38.91 and last traded at C$38.40, with a volume of 1150969 shares trading hands. The stock had previously closed at C$37.19.

Analyst Ratings Changes

A number of research firms have weighed in on HBM. Canadian Imperial Bank of Commerce upped their price target on Hudbay Minerals from C$42.00 to C$46.00 in a report on Tuesday, April 21st. Canaccord Genuity Group decreased their target price on shares of Hudbay Minerals from C$41.00 to C$40.00 in a research note on Monday, May 4th. Jefferies Financial Group raised their price target on shares of Hudbay Minerals from C$31.00 to C$37.00 in a report on Monday, January 19th. Raymond James Financial boosted their price objective on shares of Hudbay Minerals from C$34.00 to C$36.00 and gave the stock an “outperform” rating in a report on Monday, January 26th. Finally, BMO Capital Markets raised their target price on Hudbay Minerals from C$33.00 to C$39.00 in a research note on Wednesday, April 22nd. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of C$39.10.

Hudbay Minerals Stock Performance

The company has a market capitalization of C$15.12 billion, a price-to-earnings ratio of 22.80, a price-to-earnings-growth ratio of 3.97 and a beta of 2.34. The company has a current ratio of 1.36, a quick ratio of 0.85 and a debt-to-equity ratio of 30.14. The stock has a 50-day simple moving average of C$31.20 and a 200-day simple moving average of C$29.31.

Hudbay Minerals (TSE:HBM) (NYSE:HBM) last issued its quarterly earnings results on Friday, May 1st. The mining company reported C$0.56 earnings per share (EPS) for the quarter. The business 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%. On average, analysts anticipate that Hudbay Minerals Inc. will post 1.1220575 earnings per share for the current year.

Hudbay Minerals Announces Dividend

The business also recently announced a dividend, which was paid on Friday, March 27th. Stockholders of record on Friday, March 27th were given a $0.01 dividend. The ex-dividend date of this dividend 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 related news, insider Eugene Chi-Yen Lei purchased 1,000 shares of Hudbay Minerals stock in a transaction dated Friday, March 27th. The shares were acquired at an average price of C$26.85 per share, with a total value of C$26,850.00. Following the completion of the transaction, the insider owned 195,847 shares of the company’s stock, 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.