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

Shares of Hudbay Minerals Inc. (TSE:HBM) (NYSE:HBM) hit a new 52-week high during 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 traded. The stock had previously closed at C$36.79.

Wall Street Analysts Forecast Growth

HBM has been the subject of a number of analyst reports. Royal Bank Of Canada boosted their target price on shares of Hudbay Minerals from C$28.00 to C$40.00 in a research note on Thursday, March 12th. ATB Cormark Capital Markets upped their price objective on shares of Hudbay Minerals from C$26.00 to C$37.50 and gave the company an “outperform” rating in a research note on Monday, February 23rd. National Bank Financial downgraded shares of Hudbay Minerals from an “outperform” rating to a “sector perform” rating and upped their price objective for the company from C$28.00 to C$40.00 in a research note on Thursday, January 29th. Scotiabank decreased their price objective 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, Barclays set a C$41.00 price objective on shares of Hudbay Minerals and gave the company an “overweight” rating in a research note on Friday, May 22nd. Three equities 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 company. According to MarketBeat.com, Hudbay Minerals currently has an average rating of “Buy” and an average price target of C$39.22.

Hudbay Minerals Stock Up 6.6%

The company has a debt-to-equity ratio of 30.14, a current ratio of 1.36 and a quick ratio of 0.85. The company 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 firm’s 50 day simple moving average is C$32.05 and its 200-day simple moving average is C$30.33.

Hudbay Minerals (TSE:HBM) (NYSE:HBM) last released its quarterly earnings results on Friday, May 1st. The mining company reported C$0.56 earnings per share (EPS) for the quarter. The firm had revenue of C$1.05 billion for the quarter. Hudbay Minerals had a return on equity of 20.70% and a net margin of 27.86%. As a group, sell-side 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 disclosed a dividend, which was paid on Friday, March 27th. Shareholders of record on Friday, March 27th were paid a dividend of $0.01 per share. The ex-dividend date of this dividend was Tuesday, March 10th. This represents a yield of 3.0%. Hudbay Minerals’s dividend payout ratio is currently 0.87%.

Insider Buying and Selling

In related news, insider Eugene Chi-Yen Lei acquired 1,000 shares of Hudbay Minerals stock in a transaction on Friday, March 27th. The stock was purchased at an average cost of C$26.85 per share, with a total value of C$26,850.00. Following the purchase, 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.

Hudbay Minerals Company Profile

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.