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

Shares of Hudbay Minerals Inc. (TSE:HBM) (NYSE:HBM) hit 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.

A number of other analysts also recently weighed in on the company. Eight Capital lifted their price target on Hudbay Minerals from C$12.00 to C$14.50 and gave the company a “buy” rating in a research note on Monday. CIBC lifted their price target on Hudbay Minerals from C$11.00 to C$13.00 and gave the company an “outperform” rating in a research note on Wednesday, April 17th. Bank of America lifted their price target on Hudbay Minerals from C$8.50 to C$12.25 in a research note on Tuesday, April 9th. Stifel Nicolaus set a C$11.25 price objective on Hudbay Minerals and gave the stock a “buy” rating in a report on Tuesday, March 26th. Finally, National Bankshares lifted their price objective on Hudbay Minerals from C$8.50 to C$8.75 and gave the stock a “sector perform” rating in a report on Monday, February 26th. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of C$11.06.

Insider Transactions at Hudbay Minerals

In other news, Senior Officer Mark Zachary Gupta sold 4,915 shares of the business’s stock in a transaction 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 other news, Senior Officer Mark Zachary Gupta sold 4,915 shares of Hudbay Minerals stock in a transaction 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 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. Insiders own 0.07% of the company’s stock.

Hudbay Minerals Stock Performance

The stock has a 50-day simple moving average of C$9.15 and a 200-day simple moving average of C$7.56. The company has a debt-to-equity ratio of 62.93, a current ratio of 1.25 and a quick ratio of 0.85. The stock has a market cap of C$3.89 billion, a PE ratio of 37.00, a P/E/G ratio of 3.97 and a beta of 1.96.

Hudbay Minerals (TSE:HBM) (NYSE:HBM) last posted its quarterly earnings results on Friday, February 23rd. The mining company reported C$0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of C$710.46 million. Equities analysts predict that Hudbay Minerals Inc. will post 0.681388 earnings per share for the current fiscal year.

Hudbay Minerals Dividend Announcement

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