Hudbay Minerals (TSE:HBM) Hits New 52-Week High - Here's What Happened

Key Points

• Hudbay Minerals Inc. reached a new 52-week high of C$21.54, closing at C$21.20 with significant trading volume of over 1.38 million shares.
• Analysts have increased their price targets for the stock, with the average target now at C$17.25, reflecting a generally positive outlook with most ratings being "Buy" or "Strong Buy."
• The company declared a dividend of $0.01 per share, with a dividend yield of 6.0%, highlighting its commitment to returning value to shareholders.

Shares of Hudbay Minerals Inc. (TSE:HBM - Get Free Report) NYSE: HBM hit a new 52-week high on Monday . The stock traded as high as C$21.54 and last traded at C$21.20, with a volume of 1385327 shares changing hands. The stock had previously closed at C$19.74.

Analysts Set New Price Targets

A number of equities analysts have commented on HBM shares. TD Securities lifted their price target on Hudbay Minerals from C$13.00 to C$15.00 and gave the stock a "buy" rating in a research note on Tuesday, June 24th. National Bankshares lifted their target price on shares of Hudbay Minerals from C$16.50 to C$17.50 and gave the stock an "outperform" rating in a research note on Thursday, August 14th. Veritas upgraded shares of Hudbay Minerals to a "strong-buy" rating in a report on Monday, July 7th. Scotiabank raised their price target on shares of Hudbay Minerals from C$14.00 to C$15.50 in a report on Monday, June 16th. Finally, Bank of America boosted their price objective on shares of Hudbay Minerals from C$16.00 to C$18.00 in a research report on Friday, August 29th. Three analysts have rated the stock with a Strong Buy rating and eight have given a Buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of C$17.25.

Hudbay Minerals Stock Performance

The company's 50-day moving average price is C$15.95 and its 200 day moving average price is C$13.32. The stock has a market capitalization of C$8.38 billion, a PE ratio of 29.03, a PEG ratio of 3.97 and a beta of 2.02. The company has a debt-to-equity ratio of 46.39, a quick ratio of 0.85 and a current ratio of 1.86.

Hudbay Minerals Announces Dividend

The company also recently declared a half year 25 dividend, which was paid on Friday, September 19th. Investors of record on Friday, September 19th were given a dividend of $0.01 per share. The ex-dividend date was Tuesday, September 2nd. This represents a dividend yield of 6.0%. Hudbay Minerals's payout ratio is currently 1.96%.

About Hudbay Minerals

Hudbay Minerals Inc is a Canadian mining company with its operations, property developments, and exploration activities across the United States. The major mines that Hudbay operates are located in Manitoba, Canada, Arizona, United States; and Peru. The company is principally focused on the discovery, production, and marketing of base and precious metals.

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