Hudbay Minerals (TSE:HBM) Hits New 52-Week High - Should You Buy?

Key Points

• Hudbay Minerals shares hit a new 52-week high of C$19.07, with a trading volume of 417,823 shares.
• Analysts provide a consensus rating of "Buy" with a price target average of C$17.25, indicating positive growth expectations.
• The company announced a dividend of $0.01 per share with a dividend yield of 6.0%, set to be paid on September 19th.

Hudbay Minerals Inc. (TSE:HBM - Get Free Report) NYSE: HBM shares reached a new 52-week high during mid-day trading on Monday . The stock traded as high as C$19.07 and last traded at C$19.03, with a volume of 417823 shares changing hands. The stock had previously closed at C$18.75.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on HBM. National Bankshares boosted their price target on Hudbay Minerals from C$16.50 to C$17.50 and gave the company an "outperform" rating in a research note on Thursday, August 14th. Raymond James Financial boosted their price target on Hudbay Minerals from C$17.00 to C$18.50 in a report on Thursday, August 21st. Veritas raised Hudbay Minerals to a "strong-buy" rating in a report on Monday, July 7th. Scotiabank upped their target price on Hudbay Minerals from C$14.00 to C$15.50 in a report on Monday, June 16th. Finally, Desjardins upped their target price on Hudbay Minerals from C$16.00 to C$17.00 and gave the stock a "buy" rating in a report on Thursday, May 22nd. Three investment analysts have rated the stock with a Strong Buy rating and eight have issued a Buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of C$17.25.

Hudbay Minerals Trading Up 2.0%

The company has a current ratio of 1.86, a quick ratio of 0.85 and a debt-to-equity ratio of 46.39. The firm has a 50-day moving average of C$15.06 and a 200 day moving average of C$12.76. The company has a market cap of C$7.57 billion, a P/E ratio of 26.19, a price-to-earnings-growth ratio of 3.97 and a beta of 2.02.

Hudbay Minerals Dividend Announcement

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

Hudbay Minerals Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.