Hudbay Minerals (TSE:HBM) Hits New 12-Month High - Here's What Happened

Hudbay Minerals Inc. (TSE:HBM - Get Free Report) NYSE: HBM's share price reached a new 52-week high on Thursday . The company traded as high as C$14.09 and last traded at C$13.88, with a volume of 498693 shares traded. The stock had previously closed at C$13.46.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on HBM. Desjardins upped their target price on Hudbay Minerals from C$16.00 to C$17.00 and gave the company a "buy" rating in a research report on Thursday, May 22nd. Royal Bank Of Canada boosted their price target on Hudbay Minerals from C$16.00 to C$17.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 4th. Stifel Canada raised shares of Hudbay Minerals to a "strong-buy" rating in a research report on Wednesday, March 19th. Jefferies Financial Group lifted their target price on shares of Hudbay Minerals from C$14.00 to C$17.00 in a research note on Friday, April 4th. Finally, Scotiabank boosted their target price on shares of Hudbay Minerals from C$14.00 to C$15.50 in a research report on Monday, June 16th. Eight analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of C$16.05.

Hudbay Minerals Trading Down 0.8%

The company has a debt-to-equity ratio of 46.39, a quick ratio of 0.85 and a current ratio of 1.86. The company has a market cap of C$4.01 billion, a price-to-earnings ratio of 40.75, a P/E/G ratio of 3.97 and a beta of 1.83. The company's fifty day moving average is C$11.98 and its two-hundred day moving average is C$11.64.

Insider Activity

In related news, Director Gregory Paul Dryden sold 30,000 shares of the firm's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of C$13.21, for a total transaction of C$396,204.00. Also, Senior Officer Mark Zachary Gupta sold 2,874 shares of the business's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of C$13.25, for a total value of C$38,080.50. Insiders have sold 34,074 shares of company stock valued at $447,953 in the last ninety days. Insiders own 0.07% of the company's stock.

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.