Hudbay Minerals (TSE:HBM) Hits New 1-Year High - Time to Buy?

Key Points

• Hudbay Minerals' stock reached a new 52-week high at C$19.59 during mid-day trading, with a trading volume of 758,245 shares.
• Several analysts have increased their price targets for Hudbay Minerals, with the average target now at C$17.25 and the stock rated as "Buy" or "Strong Buy" by multiple firms.
• Hudbay Minerals recently announced a dividend of $0.01 per share, reflecting a dividend yield of 6.0% and a payout ratio of 1.96%.

Hudbay Minerals Inc. (TSE:HBM - Get Free Report) NYSE: HBM's stock price reached a new 52-week high on Monday . The company traded as high as C$19.59 and last traded at C$19.56, with a volume of 758245 shares. The stock had previously closed at C$19.12.

Wall Street Analysts Forecast Growth

HBM has been the topic of a number of research reports. Bank of America increased their price objective on shares of Hudbay Minerals from C$16.00 to C$18.00 in a research note on Friday, August 29th. Royal Bank Of Canada increased their price objective on shares of Hudbay Minerals from C$19.00 to C$20.00 in a research note on Wednesday, September 10th. TD Securities increased their price target on shares of Hudbay Minerals from C$13.00 to C$15.00 and gave the stock a "buy" rating in a report on Tuesday, June 24th. Veritas raised shares of Hudbay Minerals to a "strong-buy" rating in a report on Monday, July 7th. Finally, The Goldman Sachs Group raised shares of Hudbay Minerals to a "buy" rating in a report on Monday, September 8th. Three research analysts have rated the stock with a Strong Buy rating and eight have issued a Buy rating to the company. According to MarketBeat.com, Hudbay Minerals currently has an average rating of "Buy" and a consensus price target of C$17.25.

Hudbay Minerals Stock Performance

The firm's 50 day moving average is C$15.50 and its two-hundred day moving average is C$13.06. The stock has a market capitalization of C$7.69 billion, a PE ratio of 26.63, a P/E/G 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 business also recently disclosed a half year 25 dividend, which was paid on Friday, September 19th. Stockholders of record on Friday, September 19th were given a dividend of $0.01 per share. This represents a dividend yield of 6.0%. The ex-dividend date was Tuesday, September 2nd. 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.