Hudbay Minerals (TSE:HBM) Sets New 1-Year High - Here's Why

Hudbay Minerals Inc. (TSE:HBM - Get Free Report) NYSE: HBM's share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$15.19 and last traded at C$14.91, with a volume of 1730629 shares traded. The stock had previously closed at C$14.89.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Stifel Canada upgraded Hudbay Minerals to a "strong-buy" rating in a research report on Wednesday, March 19th. Veritas raised Hudbay Minerals to a "strong-buy" rating in a research report on Monday. Scotiabank increased their price target on shares of Hudbay Minerals from C$14.00 to C$15.50 in a report on Monday, June 16th. Raymond James Financial raised shares of Hudbay Minerals to a "moderate buy" rating in a research report on Monday, June 30th. Finally, BMO Capital Markets raised shares of Hudbay Minerals to a "strong-buy" rating in a report on Tuesday, April 15th. Eight investment analysts have rated the stock with a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, Hudbay Minerals presently has a consensus rating of "Buy" and a consensus price target of C$16.23.

Hudbay Minerals Price Performance

The company has a quick ratio of 0.85, a current ratio of 1.86 and a debt-to-equity ratio of 46.39. The company has a 50 day simple moving average of C$12.80 and a 200-day simple moving average of C$11.77. The stock has a market cap of C$3.97 billion, a price-to-earnings ratio of 40.30, a PEG ratio of 3.97 and a beta of 1.83.

Insiders Place Their Bets

In other news, Director Gregory Paul Dryden sold 30,000 shares of the company's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of C$13.21, for a total value of C$396,204.00. Also, Senior Officer Mark Zachary Gupta sold 2,874 shares of the firm's stock in a transaction dated 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 a total of 34,074 shares of company stock valued at $447,953 in the last quarter. 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.