Hudbay Minerals (TSE:HBM) Sets New 52-Week High - Still a Buy?

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

Wall Street Analyst Weigh In

HBM has been the subject of several research analyst reports. Stifel Canada raised Hudbay Minerals to a "strong-buy" rating in a research report on Wednesday, March 19th. Royal Bank Of Canada boosted their price objective on Hudbay Minerals from C$16.00 to C$17.00 and gave the company an "outperform" rating in a research note on Wednesday, June 4th. National Bankshares set a C$14.50 price objective on Hudbay Minerals and gave the company an "outperform" rating in a research note on Tuesday, June 24th. Desjardins boosted their price objective on Hudbay Minerals from C$16.00 to C$17.00 and gave the company a "buy" rating in a research note on Thursday, May 22nd. Finally, Scotiabank boosted their price objective on Hudbay Minerals from C$14.00 to C$15.50 in a research note on Monday, June 16th. Eight equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of C$16.05.

Hudbay Minerals Price Performance

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 business has a fifty day simple moving average of C$12.62 and a 200 day simple moving average of C$11.74. The stock has a market capitalization of C$4.14 billion, a P/E ratio of 42.04, a price-to-earnings-growth ratio of 3.97 and a beta of 1.83.

Insider Buying and Selling

In other Hudbay Minerals news, Director Gregory Paul Dryden sold 30,000 shares of the business's stock in a transaction that occurred on 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 stock was 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 over the last three months. Corporate 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.