Hudbay Minerals (TSE:HBM) Hits New 52-Week High After Dividend Announcement

Key Points

• Hudbay Minerals reached a new 52-week high of C$17.18 after announcing a dividend of $0.01, with a dividend yield of 6.0%. This will be paid on September 19th for investors of record on that date.
• Multiple analysts have upgraded their ratings for Hudbay Minerals, with a consensus rating of "Buy" and a target price averaging C$16.95.
• The company operates major mining operations in Canada, the United States, and Peru, focusing on the discovery, production, and marketing of base and precious metals.

Hudbay Minerals Inc. (TSE:HBM - Get Free Report) NYSE: HBM shares hit a new 52-week high during mid-day trading on Wednesday following a dividend announcement from the company. The company traded as high as C$17.18 and last traded at C$17.08, with a volume of 1384079 shares trading hands. The stock had previously closed at C$16.62.

The newly announced dividend which will be paid on Friday, September 19th. Stockholders of record on Friday, September 19th will be issued a $0.01 dividend. This represents a dividend yield of 6.0%. The ex-dividend date of this dividend is Tuesday, September 2nd. Hudbay Minerals's dividend payout ratio is presently 1.96%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on HBM. Veritas raised shares of Hudbay Minerals to a "strong-buy" rating in a report on Monday, July 7th. National Bankshares increased their price target on shares of Hudbay Minerals from C$16.50 to C$17.50 and gave the stock an "outperform" rating in a report on Thursday, August 14th. Royal Bank Of Canada increased their price target on shares of Hudbay Minerals from C$16.00 to C$17.00 and gave the stock an "outperform" rating in a report on Wednesday, June 4th. TD Securities raised their target price on shares of Hudbay Minerals from C$13.00 to C$15.00 and gave the company a "buy" rating in a research note on Tuesday, June 24th. Finally, Bank of America raised their target price on shares of Hudbay Minerals from C$16.00 to C$18.00 in a research note on Friday, August 29th. Three analysts have rated the stock with a Strong Buy rating and seven have given a Buy rating to the company's stock. According to data from MarketBeat, Hudbay Minerals has a consensus rating of "Buy" and an average target price of C$16.95.

Hudbay Minerals Stock Performance

The stock has a market cap of C$6.97 billion, a PE ratio of 24.14, a P/E/G ratio of 3.97 and a beta of 2.02. The company has a fifty day moving average price of C$14.59 and a 200 day moving average price of C$12.40. The company has a quick ratio of 0.85, a current ratio of 1.86 and a debt-to-equity ratio of 46.39.

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.