Hudbay Minerals (TSE:HBM) Reaches New 52-Week High - What's Next?

Key Points

• Hudbay Minerals Inc. (TSE:HBM, NYSE:HBM) reached a new 52-week high with stock trading at C$22.67, reflecting increased investor interest.
• Analysts have shown optimism by increasing their price targets, with an average target price of C$17.25 and strong buy ratings from three investment analysts.
• The company announced a dividend of $0.01 per share, resulting in a yield of 6.0%, demonstrating its commitment to returning value to shareholders.

Hudbay Minerals Inc. (TSE:HBM - Get Free Report) NYSE: HBM reached a new 52-week high on Monday . The stock traded as high as C$22.67 and last traded at C$22.17, with a volume of 616030 shares trading hands. The stock had previously closed at C$21.96.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Stifel Nicolaus upped their price target on shares of Hudbay Minerals from C$17.00 to C$20.00 and gave the stock a "buy" rating in a research report on Thursday, August 14th. Scotiabank upped their target price on Hudbay Minerals from C$14.00 to C$15.50 in a research report on Monday, June 16th. Royal Bank Of Canada increased their target price on Hudbay Minerals from C$19.00 to C$20.00 in a research note on Wednesday, September 10th. Raymond James Financial raised their target price on Hudbay Minerals from C$17.00 to C$18.50 in a report on Thursday, August 21st. Finally, TD Securities upped their price target on Hudbay Minerals from C$13.00 to C$15.00 and gave the stock a "buy" rating in a report on Tuesday, June 24th. Three investment analysts have rated the stock with a Strong Buy rating and eight have issued a Buy rating to the company. According to MarketBeat, Hudbay Minerals presently has a consensus rating of "Buy" and an average target price of C$17.25.

Hudbay Minerals Trading Down 0.5%

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 company has a market cap of C$8.65 billion, a price-to-earnings ratio of 29.93, a price-to-earnings-growth ratio of 3.97 and a beta of 2.21. The firm has a 50-day moving average price of C$16.89 and a 200 day moving average price of C$13.73.

Hudbay Minerals Dividend Announcement

The business also recently announced a half year 25 dividend, which was paid on Friday, September 19th. Shareholders of record on Friday, September 19th were given a $0.01 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a yield of 6.0%. Hudbay Minerals's dividend payout ratio (DPR) is currently 1.96%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.