Hudbay Minerals (TSE:HBM) Sets New 52-Week High After Analyst Upgrade

Key Points

• Hudbay Minerals shares hit a new 52-week high of C$24.75 after Scotiabank raised its price target from C$18.50 to C$25.00, maintaining an outperform rating.
• In addition to Scotiabank, multiple firms, including Veritas and National Bankshares, have upgraded their ratings and price targets for the stock, reflecting strong market sentiment.
• Hudbay recently declared a dividend of $0.01 per share, representing a yield of 6.0%, showcasing the company's commitment to returning value to shareholders.

Hudbay Minerals Inc. (TSE:HBM - Get Free Report) NYSE: HBM shares reached a new 52-week high on Wednesday after Scotiabank raised their price target on the stock from C$18.50 to C$25.00. Scotiabank currently has an outperform rating on the stock. Hudbay Minerals traded as high as C$24.75 and last traded at C$24.29, with a volume of 1094877 shares trading hands. The stock had previously closed at C$23.92.

Several other research analysts have also commented on the stock. Veritas upgraded shares of Hudbay Minerals to a "strong-buy" rating in a research note on Monday, July 7th. Bank of America upped their price target 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 upped their price target on shares of Hudbay Minerals from C$19.00 to C$20.00 in a research note on Wednesday, September 10th. Raymond James Financial upped their price target on shares of Hudbay Minerals from C$17.00 to C$18.50 in a research note on Thursday, August 21st. Finally, National Bankshares upped their price objective on shares of Hudbay Minerals from C$22.00 to C$25.00 in a report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Strong Buy rating and eight have given a Buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of C$18.95.

Hudbay Minerals Trading Up 1.6%

The company's 50 day moving average price is C$18.16 and its 200 day moving average price is C$14.21. The company has a debt-to-equity ratio of 46.39, a current ratio of 1.86 and a quick ratio of 0.85. The firm has a market cap of C$9.62 billion, a PE ratio of 33.29, a price-to-earnings-growth ratio of 3.97 and a beta of 2.21.

Hudbay Minerals Announces Dividend

The company also recently declared a half year 25 dividend, which was paid on Friday, September 19th. Investors of record on Friday, September 19th were paid a $0.01 dividend. The ex-dividend date was Tuesday, September 2nd. This represents a yield of 6.0%. Hudbay Minerals's payout ratio 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.

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