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

Key Points

• Hudbay Minerals Inc. reached a new 52-week high of C$18.72 after receiving an analyst upgrade from Goldman Sachs to a buy rating.
• Multiple analysts have increased their price targets for Hudbay, with Stifel Nicolaus setting a new target of C$20.00, indicating a strong market sentiment.
• The company declared a half-year dividend of C$0.01 per share, reflecting a 6.0% dividend yield for shareholders, with the payout ratio at 1.96%.

Hudbay Minerals Inc. (TSE:HBM - Get Free Report) NYSE: HBM reached a new 52-week high during mid-day trading on Tuesday after The Goldman Sachs Group upgraded the stock to a buy rating. The company traded as high as C$18.72 and last traded at C$18.11, with a volume of 1163283 shares traded. The stock had previously closed at C$18.21.

Other equities analysts have also recently issued research reports about the stock. Stifel Nicolaus increased their price objective on shares of Hudbay Minerals from C$17.00 to C$20.00 and gave the stock a "buy" rating in a research note on Thursday, August 14th. National Bankshares boosted their price target on Hudbay Minerals from C$16.50 to C$17.50 and gave the stock an "outperform" rating in a research note on Thursday, August 14th. Royal Bank Of Canada boosted their price target on Hudbay Minerals from C$16.00 to C$17.00 and gave the company an "outperform" rating in a report on Wednesday, June 4th. TD Securities boosted their price target on Hudbay Minerals from C$13.00 to C$15.00 and gave the stock a "buy" rating in a research report on Tuesday, June 24th. Finally, Desjardins increased their target price on Hudbay Minerals from C$16.00 to C$17.00 and gave the stock a "buy" rating in a research note on Thursday, May 22nd. Three analysts have rated the stock with a Strong Buy rating and eight have issued a Buy rating to the company. Based on data from MarketBeat.com, Hudbay Minerals presently has an average rating of "Buy" and a consensus price target of C$16.95.

Hudbay Minerals Stock Performance

The firm has a 50 day moving average of C$14.67 and a two-hundred day moving average of C$12.47. The company has a debt-to-equity ratio of 46.39, a quick ratio of 0.85 and a current ratio of 1.86. The stock has a market cap of C$7.15 billion, a P/E ratio of 24.74, a P/E/G ratio of 3.97 and a beta of 2.02.

Hudbay Minerals Dividend Announcement

The company also recently declared a half year 25 dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, September 19th will be paid a $0.01 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a dividend 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.

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