Hudbay Minerals (TSE:HBM) Stock Price Up 18.1% Following Dividend Announcement

Key Points

• Hudbay Minerals' stock price increased by 18.1% after the company announced a dividend, rising from a previous close of C$13.57 to C$16.02.
• The dividend of $0.01 will be paid on September 19th to shareholders of record by September 2nd, and the company's current dividend payout ratio is 5.63%.
• An array of analysts have rated Hudbay Minerals favorably, with several upgrading their price targets and ratings, contributing to a consensus rating of "Buy" and a price target of C$16.17.

Hudbay Minerals Inc. (TSE:HBM - Get Free Report) NYSE: HBM shares rose 18.1% during trading on Wednesday following a dividend announcement from the company. The stock traded as high as C$16.69 and last traded at C$16.02. Approximately 5,009,525 shares changed hands during mid-day trading, an increase of 190% from the average daily volume of 1,724,523 shares. The stock had previously closed at C$13.57.The newly announced dividend which will be paid on Friday, September 19th. Shareholders of record on Tuesday, September 2nd will be given a $0.01 dividend. Hudbay Minerals's dividend payout ratio is currently 5.63%.

Wall Street Analyst Weigh In

HBM has been the subject of a number of analyst reports. Raymond James Financial raised Hudbay Minerals to a "moderate buy" rating in a report on Monday, June 30th. Royal Bank Of Canada raised their price target on Hudbay Minerals from C$16.00 to C$17.00 and gave the stock an "outperform" rating in a report on Wednesday, June 4th. National Bankshares lifted their price objective on Hudbay Minerals from C$14.50 to C$16.50 and gave the company an "outperform" rating in a research note on Wednesday, July 9th. BMO Capital Markets raised Hudbay Minerals to a "strong-buy" rating in a research note on Tuesday, April 15th. Finally, Desjardins lifted 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. Eight investment analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of C$16.17.

Hudbay Minerals Stock Up 17.6%

The company has a market capitalization of C$4.43 billion, a PE ratio of 44.94, a P/E/G ratio of 3.97 and a beta of 1.83. 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 company has a 50-day moving average of C$13.61 and a two-hundred day moving average of C$11.95.

Insider Transactions at Hudbay Minerals

In other news, Director Gregory Paul Dryden sold 30,000 shares of Hudbay Minerals stock in a transaction dated Friday, June 6th. The stock was sold at an average price of C$13.21, for a total value 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. Over the last three months, insiders have sold 34,074 shares of company stock worth $447,953. 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.

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