Hudbay Minerals (TSE:HBM) Trading 9.5% Higher - Here's Why

Hudbay Minerals Inc. (TSE:HBM - Get Free Report) NYSE: HBM's share price traded up 9.5% during mid-day trading on Monday . The company traded as high as C$12.00 and last traded at C$11.72. 1,296,825 shares traded hands during mid-day trading, a decline of 27% from the average session volume of 1,784,032 shares. The stock had previously closed at C$10.70.

Analysts Set New Price Targets

A number of research analysts have weighed in on HBM shares. Stifel Canada raised shares of Hudbay Minerals to a "strong-buy" rating in a research report on Wednesday, March 19th. Jefferies Financial Group lifted their price target on shares of Hudbay Minerals from C$14.00 to C$17.00 in a research report on Friday, April 4th. Canaccord Genuity Group reduced their price target on shares of Hudbay Minerals from C$15.50 to C$14.00 and set a "buy" rating on the stock in a research report on Thursday, February 20th. Stifel Nicolaus lifted their price target on shares of Hudbay Minerals from C$16.00 to C$16.50 and gave the company a "buy" rating in a research report on Thursday, January 30th. Finally, Raymond James lifted their price target on shares of Hudbay Minerals from C$16.00 to C$17.00 in a research report on Friday, April 4th. Ten investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of C$15.67.

Hudbay Minerals Stock Performance

The company has a market cap of C$3.19 billion, a P/E ratio of 32.38, a price-to-earnings-growth ratio of 3.97 and a beta of 1.83. The company has a quick ratio of 0.85, a current ratio of 1.86 and a debt-to-equity ratio of 46.39. The stock's 50-day moving average price is C$10.46 and its 200 day moving average price is C$11.59.

Hudbay Minerals Dividend Announcement

The business also recently disclosed a dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 21st were paid a $0.01 dividend. The ex-dividend date was Tuesday, March 4th. This represents a dividend yield of 0.1%. Hudbay Minerals's payout ratio is 5.63%.

Insider Transactions at Hudbay Minerals

In other Hudbay Minerals news, Director Peter Gerald Jan Kukielski acquired 9,300 shares of the firm's stock in a transaction that occurred on Friday, February 21st. The stock was acquired at an average cost of C$10.76 per share, for a total transaction of C$100,068.00. Also, Senior Officer Francisco Javier Del Rio Del Aguila sold 12,959 shares of the company's stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of C$12.00, for a total value of C$155,508.00. Over the last quarter, insiders have purchased 11,800 shares of company stock worth $127,418. Insiders own 0.07% of the company's stock.

About Hudbay Minerals

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.