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

Hudbay Minerals Inc. (TSE:HBM - Get Free Report) NYSE: HBM shares hit a new 52-week high during trading on Thursday after Raymond James raised their price target on the stock from C$11.50 to C$14.00. The company traded as high as C$11.20 and last traded at C$10.99, with a volume of 1722333 shares trading hands. The stock had previously closed at C$10.60.

HBM has been the topic of several other reports. National Bankshares upped their price objective on shares of Hudbay Minerals from C$8.50 to C$8.75 and gave the stock a "sector perform" rating in a research note on Monday, February 26th. Bank of America upped their price objective on shares of Hudbay Minerals from C$8.50 to C$12.25 in a research note on Tuesday, April 9th. Stifel Nicolaus set a C$11.25 price objective on shares of Hudbay Minerals and gave the stock a "buy" rating in a research note on Tuesday, March 26th. Eight Capital increased their price target on shares of Hudbay Minerals from C$12.00 to C$14.50 and gave the company a "buy" rating in a research note on Monday. Finally, Canaccord Genuity Group increased their price target on shares of Hudbay Minerals from C$10.50 to C$13.00 and gave the company a "buy" rating in a research note on Wednesday, April 17th. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of C$11.06.

Insider Activity at Hudbay Minerals

In related news, Senior Officer Mark Zachary Gupta sold 4,915 shares of the firm's stock in a transaction on Friday, March 15th. The shares were sold at an average price of C$9.45, for a total value of C$46,446.75. In other news, Senior Officer Luis Alfonso Santivanez Silva sold 19,499 shares of Hudbay Minerals stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of C$6.01, for a total value of C$117,188.99. Also, Senior Officer Mark Zachary Gupta sold 4,915 shares of Hudbay Minerals stock in a transaction dated Friday, March 15th. The shares were sold at an average price of C$9.45, for a total transaction of C$46,446.75. 0.07% of the stock is owned by insiders.

Hudbay Minerals Stock Up 4.7 %

The company has a current ratio of 1.25, a quick ratio of 0.85 and a debt-to-equity ratio of 62.93. The firm's 50 day simple moving average is C$9.15 and its two-hundred day simple moving average is C$7.56. The firm has a market cap of C$3.89 billion, a price-to-earnings ratio of 36.53, a PEG ratio of 3.97 and a beta of 1.96.

Hudbay Minerals (TSE:HBM - Get Free Report) NYSE: HBM last issued its earnings results on Friday, February 23rd. The mining company reported C$0.27 EPS for the quarter, beating the consensus estimate of C$0.15 by C$0.12. The company had revenue of C$819.90 million during the quarter, compared to analysts' expectations of C$710.46 million. Hudbay Minerals had a net margin of 3.93% and a return on equity of 3.68%. On average, equities analysts forecast that Hudbay Minerals Inc. will post 0.681388 EPS for the current year.

Hudbay Minerals Dividend Announcement

The firm also recently announced a 1 dividend, which was paid on Tuesday, March 5th. Shareholders of record on Friday, March 22nd were issued a dividend of $0.02 per share. This represents a yield of 0.13%. The ex-dividend date was Friday, March 22nd. Hudbay Minerals's payout ratio is 6.67%.

About Hudbay Minerals

Hudbay Minerals Inc, a diversified mining company, focuses on the exploration, development, operation, and optimization of properties in North and South America. It produces copper concentrates containing gold, silver, and molybdenum; gold concentrates containing zinc; zinc concentrates; molybdenum concentrates; and silver/gold doré.