Hudbay Minerals (TSE:HBM) Hits New 12-Month High After Analyst Upgrade

Shares of Hudbay Minerals Inc. (TSE:HBM - Get Free Report) NYSE: HBM reached a new 52-week high on Friday after Haywood Securities raised their price target on the stock from C$13.00 to C$16.00. The stock traded as high as C$14.00 and last traded at C$13.98, with a volume of 3825367 shares traded. The stock had previously closed at C$13.17.

HBM has been the topic of several other research reports. Scotiabank increased their price target on shares of Hudbay Minerals from C$13.50 to C$14.50 and gave the stock an "outperform" rating in a research report on Wednesday. Eight Capital lifted their price target on Hudbay Minerals from C$12.00 to C$14.50 and gave the company a "buy" rating in a research note on Monday, April 22nd. Royal Bank of Canada boosted their price target on Hudbay Minerals from C$11.00 to C$17.00 and gave the stock an "outperform" rating in a report on Wednesday. Canaccord Genuity Group raised their price objective on Hudbay Minerals from C$13.00 to C$16.00 and gave the company a "buy" rating in a research note on Monday. Finally, BMO Capital Markets lifted their target price on Hudbay Minerals from C$14.00 to C$15.00 and gave the company an "outperform" rating in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of C$13.77.

Insider Activity

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 stock was sold at an average price of C$9.45, for a total transaction of C$46,446.75. In other Hudbay Minerals news, Senior Officer Mark Zachary Gupta sold 4,915 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of C$9.45, for a total transaction of C$46,446.75. Also, Senior Officer Luis Alfonso Santivanez Silva sold 19,499 shares of the firm's stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of C$6.01, for a total transaction of C$117,188.99. Insiders own 0.08% of the company's stock.

Hudbay Minerals Stock Up 6.2 %

The stock's 50-day simple moving average is C$10.62 and its 200 day simple moving average is C$8.26. The company has a quick ratio of 0.85, a current ratio of 1.25 and a debt-to-equity ratio of 62.93. The firm has a market cap of C$4.91 billion, a P/E ratio of 48.21, a PEG ratio of 3.97 and a beta of 1.96.

Hudbay Minerals (TSE:HBM - Get Free Report) NYSE: HBM last released its earnings results on Friday, February 23rd. The mining company reported C$0.27 EPS for the quarter, topping the consensus estimate of C$0.15 by C$0.12. The business had revenue of C$819.90 million during the quarter, compared to analysts' expectations of C$710.46 million. Hudbay Minerals had a return on equity of 3.68% and a net margin of 3.93%. As a group, research analysts forecast that Hudbay Minerals Inc. will post 0.7897465 EPS for the current fiscal year.

Hudbay Minerals Announces Dividend

The business also recently disclosed a 1 dividend, which was paid on Tuesday, March 5th. Stockholders of record on Friday, March 22nd were paid a $0.02 dividend. The ex-dividend date of this dividend was Friday, March 22nd. This represents a dividend yield of 0.13%. Hudbay Minerals's dividend payout ratio is currently 6.90%.

Hudbay Minerals Company Profile

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.