Hudbay Minerals (TSE:HBM) Hits New 1-Year High – Should You Buy?

Hudbay Minerals Inc. (TSE:HBM) (NYSE:HBM)’s share price hit a new 52-week high during trading on Wednesday . The company traded as high as C$38.91 and last traded at C$38.40, with a volume of 1150969 shares. The stock had previously closed at C$37.19.

Wall Street Analyst Weigh In

HBM has been the subject of a number of recent research reports. Stifel Nicolaus lifted their target price on Hudbay Minerals from C$28.00 to C$41.00 and gave the stock a “buy” rating in a report on Wednesday, February 11th. TD Securities lifted their target price on Hudbay Minerals from C$17.00 to C$43.00 and gave the stock a “buy” rating in a report on Thursday, January 22nd. Scotiabank dropped their target price on Hudbay Minerals from C$37.00 to C$35.50 and set an “outperform” rating for the company in a report on Monday, February 23rd. Royal Bank Of Canada lifted their target price on Hudbay Minerals from C$28.00 to C$40.00 in a report on Thursday, March 12th. Finally, BMO Capital Markets boosted their price objective on Hudbay Minerals from C$33.00 to C$39.00 in a report on Wednesday, April 22nd. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Hudbay Minerals presently has a consensus rating of “Buy” and a consensus target price of C$39.10.

Hudbay Minerals Trading Down 8.2%

The company has a debt-to-equity ratio of 30.14, a quick ratio of 0.85 and a current ratio of 1.36. The stock has a fifty day moving average of C$31.29 and a 200-day moving average of C$29.53. The company has a market cap of C$13.64 billion, a PE ratio of 20.57, a PEG ratio of 3.97 and a beta of 2.34.

Hudbay Minerals (TSE:HBM) (NYSE:HBM) last issued its earnings results on Friday, May 1st. The mining company reported C$0.56 earnings per share for the quarter. The business had revenue of C$1.05 billion during the quarter. Hudbay Minerals had a return on equity of 20.70% and a net margin of 27.86%. Sell-side analysts anticipate that Hudbay Minerals Inc. will post 1.1220575 EPS for the current fiscal year.

Hudbay Minerals Announces Dividend

The company also recently announced a dividend, which was paid on Friday, March 27th. Shareholders of record on Friday, March 27th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Tuesday, March 10th. This represents a yield of 3.0%. Hudbay Minerals’s payout ratio is 0.87%.

Insiders Place Their Bets

In other news, insider Eugene Chi-Yen Lei bought 1,000 shares of the firm’s stock in a transaction on Friday, March 27th. The stock was acquired at an average cost of C$26.85 per share, with a total value of C$26,850.00. Following the transaction, the insider directly owned 195,847 shares in the company, valued at approximately C$5,258,491.95. This trade represents a 0.51% increase in their position. 0.07% of the stock is currently owned by company insiders.

Hudbay Minerals Company Profile

Hudbay (TSX, NYSE: HBM) is a copper-focused critical minerals mining company with three long-life operations and a world-class pipeline of copper growth projects in tier-one mining jurisdictions of Canada, Peru and the United States. Hudbay’s operating portfolio includes the Constancia mine in Cusco (Peru), the Snow Lake operations in Manitoba (Canada) and the Copper Mountain mine in British Columbia (Canada). Copper is the primary metal produced by the Company, which is complemented by meaningful gold production and by-product zinc, silver and molybdenum.