Hudbay Minerals (TSE:HBM) Price Target Raised to C$11.50 at Raymond James

Hudbay Minerals (TSE:HBM) (NYSE:HBM) had its target price boosted by Raymond James from C$10.50 to C$11.50 in a research report report published on Thursday morning, BayStreet.CA reports. Raymond James currently has an outperform rating on the mining company’s stock. Raymond James also issued estimates for Hudbay Minerals’ Q1 2024 earnings at $0.10 EPS, Q3 2024 earnings at $0.06 EPS and FY2024 earnings at $0.39 EPS.

A number of other research analysts have also commented on HBM. Scotiabank boosted their price target on shares of Hudbay Minerals from C$10.50 to C$11.00 and gave the company an outperform rating in a research report on Tuesday, February 6th. Canaccord Genuity Group upped their price objective 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. CIBC upped their price objective on shares of Hudbay Minerals from C$11.00 to C$13.00 and gave the company an outperform rating in a research note on Wednesday, April 17th. National Bankshares increased their price target 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. Finally, Stifel Nicolaus set a C$11.25 target price on shares of Hudbay Minerals and gave the company a buy rating in a research note on Tuesday, March 26th. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of C$10.60.

Hudbay Minerals Trading Down 1.2 %

TSE:HBM opened at C$10.72 on Thursday. 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 stock has a market capitalization of C$3.76 billion, a PE ratio of 35.73, a price-to-earnings-growth ratio of 3.97 and a beta of 1.96. The firm’s 50 day moving average is C$8.94 and its 200 day moving average is C$7.48. Hudbay Minerals has a 12 month low of C$5.46 and a 12 month high of C$11.05.

Hudbay Minerals (TSE:HBM) (NYSE:HBM) last released its quarterly earnings data on Friday, February 23rd. The mining company reported C$0.27 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.15 by C$0.12. Hudbay Minerals had a net margin of 3.93% and a return on equity of 3.68%. The business had revenue of C$819.90 million during the quarter, compared to analyst estimates of C$710.46 million. Sell-side analysts expect that Hudbay Minerals will post 0.681388 earnings per share for the current year.

Hudbay Minerals Announces Dividend

The company also recently declared a 1 dividend, which was paid on Tuesday, March 5th. Investors of record on Friday, March 22nd were given a dividend of $0.02 per share. This represents a dividend yield of 0.13%. The ex-dividend date was Friday, March 22nd. Hudbay Minerals’s dividend payout ratio (DPR) is currently 6.67%.

Insiders Place Their Bets

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

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.