Hudbay Minerals (TSE:HBM) Trading 3.3% Higher – Here’s Why

Hudbay Minerals Inc. (TSE:HBM) (NYSE:HBM) shares shot up 3.3% during trading on Tuesday . The company traded as high as C$9.93 and last traded at C$9.88. 604,324 shares were traded during trading, a decline of 68% from the average session volume of 1,905,803 shares. The stock had previously closed at C$9.56.

Wall Street Analysts Forecast Growth

Several research firms recently commented on HBM. National Bankshares set a C$15.50 target price on Hudbay Minerals and gave the stock an “outperform” rating in a research report on Wednesday, April 2nd. Canaccord Genuity Group lowered their target price on shares of Hudbay Minerals from C$15.50 to C$14.00 and set a “buy” rating on the stock in a report on Thursday, February 20th. TD Securities cut their price target on shares of Hudbay Minerals from C$15.00 to C$14.00 and set a “buy” rating for the company in a report on Thursday, February 20th. Jefferies Financial Group upped their price objective on shares of Hudbay Minerals from C$14.00 to C$17.00 in a research note on Friday, April 4th. Finally, Desjardins upgraded shares of Hudbay Minerals to a “moderate buy” rating in a research note on Thursday, April 3rd. Thirteen analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of C$15.71.

Hudbay Minerals Stock Up 2.1 %

The company has a debt-to-equity ratio of 46.39, a quick ratio of 0.85 and a current ratio of 1.86. The company has a market cap of C$2.71 billion, a P/E ratio of 27.48, a PEG ratio of 3.97 and a beta of 1.83. The firm’s 50-day simple moving average is C$10.92 and its 200 day simple moving average is C$11.92.

Hudbay Minerals Dividend Announcement

The company also recently disclosed a dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 21st were issued a dividend of $0.01 per share. This represents a yield of 0.1%. The ex-dividend date was Tuesday, March 4th. Hudbay Minerals’s dividend payout ratio is currently 5.63%.

Insider Activity at Hudbay Minerals

In related news, Senior Officer Francisco Javier Del Rio Del Aguila sold 12,959 shares of the 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 transaction of C$155,508.00. Also, Director Peter Gerald Jan Kukielski bought 9,300 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The stock was purchased at an average price of C$10.76 per share, with a total value of C$100,068.00. Insiders bought a total of 11,800 shares of company stock worth $127,418 in the last quarter. Corporate insiders own 0.07% of the company’s stock.

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.