Canaccord Genuity Group Boosts Hudbay Minerals (TSE:HBM) Price Target to C$13.00

Hudbay Minerals (TSE:HBM) (NYSE:HBM) had its target price upped by Canaccord Genuity Group from C$10.50 to C$13.00 in a research report sent to investors on Wednesday, BayStreet.CA reports. They currently have a buy rating on the mining company’s stock.

Several other equities analysts also recently issued reports on the stock. Raymond James boosted their price target on shares of Hudbay Minerals from C$9.00 to C$10.50 in a report on Wednesday, March 20th. Bank of America upped their price objective on shares of Hudbay Minerals from C$8.50 to C$12.25 in a report on Tuesday, April 9th. Scotiabank upped their price objective on shares of Hudbay Minerals from C$10.50 to C$11.00 and gave the stock an outperform rating in a report on Tuesday, February 6th. 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 report on Monday, February 26th. Finally, Stifel Nicolaus set a C$11.25 price objective on shares of Hudbay Minerals and gave the stock a buy rating in a report on Tuesday, March 26th. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus target price of C$10.48.

Hudbay Minerals Stock Performance

Shares of HBM opened at C$10.72 on Wednesday. Hudbay Minerals has a 1 year low of C$5.46 and a 1 year high of C$11.05. The company has a market cap of C$3.76 billion, a price-to-earnings ratio of 35.73, a price-to-earnings-growth ratio of 3.97 and a beta of 1.96. The company has a debt-to-equity ratio of 62.93, a quick ratio of 0.85 and a current ratio of 1.25. The firm has a fifty day moving average of C$8.94 and a 200-day moving average of C$7.46.

Hudbay Minerals (TSE:HBM) (NYSE:HBM) last announced its quarterly earnings results on Friday, February 23rd. The mining company reported C$0.27 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of C$819.90 million during the quarter, compared to the consensus estimate of C$710.46 million. As a group, equities analysts anticipate that Hudbay Minerals will post 0.681388 earnings per share for the current year.

Hudbay Minerals Dividend Announcement

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

Insider Activity

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