Hudbay Minerals (TSE:HBM) Stock Price Up 2.7% – Here’s What Happened

Hudbay Minerals Inc. (TSE:HBM) (NYSE:HBM) rose 2.7% during mid-day trading on Thursday . The company traded as high as C$10.40 and last traded at C$10.34. Approximately 461,361 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 1,888,957 shares. The stock had previously closed at C$10.07.

Analyst Upgrades and Downgrades

HBM has been the topic of a number of recent research reports. Royal Bank of Canada boosted their price target on shares of Hudbay Minerals from C$15.00 to C$16.00 and gave the stock an “outperform” rating in a research note on Thursday, March 13th. National Bankshares reduced their price objective on shares of Hudbay Minerals from C$15.50 to C$14.50 and set an “outperform” rating for the company in a research report on Wednesday, April 16th. Stifel Nicolaus raised their price target on Hudbay Minerals from C$16.00 to C$16.50 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Jefferies Financial Group lifted their target price on shares of Hudbay Minerals from C$14.00 to C$17.00 in a report on Friday, April 4th. Finally, Canaccord Genuity Group dropped their price target on Hudbay Minerals from C$15.50 to C$14.00 and set a “buy” rating on the stock in a research report on Thursday, February 20th. Ten analysts have rated the stock with a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of C$15.64.

Hudbay Minerals Stock Down 1.4 %

The firm has a market cap of C$2.86 billion, a price-to-earnings ratio of 29.00, a PEG ratio of 3.97 and a beta of 1.83. The firm has a fifty day moving average price of C$10.37 and a 200-day moving average price of C$11.78. The company has a quick ratio of 0.85, a current ratio of 1.86 and a debt-to-equity ratio of 46.39.

Hudbay Minerals Dividend Announcement

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

Insider Buying and Selling at Hudbay Minerals

In other Hudbay Minerals news, Senior Officer Francisco Javier Del Rio Del Aguila sold 12,959 shares of Hudbay Minerals stock in a transaction on Thursday, March 20th. The shares were sold at an average price of C$12.00, for a total value of C$155,508.00. Also, Director Peter Gerald Jan Kukielski purchased 9,300 shares of Hudbay Minerals stock in a transaction dated Friday, February 21st. The stock was acquired at an average price of C$10.76 per share, for a total transaction of C$100,068.00. Insiders bought a total of 11,800 shares of company stock valued at $127,418 in the last ninety days. Insiders own 0.07% of the company’s stock.

About Hudbay Minerals

Hudbay Minerals Inc is a Canadian mining company with its operations, property developments, and exploration activities across the United States. The major mines that Hudbay operates are located in Manitoba, Canada, Arizona, United States; and Peru. The company is principally focused on the discovery, production, and marketing of base and precious metals.