Desjardins Forecasts Strong Price Appreciation for Hudbay Minerals (TSE:HBM) Stock

Hudbay Minerals (TSE:HBM) (NYSE:HBM) had its price objective lifted by Desjardins from C$16.00 to C$17.00 in a report issued on Tuesday,BayStreet.CA reports. The brokerage currently has a buy rating on the mining company’s stock.

Several other brokerages have also commented on HBM. Scotiabank decreased their price objective on shares of Hudbay Minerals from C$14.00 to C$13.50 and set an “outperform” rating for the company in a report on Friday, March 28th. Stifel Nicolaus upped their price objective on shares of Hudbay Minerals from C$16.00 to C$16.50 and gave the stock a “buy” rating in a report on Thursday, January 30th. Canaccord Genuity Group decreased their price objective on shares of Hudbay Minerals from C$15.50 to C$14.00 and set a “buy” rating for the company in a report on Thursday, February 20th. BMO Capital Markets upgraded shares of Hudbay Minerals to a “strong-buy” rating in a report on Tuesday, April 15th. Finally, Royal Bank of Canada upped their price objective on shares of Hudbay Minerals from C$15.00 to C$16.00 and gave the stock an “outperform” rating in a report on Thursday, March 13th. Ten equities research analysts have rated the stock with a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of C$15.67.

Hudbay Minerals Stock Up 3.6%

Shares of TSE HBM opened at C$12.08 on Tuesday. The company has a current ratio of 1.86, a quick ratio of 0.85 and a debt-to-equity ratio of 46.39. Hudbay Minerals has a 12 month low of C$8.49 and a 12 month high of C$14.33. The firm has a market capitalization of C$3.35 billion, a PE ratio of 34.02, a price-to-earnings-growth ratio of 3.97 and a beta of 1.83. The firm has a fifty day simple moving average of C$10.42 and a two-hundred day simple moving average of C$11.60.

Hudbay Minerals Dividend Announcement

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

Insider Buying and Selling at Hudbay Minerals

In related news, Director Peter Gerald Jan Kukielski purchased 9,300 shares of the company’s stock in a transaction dated Friday, February 21st. The shares were purchased at an average price of C$10.76 per share, with a total value of C$100,068.00. Also, Senior Officer Francisco Javier Del Rio Del Aguila sold 12,959 shares of the firm’s stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of C$12.00, for a total transaction of C$155,508.00. In the last ninety days, insiders bought 11,800 shares of company stock worth $127,418. 0.07% of the stock is owned by corporate insiders.

Hudbay Minerals Company Profile

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.