Hudbay Minerals (TSE:HBM) Sets New 12-Month High – Time to Buy?

Hudbay Minerals Inc. (TSE:HBM) (NYSE:HBM) shares hit a new 52-week high during trading on Thursday . The stock traded as high as C$14.09 and last traded at C$13.88, with a volume of 498693 shares traded. The stock had previously closed at C$13.46.

Analysts Set New Price Targets

Several brokerages have recently commented on HBM. Scotiabank raised their target price on shares of Hudbay Minerals from C$14.00 to C$15.50 in a report on Monday, June 16th. National Bankshares set a C$14.50 target price on shares of Hudbay Minerals and gave the stock an “outperform” rating in a report on Tuesday. Royal Bank Of Canada raised their target price on shares of Hudbay Minerals from C$16.00 to C$17.00 and gave the stock an “outperform” rating in a report on Wednesday, June 4th. Raymond James Financial increased their price target on shares of Hudbay Minerals from C$16.00 to C$17.00 in a research report on Friday, April 4th. Finally, BMO Capital Markets upgraded shares of Hudbay Minerals to a “strong-buy” rating in a research report on Tuesday, April 15th. Eight analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Hudbay Minerals currently has an average rating of “Buy” and an average price target of C$16.05.

Hudbay Minerals Trading Down 0.8%

The business’s 50 day simple moving average is C$11.98 and its two-hundred day simple moving average is C$11.64. The stock has a market cap of C$4.01 billion, a P/E ratio of 40.75, a PEG ratio of 3.97 and a beta of 1.83. The company has a quick ratio of 0.85, a current ratio of 1.86 and a debt-to-equity ratio of 46.39.

Insiders Place Their Bets

In other Hudbay Minerals news, Director Gregory Paul Dryden sold 30,000 shares of the company’s stock in a transaction dated Friday, June 6th. The stock was sold at an average price of C$13.21, for a total value of C$396,204.00. Also, Senior Officer Mark Zachary Gupta sold 2,874 shares of the firm’s stock in a transaction dated Friday, June 6th. The stock was sold at an average price of C$13.25, for a total value of C$38,080.50. Over the last quarter, insiders have sold 34,074 shares of company stock valued at $447,953. 0.07% of the stock is currently owned by insiders.

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.