Royal Bank of Canada Forecasts Strong Price Appreciation for Hudbay Minerals (TSE:HBM) Stock

Hudbay Minerals (TSE:HBM) (NYSE:HBM) had its price objective hoisted by Royal Bank of Canada from C$15.00 to C$16.00 in a research note released on Thursday morning,BayStreet.CA reports. Royal Bank of Canada currently has an outperform rating on the mining company’s stock.

Other research analysts have also recently issued research reports about the stock. Canaccord Genuity Group decreased their price target 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. Stifel Nicolaus increased 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 research note on Thursday, January 30th. National Bankshares cut their price objective on shares of Hudbay Minerals from C$17.00 to C$15.50 and set an “outperform” rating on the stock in a research note on Thursday, February 20th. TD Securities cut their price objective on shares of Hudbay Minerals from C$15.00 to C$14.00 and set a “buy” rating on the stock in a research note on Thursday, February 20th. Finally, Scotiabank cut their price objective on shares of Hudbay Minerals from C$15.50 to C$14.00 and set an “outperform” rating on the stock in a research note on Thursday, February 20th. Thirteen analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of C$15.18.

Hudbay Minerals Trading Up 3.8 %

TSE HBM opened at C$11.07 on Thursday. The company has a fifty day simple moving average of C$11.76 and a two-hundred day simple moving average of C$11.88. The stock has a market cap of C$3.07 billion, a P/E ratio of 31.17, a P/E/G ratio of 3.97 and a beta of 1.83. Hudbay Minerals has a 12-month low of C$9.01 and a 12-month high of C$14.33. 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 Dividend Announcement

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

Insider Buying and Selling at Hudbay Minerals

In other Hudbay Minerals news, Director Peter Gerald Jan Kukielski purchased 9,300 shares of the firm’s stock in a transaction dated Friday, February 21st. The shares were purchased at an average cost of C$10.76 per share, with a total value of C$100,068.00. 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.