Hudbay Minerals’ (HBM) Focus Stock Rating Reiterated at Scotiabank
Hudbay Minerals Inc (TSE:HBM) (NYSE:HBM)‘s stock had its “focus stock” rating reiterated by Scotiabank in a research report issued on Friday. They currently have a C$11.00 price target on the mining company’s stock. Scotiabank’s price target points to a potential upside of 13.29% from the company’s previous close.
Several other analysts also recently commented on the stock. TD Securities reiterated an “action list buy” rating and issued a C$13.50 target price on shares of Hudbay Minerals in a report on Monday, June 12th. CSFB initiated coverage on shares of Hudbay Minerals in a report on Thursday, April 13th. They issued a “neutral” rating for the company. Royal Bank Of Canada reiterated an “outperform” rating and issued a C$13.00 target price on shares of Hudbay Minerals in a report on Friday, April 21st. BMO Capital Markets lowered their target price on shares of Hudbay Minerals from C$12.50 to C$11.00 in a report on Monday, April 10th. Finally, National Bank Financial increased their target price on shares of Hudbay Minerals from C$10.25 to C$11.00 and gave the company an “outperform” rating in a report on Monday, July 24th. Three investment analysts have rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of C$10.56.
Shares of Hudbay Minerals (TSE:HBM) traded down 3.50% on Friday, hitting $9.37. 2,254,539 shares of the stock were exchanged. The stock’s market cap is $2.22 billion. Hudbay Minerals has a 1-year low of $4.74 and a 1-year high of $11.95. The stock’s 50-day moving average is $7.88 and its 200-day moving average is $8.70.
In related news, insider Gmt Capital Corp purchased 9,000 shares of Hudbay Minerals stock in a transaction that occurred on Monday, June 26th. The stock was bought at an average price of C$5.31 per share, for a total transaction of C$47,790.00. In the last 90 days, insiders have purchased 87,600 shares of company stock valued at $486,790.
Hudbay Minerals Company Profile
Hudbay Minerals Inc, an integrated mining company, together with its subsidiaries, focuses on the discovery, production, and marketing of base and precious metals in North and South America. It produces copper concentrates containing copper, gold, and silver; and zinc metal. The company owns four polymetallic mines, four ore concentrators, and a zinc production facility in northern Manitoba and Saskatchewan, Canada, as well as in Cusco, Peru; and a copper project in Arizona, United States.
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