Hudbay Minerals Inc (HBM) Given New C$13.00 Price Target at TD Securities
Hudbay Minerals Inc (TSE:HBM) (NYSE:HBM) had its target price decreased by analysts at TD Securities from C$13.50 to C$13.00 in a report released on Friday. The brokerage currently has an “action list buy” rating on the mining company’s stock. TD Securities’ target price would suggest a potential upside of 38.59% from the stock’s previous close.
A number of other equities research analysts also recently issued reports on the company. Scotiabank restated a “focus stock” rating and set a C$11.00 price objective on shares of Hudbay Minerals in a research report on Friday. National Bank Financial upped their price objective on Hudbay Minerals from C$10.25 to C$11.00 and gave the company an “outperform” rating in a research report on Monday, July 24th. Barclays PLC decreased their price objective on Hudbay Minerals from C$11.00 to C$10.00 in a research report on Friday, May 19th. Royal Bank Of Canada decreased their price objective on Hudbay Minerals from C$13.00 to C$12.00 and set an “outperform” rating on the stock in a research report on Monday, May 15th. Finally, ValuEngine upgraded Hudbay Minerals from a “hold” rating to a “buy” rating in a research report on Thursday, May 11th. 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 company’s stock. Hudbay Minerals has a consensus rating of “Buy” and an average price target of C$10.56.
Hudbay Minerals (TSE:HBM) opened at 9.38 on Friday. The firm has a 50-day moving average price of $7.88 and a 200-day moving average price of $8.70. The stock’s market capitalization is $2.23 billion. Hudbay Minerals has a 52 week low of $4.74 and a 52 week high of $11.95.
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In other Hudbay Minerals news, insider Gmt Capital Corp purchased 7,200 shares of Hudbay Minerals stock in a transaction dated Thursday, May 11th. The shares were purchased at an average cost of C$5.51 per share, for a total transaction of C$39,672.00. Over the last quarter, insiders bought 87,600 shares of company stock worth $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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