Hudbay Minerals (TSE:HBM) Hits New 1-Year High Following Analyst Upgrade

Hudbay Minerals Inc. (TSE:HBM) (NYSE:HBM)’s stock price reached a new 52-week high on Monday after Jefferies Financial Group raised their price target on the stock from C$31.00 to C$37.00. The company traded as high as C$32.51 and last traded at C$32.50, with a volume of 346361 shares traded. The stock had previously closed at C$31.34.

A number of other equities research analysts have also recently weighed in on HBM. BMO Capital Markets upped their price objective on shares of Hudbay Minerals from C$23.00 to C$24.00 in a report on Tuesday, November 18th. Desjardins upped their price target on Hudbay Minerals from C$26.00 to C$30.00 and gave the stock a “buy” rating in a research note on Monday, December 15th. National Bankshares raised their price objective on shares of Hudbay Minerals from C$22.00 to C$25.00 in a research note on Wednesday, October 8th. Citigroup set a C$23.00 target price on shares of Hudbay Minerals and gave the stock a “buy” rating in a report on Monday, December 15th. Finally, Bank of America upped their target price on shares of Hudbay Minerals from C$22.50 to C$26.75 in a research note on Thursday, October 16th. Four analysts have rated the stock with a Strong Buy rating and nine have given a Buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of C$25.75.

Hudbay Minerals Stock Performance

The firm has a market cap of C$13.52 billion, a P/E ratio of 29.42, a P/E/G ratio of 3.97 and a beta of 2.05. The company has a debt-to-equity ratio of 46.39, a quick ratio of 0.85 and a current ratio of 1.86. The business’s 50-day simple moving average is C$26.14 and its 200 day simple moving average is C$20.89.

Hudbay Minerals (TSE:HBM) (NYSE:HBM) last released its quarterly earnings results on Wednesday, November 12th. The mining company reported C$0.03 earnings per share for the quarter. Hudbay Minerals had a return on equity of 3.74% and a net margin of 4.23%.The firm had revenue of C$0.35 million for the quarter. As a group, equities analysts predict that Hudbay Minerals Inc. will post 1.1220575 earnings per share for the current year.

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. Hudbay produces copper concentrate, which contains copper, gold, and silver, as well as zinc metal. More than half the company’s revenue is attributable to the copper business.