Hudbay Minerals (TSE:HBM) Price Target Raised to C$44.00

Hudbay Minerals (TSE:HBM) (NYSE:HBM) had its target price raised by investment analysts at Scotiabank from C$35.50 to C$44.00 in a research report issued on Thursday,BayStreet.CA reports. The firm presently has a “sector outperform” rating on the mining company’s stock. Scotiabank’s price objective would indicate a potential upside of 31.97% from the stock’s previous close.

Other research analysts have also recently issued research reports about the company. Desjardins set a C$40.00 price objective on Hudbay Minerals and gave the stock a “buy” rating in a research report on Thursday, March 5th. Barclays set a C$41.00 target price on Hudbay Minerals and gave the stock an “overweight” rating in a research note on Friday, May 22nd. Canaccord Genuity Group reduced their price target on shares of Hudbay Minerals from C$41.00 to C$40.00 in a research report on Monday, May 4th. Bank of America lifted their price objective on shares of Hudbay Minerals from C$37.75 to C$44.50 in a research report on Thursday, February 26th. Finally, Royal Bank Of Canada increased their target price on shares of Hudbay Minerals from C$28.00 to C$40.00 in a research report on Thursday, March 12th. Three research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Hudbay Minerals presently has an average rating of “Buy” and a consensus price target of C$39.75.

Hudbay Minerals Stock Up 2.1%

HBM stock traded up C$0.69 during trading on Thursday, reaching C$33.34. The stock had a trading volume of 1,383,274 shares, compared to its average volume of 2,107,298. Hudbay Minerals has a one year low of C$12.35 and a one year high of C$44.48. The company has a quick ratio of 0.85, a current ratio of 1.36 and a debt-to-equity ratio of 30.14. The company’s 50 day moving average is C$35.97 and its two-hundred day moving average is C$32.60. The company has a market capitalization of C$13.24 billion, a price-to-earnings ratio of 19.96, a P/E/G ratio of 3.97 and a beta of 2.24.

Hudbay Minerals (TSE:HBM) (NYSE:HBM) last posted its earnings results on Friday, May 1st. The mining company reported C$0.56 EPS for the quarter. The firm had revenue of C$1.05 billion for the quarter. Hudbay Minerals had a net margin of 27.86% and a return on equity of 20.70%. Equities research analysts forecast that Hudbay Minerals will post 1.1220575 EPS for the current year.

Insiders Place Their Bets

In other news, insider Eugene Chi-Yen Lei acquired 1,000 shares of the firm’s stock in a transaction that occurred on Friday, March 27th. The stock was bought at an average price of C$26.85 per share, with a total value of C$26,850.00. Following the acquisition, the insider owned 195,847 shares in the company, valued at C$5,258,491.95. The trade was a 0.51% increase in their position. Company insiders own 0.07% of the company’s stock.

Hudbay Minerals Company Profile

Hudbay (TSX, NYSE: HBM) is a copper-focused critical minerals mining company with three long-life operations and a world-class pipeline of copper growth projects in tier-one mining jurisdictions of Canada, Peru and the United States. Hudbay’s operating portfolio includes the Constancia mine in Cusco (Peru), the Snow Lake operations in Manitoba (Canada) and the Copper Mountain mine in British Columbia (Canada). Copper is the primary metal produced by the Company, which is complemented by meaningful gold production and by-product zinc, silver and molybdenum.