Canaccord Genuity Group Issues Positive Forecast for Hudbay Minerals (TSE:HBM) Stock Price

Hudbay Minerals (TSE:HBM) (NYSE:HBM) had its target price lifted by Canaccord Genuity Group from C$35.00 to C$39.00 in a report issued on Wednesday morning,BayStreet.CA reports. The firm currently has a buy rating on the mining company’s stock.

HBM has been the subject of a number of other reports. BMO Capital Markets raised their price objective on Hudbay Minerals from C$23.00 to C$24.00 in a research report on Tuesday, November 18th. Royal Bank Of Canada raised their price target on shares of Hudbay Minerals from C$26.00 to C$28.00 in a report on Wednesday, December 10th. Raymond James Financial boosted their price target on shares of Hudbay Minerals from C$34.00 to C$36.00 and gave the stock an “outperform” rating in a research report on Monday, January 26th. Citigroup set a C$23.00 price objective on shares of Hudbay Minerals and gave the company a “buy” rating in a research note on Monday, December 15th. Finally, Jefferies Financial Group increased their price objective on shares of Hudbay Minerals from C$31.00 to C$37.00 in a research report on Monday, January 19th. Three analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of C$35.05.

Hudbay Minerals Price Performance

Shares of TSE:HBM opened at C$35.86 on Wednesday. The company has a debt-to-equity ratio of 46.39, a quick ratio of 0.85 and a current ratio of 1.86. Hudbay Minerals has a 52 week low of C$8.49 and a 52 week high of C$38.80. The firm has a market cap of C$14.21 billion, a PE ratio of 30.91, a price-to-earnings-growth ratio of 3.97 and a beta of 2.16. The firm’s fifty day moving average is C$29.98 and its 200-day moving average is C$23.12.

Hudbay Minerals (TSE:HBM) (NYSE:HBM) last posted its quarterly earnings data on Wednesday, November 12th. The mining company reported C$0.03 earnings per share for the quarter. The business had revenue of C$0.35 million during the quarter. Hudbay Minerals had a return on equity of 3.74% and a net margin of 4.23%. Sell-side analysts predict that Hudbay Minerals will post 1.1220575 earnings per share for the current year.

About Hudbay Minerals

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.