Hudbay Minerals (TSE:HBM) Price Target Raised to C$42.00

Hudbay Minerals (TSE:HBM) (NYSE:HBM) had its price target increased by equities researchers at CIBC from C$35.00 to C$42.00 in a report issued on Wednesday,BayStreet.CA reports. CIBC’s price objective would indicate a potential upside of 21.25% from the company’s previous close.

Several other research firms have also issued reports on HBM. Citigroup set a C$23.00 price target on Hudbay Minerals and gave the stock a “buy” rating in a research report on Monday, December 15th. Raymond James Financial increased their target price on shares of Hudbay Minerals from C$34.00 to C$36.00 and gave the stock an “outperform” rating in a report on Monday, January 26th. TD Securities upped their price objective on shares of Hudbay Minerals from C$17.00 to C$43.00 and gave the company a “buy” rating in a research report on Thursday, January 22nd. Stifel Nicolaus raised their target price on shares of Hudbay Minerals from C$20.00 to C$28.00 in a report on Tuesday, October 21st. Finally, Jefferies Financial Group increased their price objective on Hudbay Minerals from C$31.00 to C$37.00 in a report on Monday, January 19th. Three research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Hudbay Minerals has a consensus rating of “Buy” and an average price target of C$31.66.

Hudbay Minerals Trading Down 3.2%

TSE:HBM traded down C$1.15 during trading hours on Wednesday, hitting C$34.64. 2,707,609 shares of the stock were exchanged, compared to its average volume of 1,935,364. The company’s 50 day moving average is C$28.68 and its two-hundred day moving average is C$22.31. The company has a market capitalization of C$13.72 billion, a P/E ratio of 29.86, a price-to-earnings-growth ratio of 3.97 and a beta of 2.16. Hudbay Minerals has a twelve month low of C$8.49 and a twelve month high of C$38.80. The company has a quick ratio of 0.85, a current ratio of 1.86 and a debt-to-equity ratio of 46.39.

Hudbay Minerals (TSE:HBM) (NYSE:HBM) last issued its quarterly earnings results on Wednesday, November 12th. The mining company reported C$0.03 earnings per share (EPS) for the quarter. The business had revenue of C$0.35 million for the quarter. Hudbay Minerals had a return on equity of 3.74% and a net margin of 4.23%. On average, sell-side analysts anticipate that Hudbay Minerals will post 1.1220575 earnings per share for the current fiscal 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.