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

Key Points

• Raymond James raised Hudbay Minerals’ price target from C$41.00 to C$42.00 while maintaining an “outperform” rating, implying 9.83% upside from the prior close.
• Analyst sentiment remains positive, with Hudbay receiving a consensus “Buy” rating and an average price target of C$41.28, despite mixed target-price revisions from other firms.
• Hudbay shares traded at C$38.24, near their 52-week high of C$44.48. The company reported quarterly revenue of C$896.94 million and earnings of C$0.40 per share.

Hudbay Minerals (TSE:HBM - Get Free Report) NYSE: HBM had its price objective raised by equities researchers at Raymond James Financial from C$41.00 to C$42.00 in a research report issued to clients and investors on Friday, BayStreet reports. The firm presently has an "outperform" rating on the mining company's stock. Raymond James Financial's price target points to a potential upside of 9.83% from the stock's previous close.

Several other analysts have also issued reports on HBM. National Bank Financial dropped their target price on Hudbay Minerals from C$40.00 to C$38.50 and set a "sector perform" rating on the stock in a report on Tuesday, July 14th. ATB Cormark Capital Markets reduced their target price on shares of Hudbay Minerals from C$35.50 to C$35.00 and set an "outperform" rating for the company in a report on Thursday, July 30th. Scotiabank lowered their price target on shares of Hudbay Minerals from C$44.00 to C$43.00 and set a "sector outperform" rating on the stock in a report on Thursday, July 30th. BMO Capital Markets reduced their price objective on Hudbay Minerals from C$46.00 to C$44.00 and set an "outperform" rating for the company in a report on Thursday, July 30th. Finally, Barclays upped their price objective on Hudbay Minerals from C$41.00 to C$45.00 in a report on Thursday, July 16th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Hudbay Minerals presently has a consensus rating of "Buy" and an average price target of C$41.28.

Hudbay Minerals Stock Performance

Hudbay Minerals stock traded up C$0.03 during trading hours on Friday, hitting C$38.24. The stock had a trading volume of 369,642 shares, compared to its average volume of 2,176,685. The company has a 50-day moving average of C$34.79 and a two-hundred day moving average of C$34.21. The company has a quick ratio of 0.85, a current ratio of 2.24 and a debt-to-equity ratio of 19.04. The company has a market cap of C$16.98 billion, a PE ratio of 23.49, a price-to-earnings-growth ratio of 3.97 and a beta of 2.31. Hudbay Minerals has a fifty-two week low of C$17.33 and a fifty-two week high of C$44.48.

Hudbay Minerals (TSE:HBM - Get Free Report) NYSE: HBM last released its quarterly earnings data on Wednesday, July 29th. The mining company reported C$0.40 earnings per share for the quarter. Hudbay Minerals had a return on equity of 18.41% and a net margin of 27.22%.The company had revenue of C$896.94 million for the quarter. On average, equities research analysts anticipate that Hudbay Minerals will post 1.1220575 EPS for the current fiscal year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source