Hudbay Minerals (TSE:HBM) Price Target Raised to C$48.00

Key Points

• Royal Bank of Canada raised Hudbay Minerals’ price target to C$48.00 from C$40.00, implying approximately 36% upside from the stock’s reported C$35.30 price.
• Analyst sentiment remains broadly positive: Hudbay has an average “Buy” rating and a consensus target of C$41.78, based on two Strong Buy, nine Buy and one Hold rating.
• Hudbay reported C$0.40 in quarterly EPS and C$896.94 million in revenue, while its operations remain focused on copper production across Canada, Peru and the United States.

Hudbay Minerals (TSE:HBM - Get Free Report) NYSE: HBM had its price target increased by research analysts at Royal Bank Of Canada from C$40.00 to C$48.00 in a research report issued to clients and investors on Wednesday, BayStreet reports. Royal Bank Of Canada's target price indicates a potential upside of 35.98% from the company's current price.

Several other research analysts also recently commented on HBM. Scotiabank dropped their price target on Hudbay Minerals from C$44.00 to C$43.00 and set a "sector outperform" rating on the stock in a research 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 research report on Thursday, July 30th. ATB Cormark Capital Markets lowered their price objective on shares of Hudbay Minerals from C$35.50 to C$35.00 and set an "outperform" rating on the stock in a research note on Thursday, July 30th. Raymond James Financial boosted their target price on shares of Hudbay Minerals from C$41.00 to C$42.00 and gave the stock an "outperform" rating in a research report on Friday, September 4th. Finally, Canaccord Genuity Group reduced their price target on shares of Hudbay Minerals from C$40.00 to C$39.50 and set a "buy" rating for the company in a report on Thursday, July 30th. Two 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. Based on data from MarketBeat, Hudbay Minerals currently has an average rating of "Buy" and an average target price of C$41.78.

Hudbay Minerals Stock Performance

Hudbay Minerals stock traded up C$0.18 on Wednesday, reaching C$35.30. 680,902 shares of the stock were exchanged, compared to its average volume of 2,151,103. The company has a current ratio of 2.24, a quick ratio of 0.85 and a debt-to-equity ratio of 19.04. Hudbay Minerals has a twelve month low of C$18.00 and a twelve month high of C$44.48. The firm has a fifty day moving average price of C$35.55 and a two-hundred day moving average price of C$34.32. The stock has a market cap of C$15.68 billion, a PE ratio of 21.68, a PEG ratio of 3.97 and a beta of 2.31.

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

About Hudbay Minerals

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.

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