Hudbay Minerals (TSE:HBM) Stock Price Expected to Rise, ATB Cormark Capital Markets Analyst Says

Key Points

• ATB Cormark raised Hudbay Minerals’ price target to C$40 from C$35 while maintaining an “outperform” rating, implying 7.1% upside from the current price.
• Analyst sentiment remains positive: Hudbay has an average “Buy” rating and a consensus price target of C$42.56, with targets ranging from C$43 to C$50 among several firms.
• Shares rose C$1.26 to C$37.35 in Friday trading. Hudbay reported C$0.40 in quarterly EPS on C$896.94 million in revenue and operates copper-focused mines in Canada, Peru and the United States.

Hudbay Minerals (TSE:HBM - Get Free Report) NYSE: HBM had its price target lifted by analysts at ATB Cormark Capital Markets from C$35.00 to C$40.00 in a research report issued on Friday, BayStreet reports. The brokerage presently has an "outperform" rating on the mining company's stock. ATB Cormark Capital Markets' target price suggests a potential upside of 7.10% from the stock's current price.

Several other equities research analysts have also issued reports on the stock. Haywood Securities boosted their price target on shares of Hudbay Minerals from C$43.00 to C$45.00 in a report on Wednesday, September 30th. Stifel Nicolaus upped their target price on shares of Hudbay Minerals from C$41.00 to C$43.00 and gave the company a "buy" rating in a research note on Tuesday, July 21st. Jefferies Financial Group dropped their price target on shares of Hudbay Minerals from C$57.00 to C$50.00 in a research report on Monday, July 6th. Barclays lifted their price objective on Hudbay Minerals from C$41.00 to C$45.00 in a report on Thursday, July 16th. Finally, Royal Bank Of Canada increased their target price on Hudbay Minerals from C$40.00 to C$48.00 in a report on Wednesday, September 16th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of C$42.56.

Hudbay Minerals Stock Performance

HBM stock traded up C$1.26 during trading on Friday, reaching C$37.35. 2,062,238 shares of the stock were exchanged, compared to its average volume of 2,159,104. The stock has a 50 day simple moving average of C$37.88 and a 200-day simple moving average of C$35.10. The company has a current ratio of 2.24, a quick ratio of 0.85 and a debt-to-equity ratio of 19.04. The company has a market capitalization of C$16.59 billion, a P/E ratio of 22.94, a price-to-earnings-growth ratio of 3.97 and a beta of 2.37. Hudbay Minerals has a twelve month low of C$20.26 and a twelve month high of C$44.48.

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

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.