Hudbay Minerals (TSE:HBM) Stock Price Target Cut by Raymond James Financial

Key Points

• Raymond James cut Hudbay Minerals’ price target from C$43 to C$42 while maintaining an “outperform” rating, implying roughly 36.9% upside from the prior close.
• Analyst sentiment remains broadly positive: Hudbay has an average “Buy” rating and a consensus price target of C$42.58, with two Strong Buy, ten Buy and one Hold ratings.
• Shares fell 9.0% to C$30.67 during Thursday trading, below both the 50-day moving average of C$37.64 and the 200-day average of C$35.56.

Hudbay Minerals (TSE:HBM - Get Free Report) NYSE: HBM had its price target decreased by research analysts at Raymond James Financial from C$43.00 to C$42.00 in a report released on Thursday, BayStreet reports. The firm presently has an "outperform" rating on the mining company's stock. Raymond James Financial's target price suggests a potential upside of 36.94% from the stock's previous close.

Other equities analysts have also issued research reports about the company. BMO Capital Markets cut their price target on Hudbay Minerals from C$46.00 to C$44.00 and set an "outperform" rating on the stock in a research note on Thursday, July 30th. Haywood Securities increased their target price on shares of Hudbay Minerals from C$43.00 to C$45.00 in a report on Wednesday, September 30th. Scotiabank cut their target price on shares of 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. Barclays upped their price target on shares of Hudbay Minerals from C$41.00 to C$45.00 in a research report on Thursday, July 16th. Finally, ATB Cormark Capital Markets increased their price objective on shares of Hudbay Minerals from C$35.00 to C$40.00 and gave the company an "outperform" rating in a research note on Friday, October 9th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of C$42.58.

Hudbay Minerals Trading Down 9.0%

TSE:HBM traded down C$3.04 during midday trading on Thursday, hitting C$30.67. The stock had a trading volume of 3,702,610 shares, compared to its average volume of 2,155,290. The stock has a 50-day moving average of C$37.64 and a 200 day moving average of C$35.56. The company has a market capitalization of C$13.62 billion, a price-to-earnings ratio of 18.84, a PEG ratio of 3.97 and a beta of 2.37. Hudbay Minerals has a one year low of C$20.26 and a one year high of C$44.48. The company has a quick ratio of 0.85, a current ratio of 2.24 and a debt-to-equity ratio of 19.04.

Hudbay Minerals (TSE:HBM - Get Free Report) NYSE: HBM last issued its earnings results 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 business had revenue of C$896.94 million during the quarter. As a group, sell-side analysts forecast that Hudbay Minerals will post 1.12 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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