Raymond James Financial Issues Positive Forecast for Hudbay Minerals (TSE:HBM) Stock Price

Key Points

• Raymond James raised Hudbay Minerals’ price target to C$43 from C$42, implying 13.4% upside from the prior close.
• Analyst sentiment remains positive: Hudbay has an overall “Buy” consensus, with two Strong Buy ratings and nine Buy ratings; the consensus target is C$42.03.
• Shares closed at C$37.92, while the company reported C$0.40 quarterly EPS and C$896.94 million in revenue. Hudbay operates copper-focused mines in Canada, Peru and the United States.

Hudbay Minerals (TSE:HBM - Get Free Report) NYSE: HBM had its target price hoisted by investment analysts at Raymond James Financial from C$42.00 to C$43.00 in a report released on Wednesday, BayStreet reports. Raymond James Financial's price objective would indicate a potential upside of 13.40% from the company's previous close.

Other research analysts have also issued research reports about the stock. Royal Bank Of Canada increased their target price on shares of Hudbay Minerals from C$40.00 to C$48.00 in a research note on Wednesday, September 16th. Barclays boosted their price target on shares of Hudbay Minerals from C$41.00 to C$45.00 in a research note on Thursday, July 16th. Canaccord Genuity Group lowered their price objective on shares of Hudbay Minerals from C$40.00 to C$39.50 and set a "buy" rating for the company in a research report on Thursday, July 30th. National Bank Financial lowered their price objective on shares of Hudbay Minerals from C$40.00 to C$38.50 and set a "sector perform" rating for the company in a research report on Tuesday, July 14th. Finally, Scotiabank dropped their target price on shares of Hudbay Minerals from C$44.00 to C$43.00 and set a "sector outperform" rating for the company in a report on Thursday, July 30th. Two research 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. Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of C$42.03.

Hudbay Minerals Price Performance

Shares of HBM stock traded down C$0.43 on Wednesday, reaching C$37.92. 1,268,551 shares of the company were exchanged, compared to its average volume of 2,171,542. Hudbay Minerals has a 1 year low of C$20.26 and a 1 year high of C$44.48. The company has a debt-to-equity ratio of 19.04, a quick ratio of 0.85 and a current ratio of 2.24. The business has a 50-day moving average price of C$37.02 and a 200 day moving average price of C$34.60. The company has a market cap of C$16.84 billion, a price-to-earnings ratio of 23.29, a P/E/G 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 earnings per share (EPS) 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. Equities research analysts forecast that Hudbay Minerals will post 1.1220575 earnings per share 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.

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