BMO Capital Markets Boosts Hudbay Minerals (TSE:HBM) Price Target to C$39.00

Key Points

• BMO Capital Markets raised its price target on Hudbay to C$39.00, implying roughly a 15.83% upside from the current share price.
• Multiple other analysts have also boosted targets, leaving a MarketBeat consensus rating of Buy with an average price target of C$39.17.
• Shares traded at C$33.67 midday (1‑year range C$9.67–C$38.94); Hudbay reported quarterly EPS of C$0.30 and a 25.8% net margin, and an insider recently purchased 1,000 shares.

Hudbay Minerals (TSE:HBM - Get Free Report) NYSE: HBM had its target price lifted by BMO Capital Markets from C$33.00 to C$39.00 in a research note issued to investors on Wednesday,BayStreet.CA reports. BMO Capital Markets' price objective suggests a potential upside of 15.83% from the company's current price.

HBM has been the topic of several other reports. ATB Cormark Capital Markets lifted their price objective on shares of Hudbay Minerals from C$26.00 to C$37.50 and gave the company an "outperform" rating in a research report on Monday, February 23rd. Canadian Imperial Bank of Commerce lifted their price objective on shares of Hudbay Minerals from C$42.00 to C$46.00 in a research report on Tuesday. Canaccord Genuity Group lifted their price objective on shares of Hudbay Minerals from C$39.00 to C$41.00 and gave the company a "buy" rating in a research report on Tuesday, March 3rd. Jefferies Financial Group boosted their price target on shares of Hudbay Minerals from C$31.00 to C$37.00 in a research report on Monday, January 19th. Finally, Raymond James Financial boosted their price target on shares of Hudbay Minerals from C$34.00 to C$36.00 and gave the stock an "outperform" rating in a research report on Monday, January 26th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Buy" and an average price target of C$39.17.

Hudbay Minerals Stock Performance

Shares of TSE HBM traded up C$1.05 during midday trading on Wednesday, hitting C$33.67. The company's stock had a trading volume of 1,245,142 shares, compared to its average volume of 2,118,078. Hudbay Minerals has a 1-year low of C$9.67 and a 1-year high of C$38.94. The firm's fifty day moving average price is C$31.96 and its 200-day moving average price is C$28.39. The company has a debt-to-equity ratio of 33.86, a quick ratio of 0.85 and a current ratio of 0.95. The firm has a market cap of C$13.37 billion, a P/E ratio of 23.38, a P/E/G ratio of 3.97 and a beta of 2.28.

Hudbay Minerals (TSE:HBM - Get Free Report) NYSE: HBM last issued its quarterly earnings data on Friday, February 20th. The mining company reported C$0.30 earnings per share for the quarter. The firm had revenue of C$1.50 billion for the quarter. Hudbay Minerals had a net margin of 25.80% and a return on equity of 19.30%. On average, sell-side analysts forecast that Hudbay Minerals will post 1.1220575 EPS for the current fiscal year.

Insider Activity at Hudbay Minerals

In other Hudbay Minerals news, insider Eugene Chi-Yen Lei bought 1,000 shares of the company's stock in a transaction that occurred on Friday, March 27th. The shares were acquired at an average cost of C$26.85 per share, for a total transaction of C$26,850.00. Following the acquisition, the insider directly owned 195,847 shares of the company's stock, valued at C$5,258,491.95. This trade represents a 0.51% increase in their ownership of the stock. 0.07% of the stock is owned by insiders.

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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