BMO Capital Markets Has Lowered Expectations for Hudbay Minerals (TSE:HBM) Stock Price

Key Points

• BMO Capital Markets lowered Hudbay Minerals’ price target to C$44 from C$46 but maintained an “outperform” rating, implying approximately 38% upside from the current price.
• Analyst sentiment remains positive overall: Hudbay has an average “Buy” rating and a consensus price target of C$40.91, despite mixed target revisions from other firms.
• Hudbay shares rose 2.9% to C$31.80, while the company reported quarterly EPS of C$0.40 and revenue of approximately C$896.9 million.

Hudbay Minerals (TSE:HBM - Get Free Report) NYSE: HBM had its price target lowered by analysts at BMO Capital Markets from C$46.00 to C$44.00 in a report released on Thursday,BayStreet.CA reports. The firm presently has an "outperform" rating on the mining company's stock. BMO Capital Markets' price target suggests a potential upside of 38.36% from the company's current price.

Other analysts have also issued research reports about the company. Scotiabank boosted their price target on Hudbay Minerals from C$35.50 to C$44.00 and gave the company a "sector outperform" rating in a report on Thursday, June 25th. Jefferies Financial Group reduced their price objective on Hudbay Minerals from C$57.00 to C$50.00 in a report on Monday, July 6th. Canaccord Genuity Group dropped their price target on Hudbay Minerals from C$41.00 to C$40.00 in a research report on Monday, May 4th. Stifel Nicolaus raised their price target on 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. Finally, National Bank Financial decreased their price objective on Hudbay Minerals from C$40.00 to C$38.50 and set a "sector perform" rating for the company in a report on Tuesday, July 14th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, Hudbay Minerals has an average rating of "Buy" and an average price target of C$40.91.

Hudbay Minerals Trading Up 2.9%

HBM traded up C$0.90 on Thursday, reaching C$31.80. 1,574,448 shares of the company traded hands, compared to its average volume of 2,185,031. The company has a market cap of C$14.12 billion, a P/E ratio of 19.04, a price-to-earnings-growth ratio of 3.97 and a beta of 2.36. The company has a quick ratio of 0.85, a current ratio of 1.36 and a debt-to-equity ratio of 30.14. Hudbay Minerals has a one year low of C$12.44 and a one year high of C$44.48. The firm has a fifty day simple moving average of C$34.80 and a two-hundred day simple moving average of C$33.43.

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 EPS for the quarter. The business had revenue of C$896.94 million for the quarter. Hudbay Minerals had a net margin of 27.86% and a return on equity of 20.70%. As a group, equities research analysts expect that Hudbay Minerals will post 1.1220575 earnings per share for the current 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.

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.