Canaccord Genuity Group Has Lowered Expectations for Hudbay Minerals (TSE:HBM) Stock Price

Key Points

• Canaccord Genuity lowered its price objective on Hudbay from C$41.00 to C$40.00, which still implies about a 33.6% upside from the stock's current level.
• Analyst consensus remains positive with an average target of roughly C$39.10 and ratings comprising two "Strong Buy", ten "Buy" and one "Hold", giving an overall "Buy" view.
• Hudbay traded at C$29.94 on Monday; the company reported quarterly EPS of C$0.56 on C$1.05 billion in revenue and has a market capitalization of C$11.89 billion.

Hudbay Minerals (TSE:HBM - Get Free Report) NYSE: HBM had its price objective cut by Canaccord Genuity Group from C$41.00 to C$40.00 in a research note issued to investors on Monday,BayStreet.CA reports. Canaccord Genuity Group's target price would indicate a potential upside of 33.60% from the stock's current price.

Other equities analysts have also recently issued research reports about the company. Desjardins set a C$40.00 price target on Hudbay Minerals and gave the company a "buy" rating in a report on Thursday, March 5th. Jefferies Financial Group raised their price target on Hudbay Minerals from C$31.00 to C$37.00 in a report on Monday, January 19th. Scotiabank cut their price target on Hudbay Minerals from C$37.00 to C$35.50 and set an "outperform" rating for the company in a report on Monday, February 23rd. Royal Bank Of Canada lifted their target price on Hudbay Minerals from C$28.00 to C$40.00 in a report on Thursday, March 12th. Finally, Citigroup lifted their target price on Hudbay Minerals from C$23.00 to C$32.50 and gave the stock a "buy" rating in a report on Wednesday, February 11th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of C$39.10.

Hudbay Minerals Price Performance

TSE HBM traded down C$1.08 during trading on Monday, hitting C$29.94. 808,571 shares of the stock traded hands, compared to its average volume of 2,103,742. The company has a market capitalization of C$11.89 billion, a P/E ratio of 20.79, a price-to-earnings-growth ratio of 3.97 and a beta of 2.28. The firm has a 50-day simple moving average of C$31.61 and a 200-day simple moving average of C$28.85. 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 12-month low of C$10.17 and a 12-month high of C$38.94.

Hudbay Minerals (TSE:HBM - Get Free Report) NYSE: HBM last released its quarterly earnings results on Friday, May 1st. The mining company reported C$0.56 earnings per share for the quarter. The business had revenue of C$1.05 billion during the quarter. Hudbay Minerals had a return on equity of 20.70% and a net margin of 27.86%. As a group, analysts predict that Hudbay Minerals will post 1.1220575 EPS for the current year.

Insider Activity at Hudbay Minerals

In related news, insider Eugene Chi-Yen Lei bought 1,000 shares of the company's stock in a transaction dated Friday, March 27th. The stock was purchased at an average price of C$26.85 per share, for a total transaction of C$26,850.00. Following the acquisition, the insider owned 195,847 shares in the company, valued at C$5,258,491.95. This trade represents a 0.51% increase in their ownership of the stock. Company insiders own 0.07% of the company's stock.

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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