Canaccord Genuity Group Lowers Hudbay Minerals (TSE:HBM) Price Target to C$39.50

Key Points

• Canaccord Genuity Group lowered Hudbay Minerals’ price target to C$39.50 from C$40.00 while maintaining a “buy” rating, implying about 24.21% upside from the reported C$31.80 share price.
• Analyst sentiment remains broadly positive: Hudbay has a consensus “Buy” rating and a consensus price target of C$40.91, supported by two Strong Buy and ten Buy recommendations.
• Hudbay reported quarterly EPS of C$0.40 on revenue of C$896.94 million, with a 27.86% net margin and 20.70% return on equity.

Hudbay Minerals (TSE:HBM - Get Free Report) NYSE: HBM had its target price dropped by Canaccord Genuity Group from C$40.00 to C$39.50 in a research report issued on Thursday,BayStreet.CA reports. The brokerage presently has a "buy" rating on the mining company's stock. Canaccord Genuity Group's target price suggests a potential upside of 24.21% from the company's current price.

HBM has been the topic of several other research reports. BMO Capital Markets reduced their price target on shares of Hudbay Minerals from C$46.00 to C$44.00 and set an "outperform" rating on the stock in a research report on Thursday. Barclays boosted their price objective on shares of Hudbay Minerals from C$41.00 to C$45.00 in a research report on Thursday, July 16th. Stifel Nicolaus upped their target price on Hudbay Minerals from C$41.00 to C$43.00 and gave the stock a "buy" rating in a research note on Tuesday, July 21st. Scotiabank raised their target price 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. Finally, National Bank Financial decreased their price target on Hudbay Minerals from C$40.00 to C$38.50 and set a "sector perform" rating on the stock in a research note 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 assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of C$40.91.

Hudbay Minerals Price Performance

HBM stock traded up C$0.90 during midday trading on Thursday, reaching C$31.80. The company had a trading volume of 1,574,448 shares, compared to its average volume of 2,185,031. The company has a market capitalization of C$14.12 billion, a price-to-earnings ratio of 19.04, a price-to-earnings-growth ratio of 3.97 and a beta of 2.36. The stock has a 50 day moving average price of C$34.80 and a 200-day moving average price of C$33.43. Hudbay Minerals has a 1-year low of C$12.44 and a 1-year high of C$44.48. The company has a debt-to-equity ratio of 30.14, a current ratio of 1.36 and a quick ratio of 0.85.

Hudbay Minerals (TSE:HBM - Get Free Report) NYSE: HBM last released its earnings results on Wednesday, July 29th. The mining company reported C$0.40 EPS for the quarter. The firm 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%. Equities research analysts expect that Hudbay Minerals will post 1.1220575 earnings per share 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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