Hudbay Minerals (TSE:HBM) Given New C$26.75 Price Target at Bank of America

Key Points

• Bank of America increased its price target for Hudbay Minerals from C$22.50 to C$26.75, indicating a potential 11.13% upside from its previous close.
• Several research firms have also raised their targets for Hudbay, with most analysts assigning a consensus rating of "Buy" and an average target price of C$19.83.
• Hudbay Minerals' stock is currently trading at C$24.07, which is down 1.0% from the previous day, amid a market capitalization of C$9.52 billion.

Hudbay Minerals (TSE:HBM - Get Free Report) NYSE: HBM had its price target upped by equities researchers at Bank of America from C$22.50 to C$26.75 in a report issued on Thursday,BayStreet.CA reports. Bank of America's target price indicates a potential upside of 11.13% from the company's previous close.

Several other research firms have also commented on HBM. Scotiabank upped their target price on Hudbay Minerals from C$18.50 to C$25.00 and gave the company an "outperform" rating in a report on Tuesday. Veritas raised Hudbay Minerals to a "strong-buy" rating in a report on Monday, July 7th. National Bankshares upped their target price on Hudbay Minerals from C$22.00 to C$25.00 in a research report on Wednesday, October 8th. TD Securities upped their target price on Hudbay Minerals from C$13.00 to C$15.00 and gave the stock a "buy" rating in a research report on Tuesday, June 24th. Finally, Royal Bank Of Canada upped their target price on Hudbay Minerals from C$19.00 to C$20.00 in a research report on Wednesday, September 10th. Three equities research analysts have rated the stock with a Strong Buy rating and eight have assigned a Buy rating to the stock. Based on data from MarketBeat.com, Hudbay Minerals presently has a consensus rating of "Buy" and an average target price of C$19.83.

Hudbay Minerals Stock Down 1.0%

TSE HBM traded down C$0.25 on Thursday, hitting C$24.07. 1,373,579 shares of the stock traded hands, compared to its average volume of 1,796,868. The stock has a 50-day moving average of C$18.39 and a 200 day moving average of C$14.28. Hudbay Minerals has a twelve month low of C$8.49 and a twelve month high of C$24.75. The company has a market capitalization of C$9.52 billion, a P/E ratio of 32.97, a price-to-earnings-growth ratio of 3.97 and a beta of 2.21. The company has a current ratio of 1.86, a quick ratio of 0.85 and a debt-to-equity ratio of 46.39.

About Hudbay Minerals

Hudbay Minerals Inc is a Canadian mining company with its operations, property developments, and exploration activities across the United States. The major mines that Hudbay operates are located in Manitoba, Canada, Arizona, United States; and Peru. The company is principally focused on the discovery, production, and marketing of base and precious metals.

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