Hudbay Minerals (TSE:HBM) Given New C$35.00 Price Target at ATB Cormark Capital Markets

Key Points

• ATB Cormark lowered Hudbay Minerals’ price target to C$35.00 from C$35.50 while maintaining an “outperform” rating, implying approximately 10.06% upside from the previous close.
• Analyst sentiment remains positive, with a consensus “Buy” rating and average target price of C$40.91; targets from other firms range from C$38.50 to C$46.00.
• Hudbay shares rose 2.9% to C$31.80, while the company recently reported C$0.40 quarterly EPS on C$896.94 million in revenue.

Hudbay Minerals (TSE:HBM - Get Free Report) NYSE: HBM had its price target decreased by stock analysts at ATB Cormark Capital Markets from C$35.50 to C$35.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. The brokerage presently has an "outperform" rating on the mining company's stock. ATB Cormark Capital Markets' price objective points to a potential upside of 10.06% from the stock's previous close.

Other equities analysts have also issued research reports about the company. Canaccord Genuity Group cut their target price on Hudbay Minerals from C$40.00 to C$39.50 and set a "buy" rating on the stock in a research note on Thursday. Barclays raised their price target on shares of Hudbay Minerals from C$41.00 to C$45.00 in a report on Thursday, July 16th. 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, April 21st. Scotiabank boosted their price objective on shares of Hudbay Minerals from C$35.50 to C$44.00 and gave the stock a "sector outperform" rating in a research note on Thursday, June 25th. Finally, National Bank Financial decreased their target price on shares of Hudbay Minerals from C$40.00 to C$38.50 and set a "sector perform" rating for the company in a research report on Tuesday, July 14th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of C$40.91.

Hudbay Minerals Stock Up 2.9%

TSE:HBM traded up C$0.90 during trading hours on Thursday, reaching C$31.80. The company's stock 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 P/E ratio of 19.04, a price-to-earnings-growth ratio of 3.97 and a beta of 2.36. Hudbay Minerals has a 12 month low of C$12.44 and a 12 month high of C$44.48. The company has a debt-to-equity ratio of 30.14, a quick ratio of 0.85 and a current ratio of 1.36. The stock has a 50 day moving average price of C$34.80 and a two-hundred day moving average price of C$33.43.

Hudbay Minerals (TSE:HBM - Get Free Report) NYSE: HBM last announced its earnings results on Wednesday, July 29th. The mining company reported C$0.40 earnings per share (EPS) for the quarter. The business had revenue of C$896.94 million for the quarter. Hudbay Minerals had a return on equity of 20.70% and a net margin of 27.86%. Equities analysts predict that Hudbay Minerals will post 1.1220575 EPS for the current fiscal 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.

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