Hudbay Minerals (TSE:HBM) Price Target Cut to C$43.00 by Analysts at Scotiabank

Key Points

• Scotiabank lowered Hudbay Minerals’ price target to C$43.00 from C$44.00 while maintaining a “sector outperform” rating, implying roughly 35% upside from the reported trading price.
• Other analysts also adjusted targets, but sentiment remains positive: Hudbay has an average rating of “Buy” and an average price target of C$40.91.
• Shares rose 2.9% to C$31.80, while the company reported quarterly EPS of C$0.40 on C$896.94 million in revenue and maintains a copper-focused mining portfolio across Canada, Peru, and the United States.

Hudbay Minerals (TSE:HBM - Get Free Report) NYSE: HBM had its target price reduced by analysts at Scotiabank from C$44.00 to C$43.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. The brokerage presently has a "sector outperform" rating on the mining company's stock. Scotiabank's price target would suggest a potential upside of 35.22% from the stock's current price.

HBM has been the topic of a number of other research reports. National Bank Financial cut their price objective on shares of Hudbay Minerals from C$40.00 to C$38.50 and set a "sector perform" rating on the stock in a report on Tuesday, July 14th. ATB Cormark Capital Markets decreased their price objective on Hudbay Minerals from C$35.50 to C$35.00 and set an "outperform" rating for the company in a research report on Thursday. Canaccord Genuity Group reduced their target price on shares of Hudbay Minerals from C$40.00 to C$39.50 and set a "buy" rating for the company in a research note on Thursday. Canadian Imperial Bank of Commerce lifted their price target on Hudbay Minerals from C$42.00 to C$46.00 in a research note on Tuesday, April 21st. Finally, Jefferies Financial Group lowered their target price on shares of Hudbay Minerals from C$57.00 to C$50.00 in a research report on Monday, July 6th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of C$40.91.

Hudbay Minerals Trading Up 2.9%

TSE:HBM traded up C$0.90 during trading hours on Thursday, reaching C$31.80. 1,574,448 shares of the stock were exchanged, compared to its average volume of 2,185,031. Hudbay Minerals has a twelve month low of C$12.44 and a twelve month high of C$44.48. The company has a quick ratio of 0.85, a current ratio of 1.36 and a debt-to-equity ratio of 30.14. The business has a 50-day moving average of C$34.80 and a two-hundred day moving average of C$33.43. The company has a market capitalization of C$14.12 billion, a price-to-earnings ratio of 19.04, a PEG ratio of 3.97 and a beta of 2.36.

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 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%. On average, equities analysts predict that Hudbay Minerals will post 1.1220575 EPS 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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