Royal Bank of Canada Forecasts Strong Price Appreciation for Hudbay Minerals (TSE:HBM) Stock

Hudbay Minerals (TSE:HBM - Free Report) NYSE: HBM had its price target increased by Royal Bank of Canada from C$16.00 to C$17.00 in a research report released on Wednesday morning,BayStreet.CA reports. The firm currently has an outperform rating on the mining company's stock.

A number of other equities research analysts have also recently issued reports on the company. Desjardins upped their price objective on Hudbay Minerals from C$16.00 to C$17.00 and gave the stock a "buy" rating in a research note on Thursday, May 22nd. BMO Capital Markets upgraded Hudbay Minerals to a "strong-buy" rating in a research note on Tuesday, April 15th. National Bankshares dropped their price target on Hudbay Minerals from C$15.50 to C$14.50 and set an "outperform" rating on the stock in a research note on Wednesday, April 16th. Jefferies Financial Group increased their price target on Hudbay Minerals from C$14.00 to C$17.00 in a research note on Friday, April 4th. Finally, Raymond James increased their price target on Hudbay Minerals from C$16.00 to C$17.00 in a research note on Friday, April 4th. Nine research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of C$15.67.

Hudbay Minerals Stock Up 2.0%

Shares of Hudbay Minerals stock traded up C$0.26 on Wednesday, reaching C$13.08. 1,368,450 shares of the company were exchanged, compared to its average volume of 1,754,202. Hudbay Minerals has a one year low of C$8.49 and a one year high of C$13.94. The company has a market capitalization of C$3.63 billion, a price-to-earnings ratio of 36.83, a PEG ratio of 3.97 and a beta of 1.83. The company has a current ratio of 1.86, a quick ratio of 0.85 and a debt-to-equity ratio of 46.39. The company has a 50-day moving average of C$10.77 and a 200 day moving average of C$11.53.

Insider Buying and Selling at Hudbay Minerals

In other news, Senior Officer Francisco Javier Del Rio Del Aguila sold 12,959 shares of the stock in a transaction on Thursday, March 20th. The stock was sold at an average price of C$12.00, for a total transaction of C$155,508.00. Insiders own 0.07% of the company's stock.

Hudbay Minerals Company Profile

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.