Hudbay Minerals (TSE:HBM) Price Target Raised to C$17.50

Key Points

• The price target for Hudbay Minerals has been raised by National Bankshares from C$16.50 to C$17.50, reflecting a potential upside of 15.66% based on the stock's previous close.
• Several analysts have issued buy ratings on Hudbay Minerals, with eight firms rating it as a buy and three as a strong buy, contributing to an average target price of C$16.67.
• The stock of Hudbay Minerals decreased by 2.9% during midday trading, reaching C$15.13 amid a trading volume of 1,337,767 shares.

Hudbay Minerals (TSE:HBM - Get Free Report) NYSE: HBM had its target price boosted by research analysts at National Bankshares from C$16.50 to C$17.50 in a research note issued on Thursday,BayStreet.CA reports. The firm presently has an "outperform" rating on the mining company's stock. National Bankshares' target price would suggest a potential upside of 15.66% from the stock's previous close.

HBM has been the topic of several other reports. Scotiabank boosted their price objective on shares of Hudbay Minerals from C$14.00 to C$15.50 in a research note on Monday, June 16th. TD Securities upped their price target on shares of Hudbay Minerals from C$13.00 to C$15.00 and gave the stock a "buy" rating in a report on Tuesday, June 24th. Veritas raised shares of Hudbay Minerals to a "strong-buy" rating in a report on Monday, July 7th. Royal Bank Of Canada upped their price objective on shares of Hudbay Minerals from C$16.00 to C$17.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 4th. Finally, Desjardins upped their price objective on shares of Hudbay Minerals from C$16.00 to C$17.00 and gave the stock a "buy" rating in a research report on Thursday, May 22nd. Eight analysts have rated the stock with a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, Hudbay Minerals currently has an average rating of "Buy" and an average target price of C$16.67.

Hudbay Minerals Stock Down 2.9%

HBM stock traded down C$0.45 during midday trading on Thursday, hitting C$15.13. The company's stock had a trading volume of 1,337,767 shares, compared to its average volume of 1,749,729. The company has a debt-to-equity ratio of 46.39, a current ratio of 1.86 and a quick ratio of 0.85. Hudbay Minerals has a twelve month low of C$8.49 and a twelve month high of C$16.69. The company's fifty day moving average price is C$13.67 and its 200 day moving average price is C$11.97. The stock has a market capitalization of C$4.20 billion, a P/E ratio of 42.61, a PEG ratio of 3.97 and a beta of 1.83.

Insider Buying and Selling at Hudbay Minerals

In other news, Director Gregory Paul Dryden sold 30,000 shares of the stock in a transaction on Friday, June 6th. The shares were sold at an average price of C$13.21, for a total transaction of C$396,204.00. Also, Senior Officer Mark Zachary Gupta sold 2,874 shares of the stock in a transaction on Friday, June 6th. The stock was sold at an average price of C$13.25, for a total transaction of C$38,080.50. Over the last quarter, insiders have sold 34,074 shares of company stock valued at $447,953. 0.07% of the stock is currently owned by corporate insiders.

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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