Hudbay Minerals (TSE:HBM) Price Target Raised to C$28.00 at Jefferies Financial Group

Key Points

• Jefferies Financial Group has raised Hudbay Minerals' price target from C$25.00 to C$28.00, indicating a potential upside of 21.79% from the company's previous closing price.
• Several brokerages, including Scotiabank and National Bankshares, have issued upgraded ratings and price targets for Hudbay Minerals, contributing to an overall consensus rating of "Buy" from analysts.
• Despite the positive outlook, Hudbay Minerals' shares traded down by 5.1%, reaching C$22.99, with the stock's volatility reflected in a beta of 2.21.

Hudbay Minerals (TSE:HBM - Get Free Report) NYSE: HBM had its price objective increased by Jefferies Financial Group from C$25.00 to C$28.00 in a research report issued on Friday,BayStreet.CA reports. Jefferies Financial Group's target price points to a potential upside of 21.79% from the company's previous close.

A number of other brokerages have also issued reports on HBM. Scotiabank upped their price objective on shares of Hudbay Minerals from C$18.50 to C$25.00 and gave the company an "outperform" rating in a report on Tuesday. National Bankshares lifted their price target on shares of Hudbay Minerals from C$22.00 to C$25.00 in a research report on Wednesday, October 8th. Royal Bank Of Canada raised their target price on Hudbay Minerals from C$19.00 to C$20.00 in a research note on Wednesday, September 10th. Veritas upgraded Hudbay Minerals to a "strong-buy" rating in a report on Monday, July 7th. Finally, Bank of America increased their price target on Hudbay Minerals from C$22.50 to C$26.75 in a report on Thursday. Three investment analysts have rated the stock with a Strong Buy rating and eight have issued a Buy rating to the company's stock. According to MarketBeat.com, Hudbay Minerals presently has a consensus rating of "Buy" and an average price target of C$20.93.

Hudbay Minerals Trading Down 5.1%

Shares of HBM traded down C$1.24 during midday trading on Friday, reaching C$22.99. The company had a trading volume of 2,446,038 shares, compared to its average volume of 1,804,819. Hudbay Minerals has a 1-year low of C$8.49 and a 1-year high of C$24.75. The stock has a market cap of C$9.10 billion, a PE ratio of 31.49, a price-to-earnings-growth ratio of 3.97 and a beta of 2.21. The firm has a 50 day simple moving average of C$18.62 and a 200-day simple moving average of C$14.37. The company has a quick ratio of 0.85, a current ratio of 1.86 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.