Hudbay Minerals (TSE:HBM) Price Target Raised to C$45.00

Key Points

• Barclays raised Hudbay Minerals’ price target from C$41.00 to C$45.00, implying about 55% upside from the prior close.
• Other analysts have been mixed but generally positive: several firms recently adjusted targets, and MarketBeat shows an overall Buy consensus with an average price target of C$40.72.
• Hudbay shares were down on the day to C$29.03 despite solid recent results, including quarterly EPS of C$0.56 and revenue of C$1.05 billion.

Hudbay Minerals (TSE:HBM - Get Free Report) NYSE: HBM had its price target hoisted by Barclays from C$41.00 to C$45.00 in a research note issued to investors on Thursday,BayStreet.CA reports. Barclays's price objective points to a potential upside of 55.01% from the stock's previous close.

Several other research firms have also issued reports on HBM. BMO Capital Markets upped their price target on shares of Hudbay Minerals from C$33.00 to C$39.00 in a research report on Wednesday, April 22nd. National Bank Financial lowered their target price on Hudbay Minerals from C$40.00 to C$38.50 and set a "sector perform" rating for the company in a research note on Tuesday. Jefferies Financial Group dropped their target price on Hudbay Minerals from C$57.00 to C$50.00 in a report on Monday, July 6th. 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, Canaccord Genuity Group lowered their price objective on Hudbay Minerals from C$41.00 to C$40.00 in a research report on Monday, May 4th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, Hudbay Minerals presently has an average rating of "Buy" and an average price target of C$40.72.

Hudbay Minerals Price Performance

Shares of TSE HBM traded down C$1.83 during midday trading on Thursday, hitting C$29.03. 1,031,121 shares of the company's stock were exchanged, compared to its average volume of 2,175,647. The company has a current ratio of 1.36, a quick ratio of 0.85 and a debt-to-equity ratio of 30.14. The business's fifty day moving average price is C$35.61 and its two-hundred day moving average price is C$33.23. The company has a market cap of C$12.89 billion, a price-to-earnings ratio of 17.38, a PEG ratio of 3.97 and a beta of 2.36. Hudbay Minerals has a 12-month low of C$12.35 and a 12-month high of C$44.48.

Hudbay Minerals (TSE:HBM - Get Free Report) NYSE: HBM last released its quarterly earnings results on Friday, May 1st. The mining company reported C$0.56 earnings per share for the quarter. The business had revenue of C$1.05 billion for the quarter. Hudbay Minerals had a return on equity of 20.70% and a net margin of 27.86%. As a group, research analysts forecast that Hudbay Minerals will post 1.1220575 EPS for the current fiscal 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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