Hudbay Minerals (TSE:HBM) Stock Price Expected to Rise, Canadian Imperial Bank of Commerce Analyst Says

Key Points

• Canadian Imperial Bank of Commerce raised its price target for Hudbay from C$42 to C$46, implying roughly a 40.5% upside from the company's previous close.
• Analyst sentiment is broadly positive with a consensus Buy rating and a consensus target of C$38.17; most analysts have recently increased targets (2 Strong Buy, 10 Buy, 1 Hold).
• Hudbay traded at C$32.74 (down C$2.29) with a market cap around C$13B, a PE of 22.74 and a one‑year range of C$9.67–C$38.94; the company reported quarterly EPS of C$0.30 on C$1.5B revenue.

Hudbay Minerals (TSE:HBM - Get Free Report) NYSE: HBM had its price target increased by Canadian Imperial Bank of Commerce from C$42.00 to C$46.00 in a report released on Tuesday,BayStreet.CA reports. Canadian Imperial Bank of Commerce's target price suggests a potential upside of 40.50% from the company's previous close.

A number of other research analysts have also recently commented on HBM. Desjardins set a C$40.00 target price on Hudbay Minerals and gave the company a "buy" rating in a research note on Thursday, March 5th. National Bank Financial cut Hudbay Minerals from an "outperform" rating to a "sector perform" rating and increased their target price for the company from C$28.00 to C$40.00 in a research note on Thursday, January 29th. Jefferies Financial Group increased their target price on Hudbay Minerals from C$31.00 to C$37.00 in a research note on Monday, January 19th. Bank of America increased their target price on Hudbay Minerals from C$37.75 to C$44.50 in a research note on Thursday, February 26th. Finally, Stifel Nicolaus increased their target price on Hudbay Minerals from C$28.00 to C$41.00 and gave the company a "buy" rating in a research note on Wednesday, February 11th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of C$38.17.

Hudbay Minerals Price Performance

HBM traded down C$2.29 during trading on Tuesday, reaching C$32.74. The stock had a trading volume of 1,258,513 shares, compared to its average volume of 2,113,173. The stock has a market cap of C$13.00 billion, a PE ratio of 22.74, a PEG ratio of 3.97 and a beta of 2.28. The company has a debt-to-equity ratio of 33.86, a quick ratio of 0.85 and a current ratio of 0.95. Hudbay Minerals has a one year low of C$9.67 and a one year high of C$38.94. The business has a 50-day moving average of C$31.99 and a 200-day moving average of C$28.32.

Hudbay Minerals (TSE:HBM - Get Free Report) NYSE: HBM last released its earnings results on Friday, February 20th. The mining company reported C$0.30 EPS for the quarter. The business had revenue of C$1.50 billion for the quarter. Hudbay Minerals had a return on equity of 19.30% and a net margin of 25.80%. As a group, equities research analysts anticipate that Hudbay Minerals will post 1.1220575 EPS for the current fiscal year.

Insider Transactions at Hudbay Minerals

In other news, insider Eugene Chi-Yen Lei bought 1,000 shares of the firm's stock in a transaction that occurred on Friday, March 27th. The shares were bought at an average cost of C$26.85 per share, with a total value of C$26,850.00. Following the completion of the purchase, the insider directly owned 195,847 shares in the company, valued at C$5,258,491.95. This represents a 0.51% increase in their ownership of the stock. 0.07% of the stock is currently owned by insiders.

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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