Hudbay Minerals (TSE:HBM) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

Key Points

• Stifel Nicolaus raised its price target on Hudbay Minerals from C$41.00 to C$43.00 and kept a buy rating, implying about 32% upside from the current share price.
• Other analysts remain generally bullish: recent target changes were mixed, but the overall consensus is still a Buy, with an average target price of C$40.84.
• Hudbay shares were trading at C$32.55, and the company recently reported C$0.56 EPS on C$1.05 billion in revenue for the quarter.

Hudbay Minerals (TSE:HBM - Get Free Report) NYSE: HBM had its price objective lifted by equities research analysts at Stifel Nicolaus from C$41.00 to C$43.00 in a research note issued to investors on Tuesday,BayStreet.CA reports. The firm presently has a "buy" rating on the mining company's stock. Stifel Nicolaus' target price suggests a potential upside of 32.10% from the company's current price.

A number of other equities analysts have also recently issued reports on HBM. Scotiabank increased their target price on Hudbay Minerals from C$35.50 to C$44.00 and gave the stock a "sector outperform" rating in a report on Thursday, June 25th. National Bank Financial lowered their price target on Hudbay Minerals from C$40.00 to C$38.50 and set a "sector perform" rating on the stock in a research report on Tuesday, July 14th. Canaccord Genuity Group dropped their price objective on Hudbay Minerals from C$41.00 to C$40.00 in a research note on Monday, May 4th. Canadian Imperial Bank of Commerce lifted their price objective on Hudbay Minerals from C$42.00 to C$46.00 in a report on Tuesday, April 21st. Finally, Jefferies Financial Group reduced their target price on shares of Hudbay Minerals from C$57.00 to C$50.00 in a research note on Monday, July 6th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of C$40.84.

Hudbay Minerals Price Performance

Shares of HBM stock traded up C$3.22 during mid-day trading on Tuesday, reaching C$32.55. The company's stock had a trading volume of 2,251,781 shares, compared to its average volume of 2,173,391. The firm's 50-day moving average is C$35.32 and its two-hundred day moving average is C$33.27. The company has a market cap of C$14.45 billion, a P/E ratio of 19.49, a PEG ratio of 3.97 and a beta of 2.36. Hudbay Minerals has a 1-year low of C$12.35 and a 1-year high of C$44.48. The company has a debt-to-equity ratio of 30.14, a quick ratio of 0.85 and a current ratio of 1.36.

Hudbay Minerals (TSE:HBM - Get Free Report) NYSE: HBM last posted its 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 net margin of 27.86% and a return on equity of 20.70%. On average, research analysts predict that Hudbay Minerals will post 1.1220575 earnings per share for the current year.

Hudbay Minerals Company Profile

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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