Hudbay Minerals (TSE:HBM) Raised to Strong-Buy at Veritas

Veritas upgraded shares of Hudbay Minerals (TSE:HBM - Free Report) NYSE: HBM to a strong-buy rating in a research report sent to investors on Monday morning,Zacks.com reports.

Several other brokerages also recently issued reports on HBM. Desjardins increased their price objective on Hudbay Minerals from C$16.00 to C$17.00 and gave the stock a "buy" rating in a research note on Thursday, May 22nd. Scotiabank increased their price objective on Hudbay Minerals from C$14.00 to C$15.50 in a research note on Monday, June 16th. BMO Capital Markets raised Hudbay Minerals to a "strong-buy" rating in a research note on Tuesday, April 15th. National Bankshares set a C$14.50 price objective on Hudbay Minerals and gave the stock an "outperform" rating in a research note on Tuesday, June 24th. Finally, Raymond James Financial raised Hudbay Minerals to a "moderate buy" rating in a research note on Monday, June 30th. Eight equities research analysts have rated the stock with a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Buy" and an average price target of C$16.05.

Hudbay Minerals Price Performance

Shares of TSE HBM traded down C$0.39 during mid-day trading on Monday, reaching C$14.34. The company had a trading volume of 1,444,752 shares, compared to its average volume of 1,703,451. The company has a current ratio of 1.86, a quick ratio of 0.85 and a debt-to-equity ratio of 46.39. The stock has a market cap of C$3.98 billion, a PE ratio of 40.38, a P/E/G ratio of 3.97 and a beta of 1.83. The company has a 50-day moving average price of C$12.88 and a two-hundred day moving average price of C$11.79. Hudbay Minerals has a 1-year low of C$8.49 and a 1-year high of C$15.19.

Insider Activity

In other news, Director Gregory Paul Dryden sold 30,000 shares of the company's stock in a transaction dated Friday, June 6th. The stock was 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 company's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of C$13.25, for a total value of C$38,080.50. In 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.