The Goldman Sachs Group Upgrades Hudbay Minerals (TSE:HBM) to Buy

Key Points

• Goldman Sachs has upgraded Hudbay Minerals (TSE:HBM) to a "buy" rating, signaling positive expectations for the company's stock performance.
• Multiple analysts have raised their price targets for Hudbay, with a consensus price target of C$16.95 and a majority rating of "buy" or "strong buy".
• Shares of Hudbay Minerals opened at C$18.21 on Monday, reflecting a 3.3% increase, and the stock has shown strong growth potential with a 52-week high of C$18.30.

Hudbay Minerals (TSE:HBM - Get Free Report) NYSE: HBM was upgraded by research analysts at The Goldman Sachs Group to a "buy" rating in a report released on Monday, MarketBeat reports.

Several other analysts have also recently commented on HBM. Desjardins raised their price objective on shares of Hudbay Minerals from C$16.00 to C$17.00 and gave the company a "buy" rating in a research note on Thursday, May 22nd. TD Securities lifted their target price on shares of Hudbay Minerals from C$13.00 to C$15.00 and gave the stock a "buy" rating in a research report on Tuesday, June 24th. Stifel Nicolaus lifted their target price on shares of Hudbay Minerals from C$17.00 to C$20.00 and gave the stock a "buy" rating in a research report on Thursday, August 14th. Bank of America lifted their target price on shares of Hudbay Minerals from C$16.00 to C$18.00 in a research report on Friday, August 29th. Finally, Raymond James Financial lifted their target price on shares of Hudbay Minerals from C$17.00 to C$18.50 in a research report on Thursday, August 21st. Four equities research analysts have rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of C$16.95.

Hudbay Minerals Stock Up 3.3%

Shares of TSE HBM opened at C$18.21 on Monday. The company has a quick ratio of 0.85, a current ratio of 1.86 and a debt-to-equity ratio of 46.39. Hudbay Minerals has a 52 week low of C$8.49 and a 52 week high of C$18.30. The firm has a 50-day moving average price of C$14.67 and a 200 day moving average price of C$12.47. The stock has a market capitalization of C$7.21 billion, a price-to-earnings ratio of 24.95, a price-to-earnings-growth ratio of 3.97 and a beta of 2.02.

Hudbay Minerals Company Profile

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.