National Bank Financial Cuts Hudbay Minerals (TSE:HBM) Price Target to C$38.50

Key Points

• National Bank Financial lowered its price target on Hudbay Minerals to C$38.50 from C$40.00 and kept a sector perform rating, implying about 21.6% upside from the current share price.
• Analyst sentiment remains broadly positive overall, with the stock carrying a consensus Buy rating and an average target price of C$40.47 after several other firms recently raised or trimmed their own targets.
• Hudbay Minerals last reported quarterly EPS of C$0.56 on revenue of C$1.05 billion, while the stock recently traded at C$31.66 amid elevated volatility and a strong year range of C$12.35 to C$44.48.

Hudbay Minerals (TSE:HBM - Get Free Report) NYSE: HBM had its target price decreased by equities researchers at National Bank Financial from C$40.00 to C$38.50 in a report released on Tuesday,BayStreet.CA reports. The firm currently has a "sector perform" rating on the mining company's stock. National Bank Financial's target price suggests a potential upside of 21.60% from the stock's current price.

Several other equities analysts have also recently weighed in on HBM. Canadian Imperial Bank of Commerce increased their price objective on shares of Hudbay Minerals from C$42.00 to C$46.00 in a research note on Tuesday, April 21st. Scotiabank boosted their target price on shares of Hudbay Minerals from C$35.50 to C$44.00 and gave the company a "sector outperform" rating in a research report on Thursday, June 25th. Canaccord Genuity Group reduced their target price on shares of Hudbay Minerals from C$41.00 to C$40.00 in a report on Monday, May 4th. Barclays set a C$41.00 price target on shares of Hudbay Minerals and gave the stock an "overweight" rating in a research report on Friday, May 22nd. Finally, BMO Capital Markets lifted their price target on shares of Hudbay Minerals from C$33.00 to C$39.00 in a research note on Wednesday, April 22nd. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of C$40.47.

Hudbay Minerals Stock Performance

Hudbay Minerals stock traded up C$2.06 during mid-day trading on Tuesday, reaching C$31.66. 1,356,803 shares of the stock traded hands, compared to its average volume of 2,168,264. The stock has a market capitalization of C$14.06 billion, a PE ratio of 18.96, a price-to-earnings-growth ratio of 3.97 and a beta of 2.36. The company has a debt-to-equity ratio of 30.14, a current ratio of 1.36 and a quick ratio of 0.85. Hudbay Minerals has a 12-month low of C$12.35 and a 12-month high of C$44.48. The business's 50-day moving average is C$35.63 and its 200-day moving average is C$33.17.

Hudbay Minerals (TSE:HBM - Get Free Report) NYSE: HBM last announced its earnings results on Friday, May 1st. The mining company reported C$0.56 earnings per share (EPS) 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, sell-side analysts predict 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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