Hudbay Minerals (TSE:HBM) Stock Price Expected to Rise, Royal Bank Of Canada Analyst Says

Key Points

• Royal Bank of Canada has raised its price target for Hudbay Minerals from C$19.00 to C$20.00, indicating a potential upside of 7.47% from the current stock price.
• Multiple analysts have upgraded Hudbay Minerals' rating, with a total of three research analysts providing a Strong Buy rating and eight giving a Buy rating.
• Hudbay Minerals' stock rose by 3.3% on the day of the report, reaching a trading price of C$18.61.

Hudbay Minerals (TSE:HBM - Get Free Report) NYSE: HBM had its target price lifted by analysts at Royal Bank Of Canada from C$19.00 to C$20.00 in a research note issued to investors on Wednesday,BayStreet.CA reports. Royal Bank Of Canada's price objective would indicate a potential upside of 4.60% from the stock's current price.

Several other research analysts have also weighed in on HBM. The Goldman Sachs Group upgraded shares of Hudbay Minerals to a "buy" rating in a research report on Monday, September 8th. Scotiabank upped their target price on shares of Hudbay Minerals from C$14.00 to C$15.50 in a research report on Monday, June 16th. Stifel Nicolaus upped 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 upped 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, National Bankshares upped their target price on shares of Hudbay Minerals from C$16.50 to C$17.50 and gave the stock an "outperform" rating in a research report on Thursday, August 14th. Three analysts have rated the stock with a Strong Buy rating and eight have given a Buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of C$17.25.

Hudbay Minerals Price Performance

HBM traded up C$0.37 on Wednesday, hitting C$19.12. 1,333,872 shares of the company were exchanged, compared to its average volume of 1,713,275. The company has a debt-to-equity ratio of 46.39, a quick ratio of 0.85 and a current ratio of 1.86. The business's fifty day moving average is C$14.98 and its 200 day moving average is C$12.70. Hudbay Minerals has a fifty-two week low of C$8.49 and a fifty-two week high of C$19.22. The firm has a market capitalization of C$7.57 billion, a P/E ratio of 26.19, 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.