Royal Bank Of Canada Boosts Hudbay Minerals (TSE:HBM) Price Target to C$20.00

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 boosted by stock analysts at Royal Bank Of Canada from C$19.00 to C$20.00 in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. Royal Bank Of Canada's price objective would suggest a potential upside of 7.47% from the stock's current price.

A number of other research analysts have also commented on HBM. Veritas upgraded shares of Hudbay Minerals to a "strong-buy" rating in a research note on Monday, July 7th. Raymond James Financial increased their price objective on shares of Hudbay Minerals from C$17.00 to C$18.50 in a research note on Thursday, August 21st. Desjardins upped their price target on shares of Hudbay Minerals from C$16.00 to C$17.00 and gave the company a "buy" rating in a research report on Thursday, May 22nd. Stifel Nicolaus lifted their price target on shares of Hudbay Minerals from C$17.00 to C$20.00 and gave the company a "buy" rating in a research note on Thursday, August 14th. Finally, National Bankshares lifted their price objective on shares of Hudbay Minerals from C$16.50 to C$17.50 and gave the company an "outperform" rating in a report on Thursday, August 14th. Three research analysts have rated the stock with a Strong Buy rating and eight have given a Buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of C$17.25.

Hudbay Minerals Stock Up 3.3%

HBM traded up C$0.60 during trading on Wednesday, hitting C$18.61. The company had a trading volume of 561,915 shares, compared to its average volume of 1,721,280. The firm's 50-day moving average price is C$14.74 and its 200 day moving average price is C$12.51. 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 one year low of C$8.49 and a one year high of C$18.72. The company has a market capitalization of C$7.36 billion, a PE ratio of 25.49, a PEG 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.

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