Scotiabank Issues Positive Forecast for Hudbay Minerals (TSE:HBM) Stock Price

Hudbay Minerals (TSE:HBM - Get Free Report) NYSE: HBM had its target price increased by equities research analysts at Scotiabank from C$14.00 to C$15.50 in a research note issued on Monday,BayStreet.CA reports. Scotiabank's target price would suggest a potential upside of 14.48% from the stock's previous close.

Several other research analysts have also commented on HBM. BMO Capital Markets upgraded shares of Hudbay Minerals to a "strong-buy" rating in a report on Tuesday, April 15th. Stifel Canada raised shares of Hudbay Minerals to a "strong-buy" rating in a research note on Wednesday, March 19th. Raymond James upped their price target on shares of Hudbay Minerals from C$16.00 to C$17.00 in a research report on Friday, April 4th. Royal Bank of Canada raised their price objective on Hudbay Minerals from C$16.00 to C$17.00 and gave the company an "outperform" rating in a research report on Wednesday, June 4th. Finally, Jefferies Financial Group upped their target price on shares of Hudbay Minerals from C$14.00 to C$17.00 in a research note on Friday, April 4th. Nine research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of C$15.92.

Hudbay Minerals Trading Up 3.0%

Shares of HBM traded up C$0.40 during mid-day trading on Monday, hitting C$13.54. The company had a trading volume of 815,403 shares, compared to its average volume of 1,724,673. Hudbay Minerals has a 1-year low of C$8.49 and a 1-year high of C$13.94. The business's 50-day simple moving average is C$11.17 and its 200-day simple moving average is C$11.55. The stock has a market cap of C$3.76 billion, a PE ratio of 38.13, a P/E/G ratio of 3.97 and a beta of 1.83. The company has a quick ratio of 0.85, a current ratio of 1.86 and a debt-to-equity ratio of 46.39.

Insider Activity at Hudbay Minerals

In other news, Director Gregory Paul Dryden sold 30,000 shares of the stock in a transaction that occurred on 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 business's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of C$13.25, for a total value of C$38,080.50. Insiders sold a total of 47,033 shares of company stock valued at $603,461 over the last three months. 0.07% of the stock is owned by insiders.

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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