Hudbay Minerals (TSE:HBM) Given New C$40.00 Price Target at ATB Cormark Capital Markets

Hudbay Minerals (TSE:HBM) (NYSE:HBM) had its price objective upped by analysts at ATB Cormark Capital Markets from C$35.00 to C$40.00 in a report released on Friday, BayStreet reports. The brokerage presently has an “outperform” rating on the mining company’s stock. ATB Cormark Capital Markets’ price objective points to a potential upside of 7.10% from the stock’s previous close.

Other analysts also recently issued research reports about the company. BMO Capital Markets dropped their price objective on Hudbay Minerals from C$46.00 to C$44.00 and set an “outperform” rating on the stock in a research note on Thursday, July 30th. Haywood Securities increased their price target on Hudbay Minerals from C$43.00 to C$45.00 in a report on Wednesday, September 30th. Royal Bank Of Canada raised their price target on Hudbay Minerals from C$40.00 to C$48.00 in a research report on Wednesday, September 16th. Canaccord Genuity Group cut their price objective on Hudbay Minerals from C$40.00 to C$39.50 and set a “buy” rating on the stock in a report on Thursday, July 30th. Finally, Stifel Nicolaus boosted their price objective on Hudbay Minerals from C$41.00 to C$43.00 and gave the company a “buy” rating in a research report on Tuesday, July 21st. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of C$42.56.

Hudbay Minerals Trading Up 3.5%

TSE:HBM traded up C$1.26 during trading hours on Friday, hitting C$37.35. 2,062,238 shares of the stock were exchanged, compared to its average volume of 2,159,104. The company has a market capitalization of C$16.59 billion, a P/E ratio of 22.94, a price-to-earnings-growth ratio of 3.97 and a beta of 2.37. The company has a quick ratio of 0.85, a current ratio of 2.24 and a debt-to-equity ratio of 19.04. The company’s 50 day moving average is C$37.88 and its two-hundred day moving average is C$35.10. Hudbay Minerals has a twelve month low of C$20.26 and a twelve month high of C$44.48.

Hudbay Minerals (TSE:HBM) (NYSE:HBM) last posted its quarterly earnings results on Wednesday, July 29th. The mining company reported C$0.40 earnings per share for the quarter. The business had revenue of C$896.94 million during the quarter. Hudbay Minerals had a net margin of 27.22% and a return on equity of 18.41%. On average, sell-side analysts anticipate that Hudbay Minerals will post 1.1220575 earnings per share for the current fiscal year.

Hudbay Minerals Company Profile

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.