Citigroup Forecasts Strong Price Appreciation for Hudbay Minerals (TSE:HBM) Stock

Hudbay Minerals (TSE:HBM) (NYSE:HBM) had its price objective boosted by analysts at Citigroup from C$23.00 to C$32.50 in a report issued on Wednesday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the mining company’s stock. Citigroup’s price target indicates a potential downside of 8.81% from the stock’s previous close.

Other analysts have also recently issued research reports about the company. TD Securities boosted their target price on Hudbay Minerals from C$17.00 to C$43.00 and gave the stock a “buy” rating in a report on Thursday, January 22nd. Stifel Nicolaus lifted their price target on shares of Hudbay Minerals from C$20.00 to C$28.00 in a research report on Tuesday, October 21st. Scotiabank boosted their price objective on shares of Hudbay Minerals from C$26.00 to C$31.00 in a research note on Thursday, January 8th. Canadian Imperial Bank of Commerce raised their target price on shares of Hudbay Minerals from C$35.00 to C$42.00 in a research note on Wednesday, February 4th. Finally, Raymond James Financial lifted their target price on shares of Hudbay Minerals from C$34.00 to C$36.00 and gave the company an “outperform” rating in a report on Monday, January 26th. Three investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Hudbay Minerals currently has an average rating of “Buy” and a consensus price target of C$35.05.

Hudbay Minerals Trading Up 3.5%

Shares of HBM traded up C$1.21 during mid-day trading on Wednesday, reaching C$35.64. The company had a trading volume of 1,271,423 shares, compared to its average volume of 1,929,812. Hudbay Minerals has a fifty-two week low of C$8.49 and a fifty-two week high of C$38.80. The firm has a fifty day simple moving average of C$29.75 and a 200-day simple moving average of C$23.03. The stock has a market cap of C$14.12 billion, a price-to-earnings ratio of 30.72, a price-to-earnings-growth ratio of 3.97 and a beta of 2.16. The company has a current ratio of 1.86, a quick ratio of 0.85 and a debt-to-equity ratio of 46.39.

Hudbay Minerals (TSE:HBM) (NYSE:HBM) last issued its earnings results on Wednesday, November 12th. The mining company reported C$0.03 earnings per share for the quarter. Hudbay Minerals had a return on equity of 3.74% and a net margin of 4.23%.The business had revenue of C$0.35 million for the quarter. On average, sell-side analysts anticipate that Hudbay Minerals will post 1.1220575 EPS for the current fiscal year.

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. Hudbay produces copper concentrate, which contains copper, gold, and silver, as well as zinc metal. More than half the company’s revenue is attributable to the copper business.