Hudbay Minerals (TSE:HBM) Given New C$35.50 Price Target at Scotiabank

Hudbay Minerals (TSE:HBM) (NYSE:HBM) had its price objective dropped by research analysts at Scotiabank from C$37.00 to C$35.50 in a research note issued on Monday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the mining company’s stock. Scotiabank’s price target points to a potential downside of 1.06% from the stock’s previous close.

Several other brokerages have also weighed in on HBM. UBS Group set a C$34.50 price target on Hudbay Minerals and gave the company a “buy” rating in a research note on Friday, January 9th. Stifel Nicolaus lifted their price target on shares of Hudbay Minerals from C$28.00 to C$41.00 and gave the company a “buy” rating in a research note on Wednesday, February 11th. Canadian Imperial Bank of Commerce upped their price objective on shares of Hudbay Minerals from C$35.00 to C$42.00 in a research report on Wednesday, February 4th. Canaccord Genuity Group increased their price objective on shares of Hudbay Minerals from C$35.00 to C$39.00 and gave the company a “buy” rating in a report on Wednesday, February 11th. Finally, TD Securities boosted their target price on shares of Hudbay Minerals from C$17.00 to C$43.00 and gave the stock a “buy” rating in a research note on Thursday, January 22nd. Three equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of C$35.52.

Hudbay Minerals Stock Up 4.9%

Shares of TSE HBM traded up C$1.69 during midday trading on Monday, reaching C$35.88. 1,554,714 shares of the company’s stock traded hands, compared to its average volume of 2,068,852. The company has a market cap of C$14.21 billion, a price-to-earnings ratio of 30.93, a P/E/G ratio of 3.97 and a beta of 2.16. The stock’s 50 day simple moving average is C$31.35 and its 200-day simple moving average is C$24.26. 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$38.80.

Hudbay Minerals (TSE:HBM) (NYSE:HBM) last announced its earnings results on Friday, February 20th. The mining company reported C$0.30 earnings per share for the quarter. The firm had revenue of C$747.72 million for the quarter. Hudbay Minerals had a return on equity of 3.74% and a net margin of 4.23%. On average, analysts predict that Hudbay Minerals will post 1.1220575 EPS for the current fiscal year.

About Hudbay Minerals

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.