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

Hudbay Minerals (TSE:HBM) (NYSE:HBM) had its price target lifted by stock analysts at Scotiabank from C$12.00 to C$12.50 in a report released on Thursday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the mining company’s stock. Scotiabank’s price target would indicate a potential upside of 3.39% from the stock’s previous close.

HBM has been the topic of several other research reports. Royal Bank of Canada raised their price target on Hudbay Minerals from C$15.00 to C$16.00 and gave the company an “outperform” rating in a research note on Thursday, March 13th. TD Securities decreased their price objective on shares of Hudbay Minerals from C$15.00 to C$14.00 and set a “buy” rating for the company in a research note on Thursday, February 20th. BMO Capital Markets raised Hudbay Minerals to a “strong-buy” rating in a report on Tuesday, April 15th. Jefferies Financial Group lifted their price objective on shares of Hudbay Minerals from C$14.00 to C$17.00 in a report on Friday, April 4th. Finally, Stifel Canada raised Hudbay Minerals to a “strong-buy” rating in a research note on Wednesday, March 19th. Ten analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of C$15.54.

Hudbay Minerals Stock Performance

HBM opened at C$12.09 on Thursday. The company has a debt-to-equity ratio of 46.39, a current ratio of 1.86 and a quick ratio of 0.85. Hudbay Minerals has a 1-year low of C$8.49 and a 1-year high of C$13.94. The company has a 50 day simple moving average of C$10.59 and a two-hundred day simple moving average of C$11.52. The firm has a market cap of C$3.35 billion, a P/E ratio of 34.05, a PEG ratio of 3.97 and a beta of 1.83.

Insider Buying and Selling

In other news, Senior Officer Francisco Javier Del Rio Del Aguila sold 12,959 shares of the company’s stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of C$12.00, for a total value of C$155,508.00. 0.07% of the stock is owned by company 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.