Hudbay Minerals (TSE:HBM) Sets New 52-Week High Following Analyst Upgrade

Hudbay Minerals Inc. (TSE:HBM) (NYSE:HBM) reached a new 52-week high on Wednesday after Royal Bank Of Canada raised their price target on the stock from C$26.00 to C$28.00. The stock traded as high as C$25.44 and last traded at C$24.92, with a volume of 833622 shares. The stock had previously closed at C$24.36.

A number of other research firms also recently weighed in on HBM. Bank of America upped their price target on shares of Hudbay Minerals from C$22.50 to C$26.75 in a research note on Thursday, October 16th. Scotiabank lowered their target price on Hudbay Minerals from C$26.50 to C$26.00 in a research note on Thursday, November 13th. The Goldman Sachs Group raised Hudbay Minerals to a “buy” rating in a research report on Monday, September 8th. BMO Capital Markets lifted their price target on Hudbay Minerals from C$23.00 to C$24.00 in a report on Tuesday, November 18th. Finally, Stifel Nicolaus boosted their price target on Hudbay Minerals from C$20.00 to C$28.00 in a research note on Tuesday, October 21st. Three investment analysts have rated the stock with a Strong Buy rating and eight have assigned a Buy rating to the company. According to MarketBeat, Hudbay Minerals has a consensus rating of “Buy” and a consensus price target of C$23.02.

Hudbay Minerals Stock Performance

The company has a current ratio of 1.86, a quick ratio of 0.85 and a debt-to-equity ratio of 46.39. The firm has a market cap of C$9.98 billion, a price-to-earnings ratio of 21.72, a price-to-earnings-growth ratio of 3.97 and a beta of 2.07. The stock has a fifty day moving average price of C$22.74 and a 200 day moving average price of C$17.77.

Hudbay Minerals (TSE:HBM) (NYSE:HBM) last posted its earnings results on Wednesday, November 12th. The mining company reported C$0.03 earnings per share for the quarter. The firm had revenue of C$0.35 million during the quarter. Hudbay Minerals had a return on equity of 3.74% and a net margin of 4.23%. As a group, analysts predict that Hudbay Minerals Inc. will post 1.1220575 earnings per share for the current 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.