Hudbay Minerals (TSE:HBM) Shares Down 1% – What’s Next?

Hudbay Minerals Inc. (TSE:HBM) (NYSE:HBM)’s stock price fell 1% on Friday . The company traded as low as C$32.96 and last traded at C$33.86. 2,402,682 shares traded hands during mid-day trading, an increase of 18% from the average session volume of 2,030,689 shares. The stock had previously closed at C$34.19.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Canaccord Genuity Group raised their target price on shares of Hudbay Minerals from C$35.00 to C$39.00 and gave the company a “buy” rating in a research note on Wednesday, February 11th. Royal Bank Of Canada raised their price objective on Hudbay Minerals from C$26.00 to C$28.00 in a research report on Wednesday, December 10th. Citigroup upped their target price on Hudbay Minerals from C$23.00 to C$32.50 and gave the company a “buy” rating in a research report on Wednesday, February 11th. 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. Finally, TD Securities raised their price target 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. Three analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Hudbay Minerals currently has a consensus rating of “Buy” and an average target price of C$35.05.

Hudbay Minerals Trading Up 1.0%

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 stock has a 50-day simple moving average of C$31.35 and a 200 day simple moving average of C$24.18. The company has a market cap of C$13.54 billion, a price-to-earnings ratio of 29.47, a PEG ratio of 3.97 and a beta of 2.16.

Hudbay Minerals (TSE:HBM) (NYSE:HBM) last announced its quarterly earnings data on Friday, February 20th. The mining company reported C$0.30 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$747.72 million for the quarter. As a group, equities research analysts predict that Hudbay Minerals Inc. 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.