BMO Capital Markets Forecasts Strong Price Appreciation for Hudbay Minerals (TSE:HBM) Stock

Hudbay Minerals (TSE:HBM) (NYSE:HBM) had its price target increased by equities researchers at BMO Capital Markets from C$33.00 to C$39.00 in a research note issued on Wednesday,BayStreet.CA reports. BMO Capital Markets’ target price points to a potential upside of 18.76% from the company’s current price.

A number of other research analysts have also issued reports on the company. UBS Group set a C$34.50 target price on Hudbay Minerals and gave the company a “buy” rating in a report on Friday, January 9th. Raymond James Financial increased their price target on Hudbay Minerals from C$34.00 to C$36.00 and gave the stock an “outperform” rating in a report on Monday, January 26th. Scotiabank lowered their price objective on shares of Hudbay Minerals from C$37.00 to C$35.50 and set an “outperform” rating on the stock in a research report on Monday, February 23rd. Stifel Nicolaus boosted their price objective 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. Finally, Jefferies Financial Group upped their price objective on shares of Hudbay Minerals from C$31.00 to C$37.00 in a research report on Monday, January 19th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Hudbay Minerals presently has an average rating of “Buy” and a consensus target price of C$39.17.

Hudbay Minerals Stock Performance

TSE HBM opened at C$32.84 on Wednesday. The firm has a market cap of C$13.04 billion, a P/E ratio of 22.81, a P/E/G ratio of 3.97 and a beta of 2.28. Hudbay Minerals has a 52-week low of C$9.67 and a 52-week high of C$38.94. The business’s 50-day moving average price is C$31.88 and its 200 day moving average price is C$28.46. The company has a quick ratio of 0.85, a current ratio of 0.95 and a debt-to-equity ratio of 33.86.

Hudbay Minerals (TSE:HBM) (NYSE:HBM) last posted its quarterly earnings data on Friday, February 20th. The mining company reported C$0.30 EPS for the quarter. Hudbay Minerals had a return on equity of 19.30% and a net margin of 25.80%.The firm had revenue of C$1.50 billion during the quarter. On average, equities research analysts expect that Hudbay Minerals will post 1.1220575 earnings per share for the current year.

Insider Activity

In other Hudbay Minerals news, insider Eugene Chi-Yen Lei purchased 1,000 shares of Hudbay Minerals stock in a transaction dated Friday, March 27th. The stock was acquired at an average cost of C$26.85 per share, with a total value of C$26,850.00. Following the acquisition, the insider directly owned 195,847 shares of the company’s stock, valued at C$5,258,491.95. This represents a 0.51% increase in their ownership of the stock. Company insiders own 0.07% of the company’s stock.

Hudbay Minerals Company Profile

Hudbay (TSX, NYSE: HBM) is a copper-focused critical minerals mining company with three long-life operations and a world-class pipeline of copper growth projects in tier-one mining jurisdictions of Canada, Peru and the United States. Hudbay’s operating portfolio includes the Constancia mine in Cusco (Peru), the Snow Lake operations in Manitoba (Canada) and the Copper Mountain mine in British Columbia (Canada). Copper is the primary metal produced by the Company, which is complemented by meaningful gold production and by-product zinc, silver and molybdenum.