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

Shares of Hudbay Minerals Inc. (TSE:HBM) (NYSE:HBM) reached a new 52-week high during mid-day trading on Monday after Desjardins raised their price target on the stock from C$30.00 to C$36.00. Desjardins currently has a buy rating on the stock. Hudbay Minerals traded as high as C$36.25 and last traded at C$35.89, with a volume of 1181498 shares. The stock had previously closed at C$34.24.

A number of other brokerages have also issued reports on HBM. Jefferies Financial Group lifted their price target on shares of Hudbay Minerals from C$31.00 to C$37.00 in a research note on Monday, January 19th. Raymond James Financial raised their price objective on shares of Hudbay Minerals from C$34.00 to C$36.00 and gave the stock an “outperform” rating in a report on Monday. National Bankshares boosted their target price on shares of Hudbay Minerals from C$22.00 to C$25.00 in a research report on Wednesday, October 8th. Citigroup set a C$23.00 price target on shares of Hudbay Minerals and gave the stock a “buy” rating in a research report on Monday, December 15th. Finally, Scotiabank lifted their price target on Hudbay Minerals from C$26.00 to C$31.00 in a research note on Thursday, January 8th. Three research analysts have rated the stock with a Strong Buy rating and ten have issued a Buy rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of C$29.71.

Hudbay Minerals Stock Up 1.9%

The company has a debt-to-equity ratio of 46.39, a current ratio of 1.86 and a quick ratio of 0.85. The stock’s fifty day simple moving average is C$27.06 and its 200-day simple moving average is C$21.43. The stock has a market cap of C$13.82 billion, a P/E ratio of 30.08, a PEG ratio of 3.97 and a beta of 2.05.

Hudbay Minerals (TSE:HBM) (NYSE:HBM) last posted its earnings results on Wednesday, November 12th. The mining company reported C$0.03 EPS for the quarter. The company 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%. On average, research analysts anticipate that Hudbay Minerals Inc. will post 1.1220575 earnings per share for the current 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.