Canaccord Genuity Group Boosts Hudbay Minerals (TSE:HBM) Price Target to C$39.00

Hudbay Minerals (TSE:HBM) (NYSE:HBM) had its price target hoisted by research analysts at Canaccord Genuity Group from C$35.00 to C$39.00 in a report issued on Wednesday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the mining company’s stock. Canaccord Genuity Group’s target price indicates a potential upside of 12.91% from the company’s previous close.

HBM has been the topic of several other research reports. Stifel Nicolaus increased their price target on shares of Hudbay Minerals from C$20.00 to C$28.00 in a research report on Tuesday, October 21st. Scotiabank upped their target price on Hudbay Minerals from C$26.00 to C$31.00 in a research note on Thursday, January 8th. Royal Bank Of Canada lifted their price target on Hudbay Minerals from C$26.00 to C$28.00 in a research note on Wednesday, December 10th. Jefferies Financial Group boosted their price target on Hudbay Minerals from C$31.00 to C$37.00 in a report on Monday, January 19th. Finally, Canadian Imperial Bank of Commerce upped their price objective on Hudbay Minerals from C$35.00 to C$42.00 in a research report on Wednesday, February 4th. Three equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of C$35.05.

Hudbay Minerals Stock Down 3.7%

Shares of TSE HBM opened at C$34.54 on Wednesday. The stock has a market capitalization of C$13.68 billion, a P/E ratio of 29.78, a PEG ratio of 3.97 and a beta of 2.16. The stock’s fifty day moving average is C$30.18 and its 200 day moving average is C$23.20. Hudbay Minerals has a 52 week low of C$8.49 and a 52 week high of C$38.80. The company has a debt-to-equity ratio of 46.39, a quick ratio of 0.85 and a current ratio of 1.86.

Hudbay Minerals (TSE:HBM) (NYSE:HBM) last announced its quarterly earnings data on Wednesday, November 12th. The mining company reported C$0.03 earnings per share (EPS) for the quarter. Hudbay Minerals had a net margin of 4.23% and a return on equity of 3.74%. The firm had revenue of C$0.35 million for the quarter. Sell-side analysts forecast that Hudbay Minerals will post 1.1220575 earnings per share 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.