ATB Cormark Capital Markets Issues Positive Forecast for Hudbay Minerals (TSE:HBM) Stock Price

Hudbay Minerals (TSE:HBM) (NYSE:HBM) had its price target upped by ATB Cormark Capital Markets from C$26.00 to C$37.50 in a report released on Monday morning,BayStreet.CA reports. The brokerage currently has an outperform rating on the mining company’s stock.

A number of other research analysts have also recently weighed in on HBM. 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. Jefferies Financial Group raised their price objective on Hudbay Minerals from C$31.00 to C$37.00 in a report on Monday, January 19th. Stifel Nicolaus lifted their price objective on 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. Desjardins increased their target price on shares of Hudbay Minerals from C$30.00 to C$36.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. Finally, Royal Bank Of Canada raised their price target on shares of Hudbay Minerals from C$26.00 to C$28.00 in a report on Wednesday, December 10th. Three equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, Hudbay Minerals presently has an average rating of “Buy” and an average target price of C$35.52.

Hudbay Minerals Price Performance

Hudbay Minerals stock opened at C$35.74 on Monday. Hudbay Minerals has a 1 year low of C$8.49 and a 1 year high of C$38.80. The firm has a 50 day moving average price of C$31.55 and a 200 day moving average price of C$24.43. The company has a market cap of C$14.16 billion, a price-to-earnings ratio of 30.81, a PEG ratio of 3.97 and a beta of 2.16. 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 posted its quarterly earnings results on Friday, February 20th. The mining company reported C$0.30 earnings per share for the quarter. The company had revenue of C$747.72 million for the quarter. Hudbay Minerals had a net margin of 4.23% and a return on equity of 3.74%. Sell-side analysts predict that Hudbay Minerals 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.