Hudbay Minerals (TSE:HBM) Price Target Lowered to C$35.50 at Scotiabank

Hudbay Minerals (TSE:HBM) (NYSE:HBM) had its price target reduced by Scotiabank from C$37.00 to C$35.50 in a research note released on Monday,BayStreet.CA reports. Scotiabank currently has an outperform rating on the mining company’s stock.

A number of other analysts also recently commented on HBM. Desjardins boosted 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 report on Monday, January 26th. Raymond James Financial upped their price target on Hudbay Minerals from C$34.00 to C$36.00 and gave the company an “outperform” rating in a report on Monday, January 26th. TD Securities increased their price objective on Hudbay Minerals from C$17.00 to C$43.00 and gave the company a “buy” rating in a research report on Thursday, January 22nd. ATB Cormark Capital Markets lifted their target price on Hudbay Minerals from C$26.00 to C$37.50 and gave the stock an “outperform” rating in a report on Monday. Finally, Stifel Nicolaus upped their target price on Hudbay Minerals from C$28.00 to C$41.00 and gave the company a “buy” rating in a report on Wednesday, February 11th. Three equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Hudbay Minerals has an average rating of “Buy” and a consensus price target of C$35.52.

Hudbay Minerals Trading Up 4.5%

Shares of Hudbay Minerals stock opened at C$35.74 on Monday. The business has a fifty day simple moving average of C$31.55 and a 200-day simple moving average of C$24.43. Hudbay Minerals has a fifty-two week low of C$8.49 and a fifty-two week high of C$38.80. The firm has a market cap of C$14.16 billion, a price-to-earnings ratio of 30.81, a price-to-earnings-growth ratio of 3.97 and a beta of 2.16. The company has a quick ratio of 0.85, a current ratio of 1.86 and a debt-to-equity ratio of 46.39.

Hudbay Minerals (TSE:HBM) (NYSE:HBM) last issued its quarterly earnings results on Friday, February 20th. The mining company reported C$0.30 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$747.72 million for the quarter. On average, equities analysts forecast that Hudbay Minerals will post 1.1220575 EPS for the current fiscal year.

Hudbay Minerals Company Profile

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.