Hudbay Minerals (TSE:HBM) Reaches New 12-Month High Following Analyst Upgrade

Hudbay Minerals Inc. (TSE:HBM) (NYSE:HBM) hit a new 52-week high on Wednesday after Desjardins raised their price target on the stock from C$36.00 to C$40.00. Desjardins currently has a buy rating on the stock. Hudbay Minerals traded as high as C$38.91 and last traded at C$38.73, with a volume of 381830 shares changing hands. The stock had previously closed at C$38.12.

HBM has been the subject of several other reports. Scotiabank reduced their target price on Hudbay Minerals from C$37.00 to C$35.50 and set an “outperform” rating for the company in a research note on Monday. Citigroup lifted their price objective on shares of Hudbay Minerals from C$23.00 to C$32.50 and gave the stock a “buy” rating in a research report on Wednesday, February 11th. TD Securities upped their price objective on shares of Hudbay Minerals from C$17.00 to C$43.00 and gave the company a “buy” rating in a report on Thursday, January 22nd. BMO Capital Markets raised their target price on shares of Hudbay Minerals from C$23.00 to C$24.00 in a research note on Tuesday, November 18th. Finally, Jefferies Financial Group upped their price target on shares of Hudbay Minerals from C$31.00 to C$37.00 in a research note on Monday, January 19th. Three equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of C$35.78.

Hudbay Minerals Stock Down 0.6%

The stock has a 50-day moving average of C$32.04 and a 200-day moving average of C$24.69. 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 firm has a market cap of C$15.01 billion, a price-to-earnings ratio of 32.67, a P/E/G ratio of 3.97 and a beta of 2.16.

Hudbay Minerals (TSE:HBM) (NYSE:HBM) last released its earnings results on Friday, February 20th. The mining company reported C$0.30 earnings per share for the quarter. The firm had revenue of C$747.72 million during the quarter. Hudbay Minerals had a return on equity of 3.74% and a net margin of 4.23%. Sell-side analysts predict that Hudbay Minerals Inc. will post 1.1220575 EPS 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.