Hudbay Minerals (TSE:HBM) Price Target Cut to C$7.00 by Analysts at Canaccord Genuity
Hudbay Minerals (TSE:HBM) (NYSE:HBM) had its target price trimmed by Canaccord Genuity from C$9.00 to C$7.00 in a research note released on Monday morning, BayStreet.CA reports.
Several other equities research analysts have also issued reports on HBM. Raymond James reduced their target price on shares of Hudbay Minerals from C$10.00 to C$8.00 and set a market perform rating for the company in a report on Friday, August 2nd. Royal Bank of Canada reduced their target price on shares of Hudbay Minerals from C$9.00 to C$8.00 in a report on Friday, August 2nd. TD Securities reduced their target price on shares of Hudbay Minerals from C$10.50 to C$7.50 and set a buy rating for the company in a report on Friday, August 2nd. National Bank Financial reduced their target price on shares of Hudbay Minerals from C$9.00 to C$6.00 and set an outperform rating for the company in a report on Monday. Finally, Eight Capital reduced their target price on shares of Hudbay Minerals from C$11.00 to C$9.00 in a report on Friday, August 2nd. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of Hold and an average price target of C$7.98.
Hudbay Minerals stock opened at C$4.39 on Monday. The firm has a 50 day moving average of C$6.13 and a 200 day moving average of C$7.72. The firm has a market capitalization of $1.18 billion and a price-to-earnings ratio of -23.73. Hudbay Minerals has a 12-month low of C$4.19 and a 12-month high of C$10.42. The company has a current ratio of 2.31, a quick ratio of 1.78 and a debt-to-equity ratio of 49.69.
In other news, insider Waterton Global Resource Management, Inc. bought 500,000 shares of Hudbay Minerals stock in a transaction that occurred on Wednesday, July 10th. The stock was bought at an average cost of C$6.57 per share, with a total value of C$3,284,358.00. Following the acquisition, the insider now owns 17,324,844 shares of the company’s stock, valued at approximately C$113,801,979.98.
Hudbay Minerals Company Profile
Hudbay Minerals Inc, an integrated mining company, together with its subsidiaries, focuses on the discovery, production, and marketing of base and precious metals in North and South America. It produces copper concentrates containing copper, gold, and silver; and zinc metal. The company owns three polymetallic mines, four ore concentrators, and a zinc production facility in northern Manitoba and Saskatchewan, Canada, as well as in Cusco, Peru; and copper projects in Arizona and Nevada, the United States.
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