Scotiabank Issues Positive Forecast for Hudbay Minerals (TSE:HBM) Stock Price

Hudbay Minerals (TSE:HBM) (NYSE:HBM) had its price objective upped by equities researchers at Scotiabank from C$26.00 to C$31.00 in a report released on Thursday,BayStreet.CA reports. Scotiabank’s target price would suggest a potential upside of 7.79% from the stock’s current price.

A number of other equities research analysts have also recently issued reports on the stock. Citigroup set a C$23.00 target price on shares of Hudbay Minerals and gave the company a “buy” rating in a report on Monday, December 15th. Royal Bank Of Canada boosted their price target on Hudbay Minerals from C$26.00 to C$28.00 in a research report on Wednesday, December 10th. Jefferies Financial Group upped their price objective on Hudbay Minerals from C$27.00 to C$31.00 in a research note on Monday, December 8th. Desjardins lifted their target price on Hudbay Minerals from C$26.00 to C$30.00 and gave the stock a “buy” rating in a research note on Monday, December 15th. Finally, BMO Capital Markets boosted their target price on Hudbay Minerals from C$23.00 to C$24.00 in a report on Tuesday, November 18th. Three analysts have rated the stock with a Strong Buy rating and nine have given a Buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of C$24.52.

Hudbay Minerals Stock Down 2.0%

Shares of Hudbay Minerals stock traded down C$0.59 on Thursday, reaching C$28.76. 608,736 shares of the company were exchanged, compared to its average volume of 1,283,046. The company has a market capitalization of C$11.39 billion, a price-to-earnings ratio of 24.79, a PEG ratio of 3.97 and a beta of 2.05. The company has a current ratio of 1.86, a quick ratio of 0.85 and a debt-to-equity ratio of 46.39. Hudbay Minerals has a one year low of C$8.49 and a one year high of C$30.50. The company has a 50-day moving average of C$24.51 and a 200 day moving average of C$19.75.

Hudbay Minerals (TSE:HBM) (NYSE:HBM) last issued its earnings results on Wednesday, November 12th. The mining company reported C$0.03 earnings per share for the quarter. Hudbay Minerals had a net margin of 4.23% and a return on equity of 3.74%. The business had revenue of C$0.35 million for the quarter. On average, equities research analysts forecast that Hudbay Minerals will post 1.1220575 earnings per share for the current 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.