Desjardins Forecasts Strong Price Appreciation for Hudbay Minerals (TSE:HBM) Stock

Hudbay Minerals (TSE:HBM) (NYSE:HBM) had its price target boosted by stock analysts at Desjardins from C$30.00 to C$36.00 in a research note issued on Monday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the mining company’s stock. Desjardins’ price target would suggest a potential upside of 2.53% from the company’s current price.

A number of other research firms have also recently issued reports on HBM. Raymond James Financial increased their target price on Hudbay Minerals from C$34.00 to C$36.00 and gave the stock an “outperform” rating in a research note on Monday. Royal Bank Of Canada increased their price objective on shares of Hudbay Minerals from C$26.00 to C$28.00 in a research report on Wednesday, December 10th. Stifel Nicolaus boosted their price objective on shares of Hudbay Minerals from C$20.00 to C$28.00 in a research report on Tuesday, October 21st. TD Securities upped their target price on shares of Hudbay Minerals from C$17.00 to C$43.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, UBS Group set a C$34.50 price target on Hudbay Minerals and gave the company a “buy” rating in a research note on Friday, January 9th. Three research analysts have rated the stock with a Strong Buy rating and ten have issued a Buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of C$29.71.

Hudbay Minerals Price Performance

Shares of HBM stock traded up C$0.87 during trading hours on Monday, hitting C$35.11. The company had a trading volume of 1,400,415 shares, compared to its average volume of 1,575,643. The firm’s fifty day moving average is C$26.79 and its 200 day moving average is C$21.28. The company has a debt-to-equity ratio of 46.39, a quick ratio of 0.85 and a current ratio of 1.86. The firm has a market capitalization of C$13.91 billion, a price-to-earnings ratio of 30.27, a PEG ratio of 3.97 and a beta of 2.05. Hudbay Minerals has a 12 month low of C$8.49 and a 12 month high of C$36.25.

Hudbay Minerals (TSE:HBM) (NYSE:HBM) last announced its earnings results on Wednesday, November 12th. The mining company reported C$0.03 earnings per share (EPS) for the quarter. The company had revenue of C$0.35 million for the quarter. Hudbay Minerals had a net margin of 4.23% and a return on equity of 3.74%. On average, sell-side analysts predict 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.