Hudbay Minerals (TSE:HBM) Price Target Raised to C$39.00 at Canaccord Genuity Group

Hudbay Minerals (TSE:HBM) (NYSE:HBM) had its target price increased by research analysts at Canaccord Genuity Group from C$35.00 to C$39.00 in a research note issued to investors on Wednesday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the mining company’s stock. Canaccord Genuity Group’s price target suggests a potential upside of 9.43% from the company’s previous close.

A number of other brokerages have also recently commented on HBM. Raymond James Financial upped their price target on Hudbay Minerals from C$34.00 to C$36.00 and gave the stock an “outperform” rating in a research report on Monday, January 26th. Desjardins raised 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 research note on Monday, January 26th. Canadian Imperial Bank of Commerce upped their price target on shares of Hudbay Minerals from C$35.00 to C$42.00 in a research report on Wednesday, February 4th. TD Securities raised 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 research report on Thursday, January 22nd. Finally, Bank of America lifted their target price on shares of Hudbay Minerals from C$22.50 to C$26.75 in a research note on Thursday, October 16th. Three investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of C$35.05.

Hudbay Minerals Stock Performance

Shares of Hudbay Minerals stock traded up C$1.21 during trading hours on Wednesday, reaching C$35.64. 1,271,423 shares of the stock traded hands, compared to its average volume of 1,929,812. Hudbay Minerals has a one year low of C$8.49 and a one year high of C$38.80. The firm has a market capitalization of C$14.12 billion, a price-to-earnings ratio of 30.72, a P/E/G 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. The company has a 50 day moving average price of C$29.75 and a 200 day moving average price of C$23.03.

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