Hudbay Minerals (TSE:HBM) Hits New 12-Month High on Analyst Upgrade

Hudbay Minerals Inc. (TSE:HBM) (NYSE:HBM) shares reached a new 52-week high during trading 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 traded. The stock had previously closed at C$38.12.

Several other research firms have also weighed in on HBM. Canadian Imperial Bank of Commerce increased their target price on shares of Hudbay Minerals from C$35.00 to C$42.00 in a research note on Wednesday, February 4th. BMO Capital Markets upped their target price on Hudbay Minerals from C$23.00 to C$24.00 in a research note on Tuesday, November 18th. Citigroup increased their target price on Hudbay Minerals from C$23.00 to C$32.50 and gave the company a “buy” rating in a research report on Wednesday, February 11th. ATB Cormark Capital Markets boosted their price target on shares of Hudbay Minerals from C$26.00 to C$37.50 and gave the stock an “outperform” rating in a report on Monday. Finally, Scotiabank decreased their price objective on shares of Hudbay Minerals from C$37.00 to C$35.50 and set an “outperform” rating on the stock in a report on Monday. Three analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Hudbay Minerals presently has a consensus rating of “Buy” and an average target price of C$35.78.

Hudbay Minerals Trading Up 1.5%

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$15.33 billion, a price-to-earnings ratio of 33.35, a PEG ratio of 3.97 and a beta of 2.16. The company has a 50-day moving average price of C$31.80 and a 200-day moving average price of C$24.60.

Hudbay Minerals (TSE:HBM) (NYSE:HBM) last announced its earnings results on Friday, February 20th. The mining company reported C$0.30 earnings per share (EPS) 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%. As a group, research analysts forecast 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.