Scotiabank Cuts Hudbay Minerals (TSE:HBM) Price Target to C$35.50

Hudbay Minerals (TSE:HBM) (NYSE:HBM) had its price objective reduced by Scotiabank from C$37.00 to C$35.50 in a research note published on Monday,BayStreet.CA reports. Scotiabank currently has an outperform rating on the mining company’s stock.

Several other brokerages also recently commented on HBM. Jefferies Financial Group boosted their target price on Hudbay Minerals from C$31.00 to C$37.00 in a research note on Monday, January 19th. Canaccord Genuity Group lifted their price target on shares of Hudbay Minerals from C$35.00 to C$39.00 and gave the company a “buy” rating in a report on Wednesday, February 11th. Raymond James Financial increased their price objective on shares of Hudbay Minerals from C$34.00 to C$36.00 and gave the company an “outperform” rating in a research note on Monday, January 26th. Royal Bank Of Canada raised their target price on shares of Hudbay Minerals from C$26.00 to C$28.00 in a research report on Wednesday, December 10th. Finally, Desjardins boosted 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. Three equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of C$35.78.

Hudbay Minerals Stock Down 0.6%

TSE HBM opened at C$37.90 on Monday. The business has a fifty day moving average price of C$32.04 and a two-hundred day moving average price of C$24.69. The stock has a market capitalization of C$15.01 billion, a PE ratio of 32.67, a PEG ratio of 3.97 and a beta of 2.16. Hudbay Minerals has a fifty-two week low of C$8.49 and a fifty-two week high of C$38.91. The company has a debt-to-equity ratio of 46.39, a current ratio of 1.86 and a quick ratio of 0.85.

Hudbay Minerals (TSE:HBM) (NYSE:HBM) last issued its quarterly earnings results on Friday, February 20th. The mining company reported C$0.30 earnings per share (EPS) for the quarter. Hudbay Minerals had a return on equity of 3.74% and a net margin of 4.23%.The company had revenue of C$747.72 million for the quarter. Equities 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.