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

Hudbay Minerals (TSE:HBM) (NYSE:HBM) had its price objective decreased by equities research analysts at Scotiabank from C$26.50 to C$26.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. Scotiabank’s price target suggests a potential upside of 17.43% from the company’s previous close.

A number of other analysts have also issued reports on HBM. The Goldman Sachs Group raised Hudbay Minerals to a “buy” rating in a research report on Monday, September 8th. Royal Bank Of Canada raised their price target on shares of Hudbay Minerals from C$19.00 to C$20.00 in a research note on Wednesday, September 10th. Bank of America lifted their price objective on Hudbay Minerals from C$22.50 to C$26.75 in a report on Thursday, October 16th. Jefferies Financial Group lifted their target price on shares of Hudbay Minerals from C$25.00 to C$28.00 in a research note on Friday, October 17th. Finally, Raymond James Financial raised their target price on Hudbay Minerals from C$17.00 to C$18.50 in a research note on Thursday, August 21st. Three equities research analysts have rated the stock with a Strong Buy rating and eight have given a Buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of C$21.83.

Hudbay Minerals Stock Down 7.1%

Hudbay Minerals stock traded down C$1.69 during mid-day trading on Thursday, hitting C$22.14. The company’s stock had a trading volume of 1,645,932 shares, compared to its average volume of 1,802,709. 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 has a 52-week low of C$8.49 and a 52-week high of C$24.75. The firm’s 50 day moving average is C$21.22 and its 200 day moving average is C$16.11. The company has a market cap of C$8.76 billion, a PE ratio of 30.33, a price-to-earnings-growth ratio of 3.97 and a beta of 2.41.

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.