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

Hudbay Minerals (TSE:HBM) (NYSE:HBM) had its target price boosted by research analysts at Scotiabank from C$35.50 to C$44.00 in a research note issued to investors on Thursday,BayStreet.CA reports. The firm currently has a “sector outperform” rating on the mining company’s stock. Scotiabank’s target price suggests a potential upside of 31.97% from the company’s previous close.

HBM has been the topic of several other research reports. Desjardins set a C$40.00 price target on Hudbay Minerals and gave the stock a “buy” rating in a report on Thursday, March 5th. Canadian Imperial Bank of Commerce upped their target price on Hudbay Minerals from C$42.00 to C$46.00 in a research report on Tuesday, April 21st. Bank of America increased their target price on Hudbay Minerals from C$37.75 to C$44.50 in a report on Thursday, February 26th. Barclays set a C$41.00 price target on shares of Hudbay Minerals and gave the company an “overweight” rating in a research report on Friday, May 22nd. Finally, BMO Capital Markets upped their price objective on shares of Hudbay Minerals from C$33.00 to C$39.00 in a report on Wednesday, April 22nd. Three investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of C$39.75.

Hudbay Minerals Stock Up 2.1%

Shares of TSE HBM traded up C$0.69 during trading on Thursday, hitting C$33.34. 1,383,274 shares of the company traded hands, compared to its average volume of 2,107,298. The business’s fifty day moving average is C$35.97 and its 200 day moving average is C$32.60. Hudbay Minerals has a fifty-two week low of C$12.35 and a fifty-two week high of C$44.48. The firm has a market capitalization of C$13.24 billion, a price-to-earnings ratio of 19.96, a P/E/G ratio of 3.97 and a beta of 2.24. The company has a debt-to-equity ratio of 30.14, a quick ratio of 0.85 and a current ratio of 1.36.

Hudbay Minerals (TSE:HBM) (NYSE:HBM) last released its quarterly earnings data on Friday, May 1st. The mining company reported C$0.56 earnings per share (EPS) for the quarter. The company had revenue of C$1.05 billion for the quarter. Hudbay Minerals had a net margin of 27.86% and a return on equity of 20.70%. Equities research analysts predict that Hudbay Minerals will post 1.1220575 earnings per share for the current fiscal year.

Insider Buying and Selling at Hudbay Minerals

In related news, insider Eugene Chi-Yen Lei bought 1,000 shares of the business’s stock in a transaction that occurred on Friday, March 27th. The shares were bought at an average price of C$26.85 per share, with a total value of C$26,850.00. Following the completion of the transaction, the insider directly owned 195,847 shares in the company, valued at approximately C$5,258,491.95. This represents a 0.51% increase in their ownership of the stock. 0.07% of the stock is owned by corporate insiders.

About Hudbay Minerals

Hudbay (TSX, NYSE: HBM) is a copper-focused critical minerals mining company with three long-life operations and a world-class pipeline of copper growth projects in tier-one mining jurisdictions of Canada, Peru and the United States. Hudbay’s operating portfolio includes the Constancia mine in Cusco (Peru), the Snow Lake operations in Manitoba (Canada) and the Copper Mountain mine in British Columbia (Canada). Copper is the primary metal produced by the Company, which is complemented by meaningful gold production and by-product zinc, silver and molybdenum.