ATB Cormark Capital Markets Cuts Hudbay Minerals (TSE:HBM) Price Target to C$35.00

Hudbay Minerals (TSE:HBM) (NYSE:HBM) had its price target cut by analysts at ATB Cormark Capital Markets from C$35.50 to C$35.00 in a note issued to investors on Thursday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the mining company’s stock. ATB Cormark Capital Markets’ target price indicates a potential upside of 10.06% from the stock’s current price.

Several other brokerages have also commented on HBM. Canaccord Genuity Group cut their price target on shares of Hudbay Minerals from C$40.00 to C$39.50 and set a “buy” rating for the company in a report on Thursday. Barclays lifted their target price on shares of Hudbay Minerals from C$41.00 to C$45.00 in a research report on Thursday, July 16th. Stifel Nicolaus boosted their target price on shares of Hudbay Minerals from C$41.00 to C$43.00 and gave the stock a “buy” rating in a research note on Tuesday, July 21st. Scotiabank upped their price target on shares of Hudbay Minerals from C$35.50 to C$44.00 and gave the stock a “sector outperform” rating in a research report on Thursday, June 25th. Finally, Jefferies Financial Group reduced their price target on shares of Hudbay Minerals from C$57.00 to C$50.00 in a research report on Monday, July 6th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of C$40.91.

Hudbay Minerals Stock Performance

TSE HBM traded up C$0.90 on Thursday, reaching C$31.80. 1,574,448 shares of the company’s stock traded hands, compared to its average volume of 2,185,031. Hudbay Minerals has a fifty-two week low of C$12.44 and a fifty-two week high of C$44.48. The company has a debt-to-equity ratio of 30.14, a quick ratio of 0.85 and a current ratio of 1.36. The firm has a market cap of C$14.12 billion, a price-to-earnings ratio of 19.04, a P/E/G ratio of 3.97 and a beta of 2.36. The stock has a 50 day moving average price of C$34.80 and a 200-day moving average price of C$33.43.

Hudbay Minerals (TSE:HBM) (NYSE:HBM) last issued its quarterly earnings results on Wednesday, July 29th. The mining company reported C$0.40 earnings per share (EPS) for the quarter. The company had revenue of C$896.94 million for the quarter. Hudbay Minerals had a return on equity of 20.70% and a net margin of 27.86%. Equities research analysts predict that Hudbay Minerals will post 1.1220575 EPS for the current fiscal year.

Hudbay Minerals Company Profile

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.