Hudbay Minerals (TSE:HBM) Price Target Raised to C$40.00

Hudbay Minerals (TSE:HBM) (NYSE:HBM) had its price objective upped by ATB Cormark Capital Markets from C$35.00 to C$40.00 in a research report sent to investors on Friday morning,BayStreet reports. ATB Cormark Capital Markets currently has an outperform rating on the mining company’s stock.

HBM has been the subject of a number of other reports. Haywood Securities upped their price objective on Hudbay Minerals from C$43.00 to C$45.00 in a research note on Wednesday, September 30th. Royal Bank Of Canada raised their price objective on Hudbay Minerals from C$40.00 to C$48.00 in a research report on Wednesday, September 16th. BMO Capital Markets cut their target price on Hudbay Minerals from C$46.00 to C$44.00 and set an “outperform” rating on the stock in a research note on Thursday, July 30th. Scotiabank cut their target price on Hudbay Minerals from C$44.00 to C$43.00 and set a “sector outperform” rating on the stock in a research note on Thursday, July 30th. Finally, Canaccord Genuity Group reduced their target price 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, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of C$42.56.

Hudbay Minerals Trading Up 3.2%

HBM opened at C$37.24 on Friday. Hudbay Minerals has a 52 week low of C$20.26 and a 52 week high of C$44.48. The company has a market capitalization of C$16.54 billion, a P/E ratio of 22.87, a PEG ratio of 3.97 and a beta of 2.37. The stock’s fifty day moving average is C$37.99 and its two-hundred day moving average is C$35.18. The company has a quick ratio of 0.85, a current ratio of 2.24 and a debt-to-equity ratio of 19.04.

Hudbay Minerals (TSE:HBM) (NYSE:HBM) last posted its quarterly earnings results on Wednesday, July 29th. The mining company reported C$0.40 earnings per share (EPS) for the quarter. Hudbay Minerals had a return on equity of 18.41% and a net margin of 27.22%. The business had revenue of C$896.94 million for the quarter. Analysts forecast that Hudbay Minerals will post 1.12 earnings per share for the current year.

Hudbay Minerals Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Friday, September 25th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Tuesday, September 8th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.1%. Hudbay Minerals’s dividend payout ratio is presently 1.32%.

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.