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

Hudbay Minerals (TSE:HBM) (NYSE:HBM) had its target price hoisted by equities research analysts at Barclays from C$41.00 to C$45.00 in a note issued to investors on Thursday,BayStreet.CA reports. Barclays‘s price objective would suggest a potential upside of 55.01% from the stock’s previous close.

A number of other equities analysts also recently issued reports on the company. Jefferies Financial Group decreased their price objective on Hudbay Minerals from C$57.00 to C$50.00 in a report on Monday, July 6th. National Bank Financial reduced their target price on shares of Hudbay Minerals from C$40.00 to C$38.50 and set a “sector perform” rating on the stock in a research report on Tuesday. BMO Capital Markets increased their price target on shares of Hudbay Minerals from C$33.00 to C$39.00 in a research note on Wednesday, April 22nd. Scotiabank boosted their price objective on shares of Hudbay Minerals from C$35.50 to C$44.00 and gave the stock a “sector outperform” rating in a research note on Thursday, June 25th. Finally, Canaccord Genuity Group cut their price objective on shares of Hudbay Minerals from C$41.00 to C$40.00 in a report on Monday, May 4th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Hudbay Minerals currently has a consensus rating of “Buy” and an average target price of C$40.72.

Hudbay Minerals Stock Down 5.9%

Shares of HBM stock traded down C$1.83 during midday trading on Thursday, reaching C$29.03. 1,031,121 shares of the stock were exchanged, compared to its average volume of 2,175,647. Hudbay Minerals has a 1 year low of C$12.35 and a 1 year high of C$44.48. The company’s 50 day moving average is C$35.61 and its two-hundred day moving average is C$33.23. The company has a current ratio of 1.36, a quick ratio of 0.85 and a debt-to-equity ratio of 30.14. The firm has a market cap of C$12.89 billion, a PE ratio of 17.38, a price-to-earnings-growth ratio of 3.97 and a beta of 2.36.

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

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.