Canaccord Genuity Group Has Lowered Expectations for Hudbay Minerals (TSE:HBM) Stock Price

Hudbay Minerals (TSE:HBM) (NYSE:HBM) had its price target lowered by investment analysts at Canaccord Genuity Group from C$41.00 to C$40.00 in a report issued on Monday,BayStreet.CA reports. Canaccord Genuity Group’s price target indicates a potential upside of 33.60% from the company’s previous close.

HBM has been the subject of a number of other research reports. Stifel Nicolaus boosted their price objective on Hudbay Minerals from C$28.00 to C$41.00 and gave the company a “buy” rating in a report on Wednesday, February 11th. Canadian Imperial Bank of Commerce boosted their price objective on Hudbay Minerals from C$42.00 to C$46.00 in a report on Tuesday, April 21st. Bank of America boosted their price objective on Hudbay Minerals from C$37.75 to C$44.50 in a report on Thursday, February 26th. ATB Cormark Capital Markets lifted their target price on Hudbay Minerals from C$26.00 to C$37.50 and gave the company an “outperform” rating in a research report on Monday, February 23rd. Finally, Raymond James Financial lifted their target price on Hudbay Minerals from C$34.00 to C$36.00 and gave the company an “outperform” rating in a research report on Monday, January 26th. Two research 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. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of C$39.10.

Hudbay Minerals Trading Down 3.5%

HBM traded down C$1.08 during trading hours on Monday, reaching C$29.94. 808,571 shares of the company’s stock traded hands, compared to its average volume of 2,103,742. The firm has a 50-day moving average price of C$31.61 and a 200 day moving average price of C$28.85. Hudbay Minerals has a 52-week low of C$10.17 and a 52-week high of C$38.94. The company has a quick ratio of 0.85, a current ratio of 1.36 and a debt-to-equity ratio of 30.14. The firm has a market capitalization of C$11.89 billion, a PE ratio of 20.79, a PEG ratio of 3.97 and a beta of 2.28.

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

Insider Activity at Hudbay Minerals

In related news, insider Eugene Chi-Yen Lei purchased 1,000 shares of Hudbay Minerals stock in a transaction dated Friday, March 27th. The stock was purchased at an average cost of C$26.85 per share, with a total value of C$26,850.00. Following the transaction, the insider owned 195,847 shares in the company, valued at approximately C$5,258,491.95. The trade was a 0.51% increase in their position. Insiders own 0.07% of the company’s stock.

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.