Scotiabank Cuts Hudbay Minerals (TSE:HBM) Price Target to C$13.50

Hudbay Minerals (TSE:HBM) (NYSE:HBM) had its price target reduced by Scotiabank from C$14.00 to C$13.50 in a report published on Friday,BayStreet.CA reports. They currently have an outperform rating on the mining company’s stock.

HBM has been the subject of several other reports. Canaccord Genuity Group decreased their price target on Hudbay Minerals from C$15.50 to C$14.00 and set a “buy” rating for the company in a report on Thursday, February 20th. Royal Bank of Canada increased their price target on shares of Hudbay Minerals from C$15.00 to C$16.00 and gave the company an “outperform” rating in a report on Thursday, March 13th. TD Securities reduced their price objective on Hudbay Minerals from C$15.00 to C$14.00 and set a “buy” rating for the company in a report on Thursday, February 20th. National Bankshares lowered their price objective on shares of Hudbay Minerals from C$17.00 to C$15.50 and set an “outperform” rating on the stock in a research note on Thursday, February 20th. Finally, Stifel Canada upgraded Hudbay Minerals to a “strong-buy” rating in a research report on Wednesday, March 19th. Thirteen investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of C$15.15.

Hudbay Minerals Stock Performance

Shares of HBM opened at C$10.99 on Friday. Hudbay Minerals has a 12-month low of C$9.08 and a 12-month high of C$14.33. The company has a current ratio of 1.86, a quick ratio of 0.85 and a debt-to-equity ratio of 46.39. The firm has a market cap of C$3.05 billion, a PE ratio of 30.95, a price-to-earnings-growth ratio of 3.97 and a beta of 1.83. The company’s 50 day simple moving average is C$11.58 and its 200-day simple moving average is C$11.95.

Hudbay Minerals Dividend Announcement

The company also recently announced a dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 21st were issued a $0.01 dividend. This represents a yield of 0.1%. The ex-dividend date of this dividend was Tuesday, March 4th. Hudbay Minerals’s payout ratio is currently 5.63%.

Insider Transactions at Hudbay Minerals

In other news, Senior Officer Francisco Javier Del Rio Del Aguila sold 12,959 shares of the stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of C$12.00, for a total value of C$155,508.00. Also, Director Peter Gerald Jan Kukielski purchased 9,300 shares of Hudbay Minerals stock in a transaction that occurred on Friday, February 21st. The shares were bought at an average cost of C$10.76 per share, for a total transaction of C$100,068.00. Insiders have bought a total of 11,800 shares of company stock worth $127,418 in the last three months. 0.07% of the stock is currently owned by company insiders.

About Hudbay Minerals

Hudbay Minerals Inc, a diversified mining company, focuses on the exploration, development, operation, and optimization of properties in North and South America. It produces copper concentrates containing gold, silver, and molybdenum; gold concentrates containing zinc; zinc concentrates; molybdenum concentrates; and silver/gold doré.