Hudbay Minerals (TSE:HBM) (NYSE:HBM) had its price objective decreased by equities research analysts at National Bank Financial from C$9.00 to C$6.00 in a note issued to investors on Monday, BayStreet.CA reports. The firm presently has an “outperform” rating on the mining company’s stock. National Bank Financial’s price target would indicate a potential upside of 32.74% from the stock’s previous close.
HBM has been the subject of a number of other research reports. CIBC decreased their target price on shares of Hudbay Minerals from C$9.00 to C$7.00 in a research note on Tuesday, August 6th. Eight Capital decreased their target price on shares of Hudbay Minerals from C$11.00 to C$9.00 in a research note on Friday, August 2nd. CSFB decreased their target price on shares of Hudbay Minerals from C$11.50 to C$8.75 in a research note on Tuesday, August 6th. TD Securities reduced their price target on shares of Hudbay Minerals from C$10.50 to C$7.50 and set a “buy” rating for the company in a research report on Friday, August 2nd. Finally, Canaccord Genuity raised their price target on shares of Hudbay Minerals from C$9.00 to C$10.50 in a research report on Monday, April 15th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of C$7.98.
HBM traded up C$0.02 on Monday, hitting C$4.52. The company had a trading volume of 1,215,049 shares, compared to its average volume of 1,266,667. The company has a debt-to-equity ratio of 49.18, a current ratio of 2.64 and a quick ratio of 2.09. Hudbay Minerals has a 52-week low of C$4.38 and a 52-week high of C$10.42. The business has a fifty day simple moving average of C$6.46. The firm has a market cap of $1.18 billion and a price-to-earnings ratio of 38.63.
In related news, insider Waterton Global Resource Management, Inc. acquired 500,000 shares of the stock in a transaction on Wednesday, July 10th. The stock was bought at an average cost of C$6.57 per share, with a total value of C$3,284,358.00. Following the transaction, the insider now directly owns 17,324,844 shares in the company, valued at C$113,801,979.98.
Hudbay Minerals Company Profile
Hudbay Minerals Inc, an integrated mining company, together with its subsidiaries, focuses on the discovery, production, and marketing of base and precious metals in North and South America. It produces copper concentrates containing copper, gold, and silver; and zinc metal. The company owns three polymetallic mines, four ore concentrators, and a zinc production facility in northern Manitoba and Saskatchewan, Canada, as well as in Cusco, Peru; and copper projects in Arizona and Nevada, the United States.
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