Scotiabank Forecasts Strong Price Appreciation for Hudbay Minerals (TSE:HBM) Stock

Hudbay Minerals (TSE:HBM) (NYSE:HBM) had its target price hoisted by stock analysts at Scotiabank from C$14.00 to C$15.50 in a research note issued to investors on Monday,BayStreet.CA reports. Scotiabank’s price objective suggests a potential upside of 14.48% from the company’s current price.

A number of other brokerages have also recently weighed in on HBM. Raymond James lifted their price objective on shares of Hudbay Minerals from C$16.00 to C$17.00 in a research note on Friday, April 4th. Jefferies Financial Group lifted their price target on Hudbay Minerals from C$14.00 to C$17.00 in a research report on Friday, April 4th. Canaccord Genuity Group cut their price objective 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. Desjardins raised their target price on Hudbay Minerals from C$16.00 to C$17.00 and gave the company a “buy” rating in a research note on Thursday, May 22nd. Finally, Stifel Canada upgraded shares of Hudbay Minerals to a “strong-buy” rating in a research report on Wednesday, March 19th. Nine analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Hudbay Minerals presently has a consensus rating of “Buy” and a consensus price target of C$15.92.

Hudbay Minerals Stock Performance

HBM traded up C$0.40 during trading hours on Monday, hitting C$13.54. The company’s stock had a trading volume of 815,403 shares, compared to its average volume of 1,724,673. The company has a 50-day simple moving average of C$11.17 and a 200 day simple moving average of C$11.55. 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 capitalization of C$3.76 billion, a PE ratio of 38.13, a PEG ratio of 3.97 and a beta of 1.83. Hudbay Minerals has a fifty-two week low of C$8.49 and a fifty-two week high of C$13.94.

Insider Activity

In related news, Senior Officer Francisco Javier Del Rio Del Aguila sold 12,959 shares of the company’s stock in a transaction on Thursday, March 20th. The shares were sold at an average price of C$12.00, for a total value of C$155,508.00. Also, Director Gregory Paul Dryden sold 30,000 shares of the stock in a transaction on Friday, June 6th. The stock was sold at an average price of C$13.21, for a total transaction of C$396,204.00. Insiders sold a total of 47,033 shares of company stock worth $603,461 in the last three months. 0.07% of the stock is owned by insiders.

Hudbay Minerals Company Profile

Hudbay Minerals Inc is a Canadian mining company with its operations, property developments, and exploration activities across the United States. The major mines that Hudbay operates are located in Manitoba, Canada, Arizona, United States; and Peru. The company is principally focused on the discovery, production, and marketing of base and precious metals.