Scotiabank Cuts Hudbay Minerals (TSE:HBM) Price Target to C$35.50

Hudbay Minerals (TSE:HBM) (NYSE:HBM) had its price target cut by research analysts at Scotiabank from C$37.00 to C$35.50 in a research report issued on Monday,BayStreet.CA reports. The firm currently has an “outperform” rating on the mining company’s stock. Scotiabank’s price target indicates a potential downside of 1.06% from the stock’s current price.

Several other brokerages have also commented on HBM. Canadian Imperial Bank of Commerce upped their price target on Hudbay Minerals from C$35.00 to C$42.00 in a research note on Wednesday, February 4th. UBS Group set a C$34.50 target price on shares of Hudbay Minerals and gave the company a “buy” rating in a research report on Friday, January 9th. BMO Capital Markets lifted their price target on shares of Hudbay Minerals from C$23.00 to C$24.00 in a research report on Tuesday, November 18th. Royal Bank Of Canada boosted their price target on shares of Hudbay Minerals from C$26.00 to C$28.00 in a research note on Wednesday, December 10th. Finally, ATB Cormark Capital Markets increased their price objective on shares of Hudbay Minerals from C$26.00 to C$37.50 and gave the stock an “outperform” rating in a research report on Monday. Three investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of C$35.52.

Hudbay Minerals Trading Up 4.9%

HBM stock traded up C$1.69 during trading on Monday, reaching C$35.88. 1,554,714 shares of the stock were exchanged, compared to its average volume of 2,068,852. 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$14.21 billion, a price-to-earnings ratio of 30.93, a P/E/G ratio of 3.97 and a beta of 2.16. The business has a 50 day moving average price of C$31.35 and a 200-day moving average price of C$24.26. Hudbay Minerals has a 1 year low of C$8.49 and a 1 year high of C$38.80.

Hudbay Minerals (TSE:HBM) (NYSE:HBM) last posted its quarterly earnings results on Friday, February 20th. The mining company reported C$0.30 earnings per share for the quarter. The business had revenue of C$747.72 million during the quarter. Hudbay Minerals had a net margin of 4.23% and a return on equity of 3.74%. On average, research analysts predict that Hudbay Minerals will post 1.1220575 earnings per share for the current year.

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. Hudbay produces copper concentrate, which contains copper, gold, and silver, as well as zinc metal. More than half the company’s revenue is attributable to the copper business.