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

Hudbay Minerals (TSE:HBM) (NYSE:HBM) had its target price hoisted by equities research analysts at TD from C$43.00 to C$44.00 in a research report issued on Thursday, BayStreet reports. The brokerage currently has a “buy” rating on the mining company’s stock. TD‘s price objective suggests a potential upside of 43.46% from the company’s current price.

Several other equities research analysts also recently commented on HBM. Stifel Nicolaus boosted their target price on shares of Hudbay Minerals from C$41.00 to C$43.00 and gave the stock a “buy” rating in a research report on Tuesday, July 21st. ATB Cormark Capital Markets upped their target price on shares of Hudbay Minerals from C$35.00 to C$40.00 and gave the stock an “outperform” rating in a report on Friday, October 9th. Jefferies Financial Group dropped their price target on shares of Hudbay Minerals from C$57.00 to C$50.00 in a research report on Monday, July 6th. Barclays lifted their price target on Hudbay Minerals from C$41.00 to C$45.00 in a research note on Thursday, July 16th. Finally, Canaccord Genuity Group decreased their price objective on Hudbay Minerals from C$40.00 to C$39.50 and set a “buy” rating for the company in a report on Thursday, July 30th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Hudbay Minerals presently has a consensus rating of “Buy” and an average price target of C$42.58.

Hudbay Minerals Stock Down 9.0%

HBM stock traded down C$3.04 during midday trading on Thursday, reaching C$30.67. 3,702,610 shares of the company’s stock traded hands, compared to its average volume of 2,155,290. The company has a market cap of C$13.62 billion, a price-to-earnings ratio of 18.84, a P/E/G ratio of 3.97 and a beta of 2.37. The firm’s fifty day moving average price is C$37.64 and its 200-day moving average price is C$35.56. The company has a quick ratio of 0.85, a current ratio of 2.24 and a debt-to-equity ratio of 19.04. Hudbay Minerals has a 52 week low of C$20.26 and a 52 week high of C$44.48.

Hudbay Minerals (TSE:HBM) (NYSE:HBM) last released its quarterly earnings data on Wednesday, July 29th. The mining company reported C$0.40 earnings per share for the quarter. Hudbay Minerals had a net margin of 27.22% and a return on equity of 18.41%. The firm had revenue of C$896.94 million for the quarter. As a group, sell-side analysts forecast that Hudbay Minerals will post 1.12 earnings per share for the current fiscal year.

About Hudbay Minerals

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.