Hudbay Minerals (TSE:HBM) Given New C$14.50 Price Target at Scotiabank

Hudbay Minerals (TSE:HBM) (NYSE:HBM) had its price target dropped by Scotiabank from C$17.00 to C$14.50 in a report issued on Monday, BayStreet.CA reports. Scotiabank’s price target suggests a potential upside of 34.38% from the company’s previous close.

Several other brokerages have also recently weighed in on HBM. Eight Capital raised their target price on shares of Hudbay Minerals from C$14.50 to C$18.00 in a report on Thursday, July 11th. BMO Capital Markets raised their price objective on shares of Hudbay Minerals from C$15.00 to C$17.00 and gave the stock an “outperform” rating in a report on Tuesday, May 21st. Royal Bank of Canada raised their price objective on shares of Hudbay Minerals from C$11.00 to C$17.00 and gave the stock an “outperform” rating in a report on Wednesday, May 15th. Canaccord Genuity Group cut their price objective on shares of Hudbay Minerals from C$16.00 to C$15.00 in a report on Monday, July 22nd. Finally, Cormark raised their price objective on shares of Hudbay Minerals from C$13.50 to C$15.00 and gave the stock a “buy” rating in a report on Monday, May 27th. Thirteen analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Hudbay Minerals has a consensus rating of “Buy” and a consensus target price of C$14.48.

Hudbay Minerals Stock Up 2.1 %

TSE:HBM traded up C$0.22 during mid-day trading on Monday, hitting C$10.79. The stock had a trading volume of 721,860 shares, compared to its average volume of 1,540,476. The stock has a 50-day simple moving average of C$11.63 and a two-hundred day simple moving average of C$10.66. The company has a market capitalization of C$4.25 billion, a PE ratio of 32.76, a PEG ratio of 3.97 and a beta of 1.84. Hudbay Minerals has a twelve month low of C$5.46 and a twelve month high of C$14.33. The company has a current ratio of 1.40, a quick ratio of 0.85 and a debt-to-equity ratio of 62.72.

Insider Activity at Hudbay Minerals

In related news, Senior Officer Peter Adamek sold 5,874 shares of Hudbay Minerals stock in a transaction on Friday, May 24th. The shares were sold at an average price of C$13.00, for a total value of C$76,362.00. In other Hudbay Minerals news, Director Gregory Paul Dryden sold 26,625 shares of the business’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of C$10.23, for a total transaction of C$272,496.23. Also, Senior Officer Peter Adamek sold 5,874 shares of the business’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of C$13.00, for a total transaction of C$76,362.00. 0.07% of the stock is currently owned by insiders.

Hudbay Minerals Company Profile

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.