Hudbay Minerals (TSE:HBM) Stock Price Expected to Rise, Desjardins Analyst Says

Hudbay Minerals (TSE:HBM) (NYSE:HBM) had its price objective lifted by investment analysts at Desjardins from C$36.00 to C$40.00 in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the mining company’s stock. Desjardins’ target price points to a potential upside of 6.41% from the company’s current price.

Other research analysts also recently issued reports about the stock. Jefferies Financial Group boosted their price objective on shares of Hudbay Minerals from C$31.00 to C$37.00 in a research report on Monday, January 19th. Scotiabank dropped their price target on shares of Hudbay Minerals from C$37.00 to C$35.50 and set an “outperform” rating on the stock in a research note on Monday. National Bank Financial lowered Hudbay Minerals from an “outperform” rating to a “sector perform” rating and increased their price objective for the stock from C$28.00 to C$40.00 in a report on Thursday, January 29th. Royal Bank Of Canada boosted their target price on Hudbay Minerals from C$26.00 to C$28.00 in a research note on Wednesday, December 10th. Finally, Canadian Imperial Bank of Commerce upped their target price on Hudbay Minerals from C$35.00 to C$42.00 in a research report on Wednesday, February 4th. Three investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of C$35.78.

Hudbay Minerals Stock Up 5.2%

Shares of Hudbay Minerals stock traded up C$1.85 during midday trading on Tuesday, hitting C$37.59. The company’s stock had a trading volume of 1,080,864 shares, compared to its average volume of 2,061,151. Hudbay Minerals has a 1-year low of C$8.49 and a 1-year high of C$38.80. The company has a quick ratio of 0.85, a current ratio of 1.86 and a debt-to-equity ratio of 46.39. The firm has a market capitalization of C$14.89 billion, a P/E ratio of 32.41, a PEG ratio of 3.97 and a beta of 2.16. The stock has a 50-day simple moving average of C$31.55 and a 200-day simple moving average of C$24.43.

Hudbay Minerals (TSE:HBM) (NYSE:HBM) last announced its quarterly earnings data on Friday, February 20th. The mining company reported C$0.30 earnings per share (EPS) for the quarter. Hudbay Minerals had a return on equity of 3.74% and a net margin of 4.23%.The firm had revenue of C$747.72 million during the quarter. As a group, sell-side analysts expect that Hudbay Minerals will post 1.1220575 earnings per share for the current year.

About Hudbay Minerals

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.