Hudbay Minerals (TSE:HBM) Hits New 1-Year High on Analyst Upgrade

Hudbay Minerals Inc. (TSE:HBM) (NYSE:HBM) hit a new 52-week high during mid-day trading on Wednesday after Desjardins raised their price target on the stock from C$36.00 to C$40.00. Desjardins currently has a buy rating on the stock. Hudbay Minerals traded as high as C$38.91 and last traded at C$38.73, with a volume of 381830 shares traded. The stock had previously closed at C$38.12.

A number of other research analysts have also weighed in on HBM. TD Securities increased their price target on Hudbay Minerals from C$17.00 to C$43.00 and gave the stock a “buy” rating in a research note on Thursday, January 22nd. Jefferies Financial Group increased their target price on Hudbay Minerals from C$31.00 to C$37.00 in a research report on Monday, January 19th. National Bank Financial lowered Hudbay Minerals from an “outperform” rating to a “sector perform” rating and raised their price target for the stock from C$28.00 to C$40.00 in a research note on Thursday, January 29th. Canadian Imperial Bank of Commerce lifted their price target on Hudbay Minerals from C$35.00 to C$42.00 in a report on Wednesday, February 4th. Finally, Scotiabank cut their price objective on shares of Hudbay Minerals from C$37.00 to C$35.50 and set an “outperform” rating on the stock in a report on Monday. Three investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, Hudbay Minerals presently has an average rating of “Buy” and a consensus price target of C$35.78.

Hudbay Minerals Stock Performance

The stock has a 50 day simple moving average of C$31.80 and a 200 day simple moving average of C$24.60. The company has a market cap of C$15.33 billion, a price-to-earnings ratio of 33.35, a PEG ratio of 3.97 and a beta of 2.16. The company has a quick ratio of 0.85, a current ratio of 1.86 and a debt-to-equity ratio of 46.39.

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