Royal Bank Of Canada Forecasts Strong Price Appreciation for Hudbay Minerals (TSE:HBM) Stock

Hudbay Minerals (TSE:HBM) (NYSE:HBM) had its price objective upped by equities research analysts at Royal Bank Of Canada from C$40.00 to C$48.00 in a research note issued on Wednesday, BayStreet reports. Royal Bank Of Canada’s target price would suggest a potential upside of 35.98% from the stock’s current price.

HBM has been the subject of several other research reports. Raymond James Financial raised their target price on Hudbay Minerals from C$41.00 to C$42.00 and gave the stock an “outperform” rating in a research report on Friday, September 4th. Barclays increased their price objective on Hudbay Minerals from C$41.00 to C$45.00 in a research note on Thursday, July 16th. Canaccord Genuity Group reduced their target price on shares of Hudbay Minerals from C$40.00 to C$39.50 and set a “buy” rating on the stock in a research note on Thursday, July 30th. Scotiabank lowered their target price on shares of Hudbay Minerals from C$44.00 to C$43.00 and set a “sector outperform” rating on the stock in a report on Thursday, July 30th. Finally, ATB Cormark Capital Markets dropped their target price on shares of Hudbay Minerals from C$35.50 to C$35.00 and set an “outperform” rating for the company in a research report on Thursday, July 30th. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of C$41.78.

Hudbay Minerals Price Performance

TSE HBM traded up C$0.18 on Wednesday, reaching C$35.30. The company’s stock had a trading volume of 680,902 shares, compared to its average volume of 2,151,103. Hudbay Minerals has a 52 week low of C$18.00 and a 52 week high of C$44.48. The company has a current ratio of 2.24, a quick ratio of 0.85 and a debt-to-equity ratio of 19.04. The firm has a market cap of C$15.68 billion, a PE ratio of 21.68, a price-to-earnings-growth ratio of 3.97 and a beta of 2.31. The business has a 50-day moving average price of C$35.55 and a 200 day moving average price of C$34.32.

Hudbay Minerals (TSE:HBM) (NYSE:HBM) last announced its quarterly earnings results on Wednesday, July 29th. The mining company reported C$0.40 EPS for the quarter. The firm had revenue of C$896.94 million during the quarter. Hudbay Minerals had a net margin of 27.22% and a return on equity of 18.41%. Sell-side analysts expect that Hudbay Minerals will post 1.1220575 EPS for the current year.

Hudbay Minerals Company Profile

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.