Hudbay Minerals Inc (HBM) Cut to Sector Perform at National Bank Financial

National Bank Financial cut shares of Hudbay Minerals Inc (TSE:HBM) (NYSE:HBM) from an outperform rating to a sector perform rating in a research report report published on Wednesday, October 18th. The firm currently has C$13.00 price objective on the mining company’s stock, up from their prior price objective of C$11.25. National Bank Financial also issued estimates for Hudbay Minerals’ Q3 2017 earnings at $0.29 EPS, FY2017 earnings at $0.66 EPS and FY2018 earnings at $1.22 EPS.

Several other equities analysts have also commented on the company. CIBC reiterated an outperform rating and set a C$13.00 price objective on shares of Hudbay Minerals in a research report on Tuesday, October 10th. BMO Capital Markets increased their price objective on Hudbay Minerals from C$10.50 to C$10.75 and gave the company a market perform rating in a research report on Monday, October 2nd. Eight Capital reiterated a buy rating on shares of Hudbay Minerals in a research report on Thursday, August 17th. Scotiabank reiterated a focus stock rating and set a C$11.00 price objective on shares of Hudbay Minerals in a research report on Friday, August 4th. Finally, TD Securities reduced their price objective on Hudbay Minerals from C$13.50 to C$13.00 and set an action list buy rating on the stock in a research report on Friday, August 4th. Four research analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the stock. The company has an average rating of Buy and a consensus price target of C$12.09.

Shares of Hudbay Minerals (HBM) traded up C$0.51 during midday trading on Wednesday, reaching C$10.36. The company’s stock had a trading volume of 2,484,610 shares, compared to its average volume of 2,080,000. Hudbay Minerals has a fifty-two week low of C$5.86 and a fifty-two week high of C$11.95.

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In other news, insider Gmt Capital Corp bought 5,900 shares of the stock in a transaction dated Monday, September 18th. The stock was bought at an average price of C$7.60 per share, for a total transaction of C$44,840.00. In the last 90 days, insiders bought 57,300 shares of company stock valued at $428,831.

Hudbay Minerals Company Profile

Hudbay Minerals Inc is a Canada-based mining company. The Company is engaged in the production of copper concentrate, consisting of copper, gold and silver, as well as zinc metal. The Company is focused on the discovery, production and marketing of base and precious metals. The Company has assets in North and South America.

Analyst Recommendations for Hudbay Minerals (TSE:HBM)

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