Hudbay Minerals (TSE:HBM) Reaches New 12-Month High on Analyst Upgrade

Hudbay Minerals Inc. (TSE:HBM) (NYSE:HBM)’s share price reached a new 52-week high on Monday after Jefferies Financial Group raised their price target on the stock from C$31.00 to C$37.00. The stock traded as high as C$32.51 and last traded at C$32.50, with a volume of 346361 shares changing hands. The stock had previously closed at C$31.34.

A number of other brokerages have also recently issued reports on HBM. Royal Bank Of Canada raised their price objective on Hudbay Minerals from C$26.00 to C$28.00 in a research report on Wednesday, December 10th. Stifel Nicolaus raised their price target on Hudbay Minerals from C$20.00 to C$28.00 in a report on Tuesday, October 21st. Bank of America upped their price target on shares of Hudbay Minerals from C$22.50 to C$26.75 in a research note on Thursday, October 16th. Citigroup set a C$23.00 price objective on shares of Hudbay Minerals and gave the company a “buy” rating in a research report on Monday, December 15th. Finally, BMO Capital Markets lifted their target price on shares of Hudbay Minerals from C$23.00 to C$24.00 in a report on Tuesday, November 18th. Four equities research analysts have rated the stock with a Strong Buy rating and nine have issued a Buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of C$25.75.

Hudbay Minerals Price Performance

The company has a market capitalization of C$13.52 billion, a P/E ratio of 29.42, a price-to-earnings-growth ratio of 3.97 and a beta of 2.05. The company has a debt-to-equity ratio of 46.39, a current ratio of 1.86 and a quick ratio of 0.85. The firm’s 50-day moving average is C$26.14 and its 200-day moving average is C$20.89.

Hudbay Minerals (TSE:HBM) (NYSE:HBM) last released its quarterly earnings results on Wednesday, November 12th. The mining company reported C$0.03 earnings per share for the quarter. Hudbay Minerals had a net margin of 4.23% and a return on equity of 3.74%. The business had revenue of C$0.35 million for the quarter. Analysts predict that Hudbay Minerals Inc. will post 1.1220575 EPS for the current fiscal year.

Hudbay Minerals Company Profile

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.