Hudbay Minerals (TSE:HBM) Stock Price Expected to Rise, Bank of America Analyst Says

Hudbay Minerals (TSE:HBM) (NYSE:HBM) had its price target boosted by equities researchers at Bank of America from C$37.75 to C$44.50 in a report issued on Thursday,BayStreet.CA reports. Bank of America‘s price objective suggests a potential upside of 15.14% from the company’s current price.

A number of other brokerages have also commented on HBM. UBS Group set a C$34.50 target price on Hudbay Minerals and gave the company a “buy” rating in a research note on Friday, January 9th. Jefferies Financial Group increased their price objective on shares of Hudbay Minerals from C$31.00 to C$37.00 in a research note on Monday, January 19th. Desjardins lifted their target price on shares of Hudbay Minerals from C$36.00 to C$40.00 and gave the company a “buy” rating in a research report on Tuesday. Canaccord Genuity Group upped their target price on shares of Hudbay Minerals from C$35.00 to C$39.00 and gave the company a “buy” rating in a research note on Wednesday, February 11th. Finally, Scotiabank cut their price target on shares of Hudbay Minerals from C$37.00 to C$35.50 and set an “outperform” rating for the company in a research note on Monday, February 23rd. Three analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of C$36.97.

Hudbay Minerals Stock Up 0.8%

Shares of HBM opened at C$38.65 on Thursday. The company has a debt-to-equity ratio of 46.39, a quick ratio of 0.85 and a current ratio of 1.86. The company has a 50-day simple moving average of C$32.52 and a 200-day simple moving average of C$24.97. Hudbay Minerals has a 52 week low of C$8.49 and a 52 week high of C$38.94. The firm has a market capitalization of C$15.31 billion, a P/E ratio of 33.32, a P/E/G ratio of 3.97 and a beta of 2.16.

Hudbay Minerals (TSE:HBM) (NYSE:HBM) last issued its quarterly earnings results 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 for the quarter. On average, equities research 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.