Scotiabank Cuts Hudbay Minerals (TSE:HBM) Price Target to C$43.00

Hudbay Minerals (TSE:HBM) (NYSE:HBM) had its price objective reduced by research analysts at Scotiabank from C$44.00 to C$43.00 in a research note issued to investors on Thursday,BayStreet.CA reports. The firm presently has a “sector outperform” rating on the mining company’s stock. Scotiabank’s target price suggests a potential upside of 35.22% from the stock’s previous close.

A number of other analysts have also recently issued reports on HBM. Barclays lifted their price objective on Hudbay Minerals from C$41.00 to C$45.00 in a research report on Thursday, July 16th. Canaccord Genuity Group lowered their price objective 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. Jefferies Financial Group lowered their price target on Hudbay Minerals from C$57.00 to C$50.00 in a research note on Monday, July 6th. BMO Capital Markets reduced their price objective on shares of Hudbay Minerals from C$46.00 to C$44.00 and set an “outperform” rating for the company in a report on Thursday. Finally, ATB Cormark Capital Markets cut their target price on Hudbay Minerals from C$35.50 to C$35.00 and set an “outperform” rating for the company in a research report on Thursday. Two research 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 company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of C$40.91.

Hudbay Minerals Price Performance

TSE:HBM traded up C$0.90 during mid-day trading on Thursday, reaching C$31.80. 1,574,448 shares of the stock were exchanged, compared to its average volume of 2,185,031. The company has a current ratio of 1.36, a quick ratio of 0.85 and a debt-to-equity ratio of 30.14. The business has a fifty day moving average price of C$34.80 and a 200 day moving average price of C$33.43. Hudbay Minerals has a 1-year low of C$12.44 and a 1-year high of C$44.48. The firm has a market capitalization of C$14.12 billion, a PE ratio of 19.04, a PEG ratio of 3.97 and a beta of 2.36.

Hudbay Minerals (TSE:HBM) (NYSE:HBM) last released its quarterly earnings results on Wednesday, July 29th. The mining company reported C$0.40 earnings per share for the quarter. Hudbay Minerals had a return on equity of 20.70% and a net margin of 27.86%.The business had revenue of C$896.94 million during the quarter. Research analysts expect that Hudbay Minerals will post 1.1220575 earnings per share for the current fiscal 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.