Hudbay Minerals (TSE:HBM) (NYSE:HBM) had its price objective cut by BMO Capital Markets from C$10.50 to C$10.00 in a research note issued to investors on Friday morning, BayStreet.CA reports.
Several other brokerages have also recently weighed in on HBM. TD Securities lowered their target price on Hudbay Minerals from C$10.50 to C$7.50 and set a buy rating on the stock in a report on Friday. Cormark lowered their target price on Hudbay Minerals from C$11.50 to C$9.00 in a report on Tuesday, July 23rd. Royal Bank of Canada lowered their target price on Hudbay Minerals from C$9.00 to C$8.00 in a report on Friday. Canaccord Genuity upped their price objective on Hudbay Minerals from C$9.00 to C$10.50 in a report on Monday, April 15th. Finally, Eight Capital decreased their price objective on Hudbay Minerals from C$11.00 to C$9.00 in a report on Friday. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus price target of C$9.14.
Shares of Hudbay Minerals stock opened at C$4.86 on Friday. The firm has a market cap of $1.27 billion and a PE ratio of 41.54. The business’s 50 day moving average is C$6.65. Hudbay Minerals has a 1-year low of C$4.51 and a 1-year high of C$10.42. The company has a current ratio of 2.64, a quick ratio of 2.09 and a debt-to-equity ratio of 49.18.
In other Hudbay Minerals news, insider Waterton Global Resource Management, Inc. acquired 500,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 10th. The shares were purchased at an average cost of C$6.57 per share, for a total transaction of C$3,284,358.00. Following the completion of the acquisition, the insider now owns 17,324,844 shares of the company’s stock, valued at approximately C$113,801,979.98.
About Hudbay Minerals
Hudbay Minerals Inc, an integrated mining company, together with its subsidiaries, focuses on the discovery, production, and marketing of base and precious metals in North and South America. It produces copper concentrates containing copper, gold, and silver; and zinc metal. The company owns three polymetallic mines, four ore concentrators, and a zinc production facility in northern Manitoba and Saskatchewan, Canada, as well as in Cusco, Peru; and copper projects in Arizona and Nevada, the United States.
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