Eight Capital Trims Hudbay Minerals (TSE:HBM) Target Price to C$9.00

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Hudbay Minerals (TSE:HBM) (NYSE:HBM) had its price target lowered by Eight Capital from C$11.00 to C$9.00 in a report issued on Friday, BayStreet.CA reports.

Other equities research analysts have also issued reports about the company. Canaccord Genuity raised their price objective on Hudbay Minerals from C$9.00 to C$10.50 in a research note on Monday, April 15th. National Bank Financial lowered their price objective on Hudbay Minerals from C$10.00 to C$9.00 and set a sector perform rating for the company in a research note on Friday, June 28th. Haywood Securities lowered their price objective on Hudbay Minerals from C$11.00 to C$9.00 in a research note on Tuesday, July 23rd. Cormark lowered their price objective on Hudbay Minerals from C$11.50 to C$9.00 in a research note on Tuesday, July 23rd. Finally, TD Securities lowered their price objective on Hudbay Minerals from C$10.50 to C$7.50 and set a buy rating for the company in a research note on Friday. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Hudbay Minerals presently 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 company has a market capitalization of $1.27 billion and a price-to-earnings ratio of 41.54. Hudbay Minerals has a 12 month low of C$4.51 and a 12 month high of C$10.42. The company’s 50 day moving average price is C$6.65. The company has a debt-to-equity ratio of 49.18, a quick ratio of 2.09 and a current ratio of 2.64.

Hudbay Minerals (TSE:HBM) (NYSE:HBM) last posted its quarterly earnings data on Monday, May 6th. The mining company reported C$0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.01 by C$0.03. The company had revenue of C$388.58 million during the quarter, compared to the consensus estimate of C$423.44 million. On average, sell-side analysts predict that Hudbay Minerals will post 0.2 earnings per share for the current year.

In related news, insider Waterton Global Resource Management, Inc. acquired 500,000 shares of the stock in a transaction dated Wednesday, July 10th. The stock was acquired at an average cost of C$6.57 per share, with a total value of C$3,284,358.00. Following the purchase, the insider now directly owns 17,324,844 shares of the company’s stock, valued at C$113,801,979.98.

Hudbay Minerals Company Profile

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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Analyst Recommendations for Hudbay Minerals (TSE:HBM)

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