Hudbay Minerals (TSE:HBM) Price Target Cut to C$8.00 by Analysts at Royal Bank of Canada

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Hudbay Minerals (TSE:HBM) (NYSE:HBM) had its price target decreased by Royal Bank of Canada from C$9.00 to C$8.00 in a report released on Friday, BayStreet.CA reports.

Other equities analysts have also recently issued reports about the company. TD Securities decreased their price objective 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 decreased their price objective on Hudbay Minerals from C$11.50 to C$9.00 in a report on Tuesday, July 23rd. Eight Capital cut Hudbay Minerals from a buy rating to a neutral rating and decreased their price objective for the company from C$12.00 to C$11.00 in a report on Tuesday, May 7th. Haywood Securities decreased their price objective on Hudbay Minerals from C$11.00 to C$9.00 in a report on Tuesday, July 23rd. Finally, Raymond James set a C$10.50 price objective on Hudbay Minerals and gave the company a market perform rating in a report on Wednesday, May 8th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average target price of C$9.14.

Shares of TSE HBM opened at C$4.86 on Friday. The stock has a market cap of $1.27 billion and a PE ratio of 41.54. The company has a current ratio of 2.64, a quick ratio of 2.09 and a debt-to-equity ratio of 49.18. Hudbay Minerals has a 1-year low of C$4.51 and a 1-year high of C$10.42. The firm’s 50-day moving average price is C$6.65.

Hudbay Minerals (TSE:HBM) (NYSE:HBM) last announced its quarterly earnings data on Monday, May 6th. The mining company reported C$0.04 earnings per share for the quarter, beating the Zacks’ consensus estimate of C$0.01 by C$0.03. The firm had revenue of C$388.58 million for the quarter, compared to analysts’ expectations of C$423.44 million. As a group, sell-side analysts anticipate that Hudbay Minerals will post 0.2 earnings per share for the current fiscal year.

In related news, insider Waterton Global Resource Management, Inc. purchased 500,000 shares of the firm’s stock in a transaction on Wednesday, July 10th. The shares were 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.

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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Analyst Recommendations for Hudbay Minerals (TSE:HBM)

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