TD Securities Trims Hudbay Minerals (TSE:HBM) Target Price to C$7.50

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Hudbay Minerals (TSE:HBM) (NYSE:HBM) had its price objective trimmed by TD Securities from C$10.50 to C$7.50 in a report released on Friday, BayStreet.CA reports. The brokerage currently has a buy rating on the mining company’s stock.

Several other brokerages also recently commented on HBM. BMO Capital Markets lowered their target price on Hudbay Minerals from C$10.75 to C$10.00 in a research note on Thursday, June 27th. National Bank Financial lowered their target price 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. Cormark lowered their target price on Hudbay Minerals from C$11.50 to C$9.00 in a research note on Tuesday, July 23rd. Raymond James set a C$10.50 target price on Hudbay Minerals and gave the stock a market perform rating in a research note on Wednesday, May 8th. Finally, Haywood Securities lowered their target price on Hudbay Minerals from C$11.00 to C$9.00 in a research note on Tuesday, July 23rd. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Hudbay Minerals has an average rating of Hold and an average target price of C$9.14.

Shares of TSE HBM opened at C$4.86 on Friday. The company has a debt-to-equity ratio of 49.18, a quick ratio of 2.09 and a current ratio of 2.64. The firm has a market capitalization of $1.27 billion and a P/E 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 business’s 50-day simple moving average is C$6.65.

Hudbay Minerals (TSE:HBM) (NYSE:HBM) last issued its earnings results on Monday, May 6th. The mining company reported C$0.04 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of C$0.01 by C$0.03. The business had revenue of C$388.58 million for the quarter, compared to analyst estimates of C$423.44 million. As a group, equities research analysts forecast that Hudbay Minerals will post 0.2 EPS for the current year.

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