Hudbay Minerals (TSE:HBM) Price Target Cut to C$7.50 by Analysts at TD Securities

Hudbay Minerals (TSE:HBM) (NYSE:HBM) had its price target lowered by stock analysts at TD Securities from C$10.50 to C$7.50 in a note issued to investors on Friday, BayStreet.CA reports. The firm presently has a “buy” rating on the mining company’s stock. TD Securities’ target price would indicate a potential upside of 54.32% from the company’s current price.

Several other brokerages have also recently commented on HBM. Royal Bank of Canada reiterated a “sector perform” rating and issued a C$9.00 target price (down from C$10.00) on shares of Hudbay Minerals in a report on Tuesday, May 7th. Eight Capital cut Hudbay Minerals from a “buy” rating to a “neutral” rating and reduced their target price for the company from C$12.00 to C$11.00 in a report on Tuesday, May 7th. Cormark reduced their target price on Hudbay Minerals from C$11.50 to C$9.00 in a report on Tuesday, July 23rd. Canaccord Genuity upped their target price on Hudbay Minerals from C$9.00 to C$10.50 in a report on Monday, April 15th. Finally, National Bank Financial reduced their target price on Hudbay Minerals from C$10.00 to C$9.00 and set a “sector perform” rating on the stock in a report on Friday, June 28th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company. Hudbay Minerals currently has a consensus rating of “Hold” and an average target price of C$9.14.

Shares of Hudbay Minerals stock traded down C$0.18 on Friday, hitting C$4.86. The stock had a trading volume of 1,316,269 shares, compared to its average volume of 1,264,102. The company has a 50 day moving average of C$6.82. Hudbay Minerals has a twelve month low of C$4.51 and a twelve month high of C$10.42. The company has a quick ratio of 2.09, a current ratio of 2.64 and a debt-to-equity ratio of 49.18. The stock has a market capitalization of $1.69 billion and a price-to-earnings ratio of 41.62.

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

In other Hudbay Minerals news, insider Waterton Global Resource Management, Inc. purchased 500,000 shares of the business’s stock in a transaction 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 acquisition, the insider now 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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