Raymond James Lowers Hudbay Minerals (TSE:HBM) Price Target to C$8.00

Hudbay Minerals (TSE:HBM) (NYSE:HBM) had its price target trimmed by Raymond James from C$10.00 to C$8.00 in a research note issued to investors on Friday, BayStreet.CA reports. The brokerage currently has a market perform rating on the mining company’s stock. Raymond James also issued estimates for Hudbay Minerals’ Q4 2020 earnings at $0.16 EPS and FY2020 earnings at $0.66 EPS.

HBM has been the topic of a number of other reports. Eight Capital cut their target price on Hudbay Minerals from C$11.00 to C$9.00 in a research report on Friday. CIBC cut their target price on Hudbay Minerals from C$10.50 to C$9.00 in a research report on Thursday, May 9th. BMO Capital Markets cut their target price on Hudbay Minerals from C$10.50 to C$10.00 in a research report on Friday. CSFB cut their target price on Hudbay Minerals from C$12.50 to C$11.50 in a research report on Tuesday, May 7th. Finally, TD Securities cut their target price on Hudbay Minerals from C$10.50 to C$7.50 and set a buy rating on the stock in a research report on Friday. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock has an average rating of Hold and a consensus price target of C$9.14.

Shares of HBM traded down C$0.18 during trading on Friday, reaching C$4.86. The company’s stock had a trading volume of 1,655,100 shares, compared to its average volume of 1,266,661. The business’s fifty day moving average price is C$6.78. Hudbay Minerals has a twelve month low of C$4.51 and a twelve month high of C$10.42. The company has a market cap of $1.27 billion and a P/E ratio of 41.54. 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 announced its earnings results on Monday, May 6th. The mining company reported C$0.04 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of C$0.01 by C$0.03. The business had revenue of C$388.58 million during the quarter, compared to analyst estimates of C$423.44 million. On average, analysts anticipate that Hudbay Minerals will post 0.2 earnings per share for the current fiscal year.

In other news, insider Waterton Global Resource Management, Inc. purchased 500,000 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now owns 17,324,844 shares in the company, 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.

See Also: Are analyst ratings accurate?

Analyst Recommendations for Hudbay Minerals (TSE:HBM)

Receive News & Ratings for Hudbay Minerals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hudbay Minerals and related companies with MarketBeat.com's FREE daily email newsletter.