Hudbay Minerals (TSE:HBM) Price Target Cut to C$8.75 by Analysts at CSFB

Hudbay Minerals (TSE:HBM) (NYSE:HBM) had its price target decreased by equities research analysts at CSFB from C$11.50 to C$8.75 in a research report issued on Tuesday, BayStreet.CA reports. CSFB’s target price would suggest a potential upside of 86.97% from the company’s current price.

A number of other equities research analysts also recently weighed in on the stock. TD Securities cut their price target on shares of Hudbay Minerals from C$10.50 to C$7.50 and set a “buy” rating for the company in a report on Friday. Raymond James reduced their price target on shares of Hudbay Minerals from C$10.00 to C$8.00 and set a “market perform” rating for the company in a research report on Friday. Canaccord Genuity increased their price target on shares of Hudbay Minerals from C$9.00 to C$10.50 in a research report on Monday, April 15th. Cormark reduced their price objective on Hudbay Minerals from C$11.50 to C$9.00 in a research report on Tuesday, July 23rd. Finally, BMO Capital Markets reduced their price objective on Hudbay Minerals from C$10.50 to C$10.00 in a research report on Friday. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Hudbay Minerals has an average rating of “Hold” and a consensus price target of C$8.61.

TSE HBM traded down C$0.18 on Tuesday, reaching C$4.68. The company’s stock had a trading volume of 900,936 shares, compared to its average volume of 1,263,637. Hudbay Minerals has a twelve month low of C$4.51 and a twelve month high of C$10.42. The company has a current ratio of 2.64, a quick ratio of 2.09 and a debt-to-equity ratio of 49.18. The company has a market capitalization of $1.27 billion and a PE ratio of 40.00. The business has a 50 day moving average price of C$6.65.

Hudbay Minerals (TSE:HBM) (NYSE:HBM) last issued its quarterly earnings results 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 business had revenue of C$388.58 million during the quarter, compared to analyst estimates of C$423.44 million. As a group, sell-side analysts anticipate that Hudbay Minerals will post 0.2 EPS for the current fiscal year.

In other news, insider Waterton Global Resource Management, Inc. bought 500,000 shares of Hudbay Minerals stock in a transaction that occurred on Wednesday, July 10th. The stock was purchased at an average cost of C$6.57 per share, with a total value of C$3,284,358.00. Following the completion of the transaction, the insider now directly owns 17,324,844 shares in the company, 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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