Hudbay Minerals (HBM) Cut to “Buy” at TD Securities

TD Securities cut shares of Hudbay Minerals (TSE:HBM) (NYSE:HBM) from an action list buy rating to a buy rating in a research note issued to investors on Tuesday. TD Securities currently has C$14.50 price target on the mining company’s stock, down from their previous price target of C$15.00.

Several other equities analysts have also commented on the stock. Paradigm Capital raised shares of Hudbay Minerals from a hold rating to a buy rating and increased their target price for the company from C$13.00 to C$14.00 in a report on Friday, February 23rd. Royal Bank of Canada reduced their target price on shares of Hudbay Minerals from C$14.00 to C$13.00 and set an outperform rating on the stock in a report on Wednesday, February 28th. National Bank Financial lowered shares of Hudbay Minerals from an outperform rating to a sector perform rating and set a C$13.00 target price on the stock. in a report on Thursday, January 18th. CIBC increased their target price on shares of Hudbay Minerals from C$14.00 to C$16.00 in a report on Monday, January 22nd. Finally, Raymond James reduced their target price on shares of Hudbay Minerals from C$13.50 to C$13.00 and set an outperform rating on the stock in a report on Friday, February 23rd. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of Buy and an average target price of C$12.95.

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HBM stock opened at C$9.39 on Tuesday. Hudbay Minerals has a 52 week low of C$6.13 and a 52 week high of C$12.65.

Hudbay Minerals (TSE:HBM) (NYSE:HBM) last released its earnings results on Wednesday, February 21st. The mining company reported C$0.33 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of C$0.34 by C($0.01). Hudbay Minerals had a net margin of 24.07% and a return on equity of 19.07%. The business had revenue of C$526.00 million for the quarter, compared to the consensus estimate of C$513.30 million.

The company also recently declared a Semi-Annual dividend, which was paid on Thursday, March 29th. Shareholders of record on Friday, March 9th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Thursday, March 8th. This represents a yield of 0.1%.

In other Hudbay Minerals news, insider Gmt Capital Corp sold 7,300 shares of the stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of C$9.45, for a total transaction of C$68,985.00. Insiders have sold a total of 105,500 shares of company stock valued at $875,109 in the last three months.

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Hudbay Minerals Company Profile

Hudbay Minerals Inc is a Canada-based mining company. The Company is engaged in the production of copper concentrate, consisting of copper, gold and silver, as well as zinc metal. The Company is focused on the discovery, production and marketing of base and precious metals. The Company has assets in North and South America.

Analyst Recommendations for Hudbay Minerals (TSE:HBM)

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