Hudbay Minerals (HBM) Sets New 1-Year Low at $8.78

Shares of Hudbay Minerals Inc (TSE:HBM) (NYSE:HBM) hit a new 52-week low on Tuesday . The stock traded as low as C$8.78 and last traded at C$8.83, with a volume of 1028569 shares trading hands. The stock had previously closed at C$9.01.

Several brokerages recently weighed in on HBM. Scotiabank reissued a “focus stock” rating and issued a C$13.00 price objective on shares of Hudbay Minerals in a report on Thursday, May 3rd. CSFB lowered their price objective on Hudbay Minerals from C$12.00 to C$11.50 in a report on Thursday, February 8th. Raymond James lowered their price objective on Hudbay Minerals from C$13.50 to C$13.00 and set an “outperform” rating for the company in a report on Friday, February 23rd. Paradigm Capital raised Hudbay Minerals from a “hold” rating to a “buy” rating and boosted their price objective for the company from C$13.00 to C$14.00 in a report on Friday, February 23rd. Finally, Canaccord Genuity raised Hudbay Minerals from a “hold” rating to a “buy” rating in a report on Monday, April 2nd. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Hudbay Minerals presently has an average rating of “Buy” and an average target price of C$12.57.

Hudbay Minerals (TSE:HBM) (NYSE:HBM) last issued its earnings results on Wednesday, February 21st. The mining company reported C$0.33 EPS for the quarter, missing the Zacks’ 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 company had revenue of C$526.00 million during the quarter, compared to analyst estimates of C$513.30 million.

In other Hudbay Minerals news, insider Gmt Capital Corp sold 5,300 shares of Hudbay Minerals stock in a transaction that occurred on Monday, March 26th. The stock was sold at an average price of C$7.14, for a total value of C$37,842.00. Over the last 90 days, insiders sold 61,300 shares of company stock valued at $467,871.

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 four polymetallic mines, four ore concentrators, and a zinc production facility in northern Manitoba and Saskatchewan, Canada, as well as in Cusco, Peru; and a copper project in Arizona, the United States.

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