CIBC Boosts Hudbay Minerals (TSE:HBM) Price Target to C$13.00

Hudbay Minerals (TSE:HBM) (NYSE:HBM) had its price target increased by equities researchers at CIBC from C$11.00 to C$13.00 in a note issued to investors on Wednesday, BayStreet.CA reports. The brokerage currently has an “outperform” rating on the mining company’s stock. CIBC’s target price indicates a potential upside of 24.05% from the stock’s current price.

Several other research firms have also commented on HBM. BMO Capital Markets lowered their price target on shares of Hudbay Minerals from C$9.50 to C$8.50 and set an “outperform” rating on the stock in a report on Friday, December 22nd. Bank of America raised their target price on Hudbay Minerals from C$8.50 to C$12.25 in a report on Tuesday, April 9th. Stifel Nicolaus set a C$11.25 price target on Hudbay Minerals and gave the company a “buy” rating in a report on Tuesday, March 26th. Canaccord Genuity Group raised their price objective on shares of Hudbay Minerals from C$9.25 to C$10.50 in a research note on Monday, April 1st. Finally, National Bankshares lifted their target price on shares of Hudbay Minerals from C$8.50 to C$8.75 and gave the company a “sector perform” rating in a report on Monday, February 26th. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$10.32.

Hudbay Minerals Stock Performance

Shares of Hudbay Minerals stock traded up C$0.03 on Wednesday, reaching C$10.48. 1,421,921 shares of the stock were exchanged, compared to its average volume of 1,205,651. The business has a 50 day moving average price of C$8.72 and a two-hundred day moving average price of C$7.38. The firm has a market capitalization of C$3.68 billion, a price-to-earnings ratio of 34.93, a PEG ratio of 3.97 and a beta of 1.96. Hudbay Minerals has a twelve month low of C$5.46 and a twelve month high of C$11.05. The company has a quick ratio of 0.85, a current ratio of 1.25 and a debt-to-equity ratio of 62.93.

Hudbay Minerals (TSE:HBM) (NYSE:HBM) last announced its quarterly earnings data on Friday, February 23rd. The mining company reported C$0.27 EPS for the quarter, beating the consensus estimate of C$0.15 by C$0.12. The business had revenue of C$819.90 million during the quarter, compared to analysts’ expectations of C$710.46 million. Hudbay Minerals had a net margin of 3.93% and a return on equity of 3.68%. Analysts anticipate that Hudbay Minerals will post 0.681388 earnings per share for the current fiscal year.

Insider Buying and Selling at Hudbay Minerals

In other news, Senior Officer Mark Zachary Gupta sold 4,915 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of C$9.45, for a total transaction of C$46,446.75. In related news, Senior Officer Luis Alfonso Santivanez Silva sold 19,499 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of C$6.01, for a total transaction of C$117,188.99. Also, Senior Officer Mark Zachary Gupta sold 4,915 shares of the stock in a transaction on Friday, March 15th. The shares were sold at an average price of C$9.45, for a total value of C$46,446.75. Insiders own 0.07% of the company’s stock.

Hudbay Minerals Company Profile

Hudbay Minerals Inc, a diversified mining company, focuses on the exploration, development, operation, and optimization of properties in North and South America. It produces copper concentrates containing gold, silver, and molybdenum; gold concentrates containing zinc; zinc concentrates; molybdenum concentrates; and silver/gold doré.