Hudbay Minerals (TSE:HBM) Earns “Outperform” Rating from CIBC

CIBC reiterated their outperform rating on shares of Hudbay Minerals (TSE:HBM) (NYSE:HBM) in a research note released on Wednesday morning, Price Targets.com reports. The firm currently has a C$14.00 price objective on the mining company’s stock, up from their prior price objective of C$13.00.

HBM has been the subject of a number of other reports. Scotiabank increased their target price on shares of Hudbay Minerals from C$12.50 to C$14.00 in a report on Monday, April 12th. Royal Bank of Canada reiterated an outperform rating and set a C$13.00 target price on shares of Hudbay Minerals in a report on Wednesday, April 7th. Cormark increased their target price on shares of Hudbay Minerals from C$12.50 to C$13.00 in a report on Tuesday, February 23rd. TD Securities raised their price objective on shares of Hudbay Minerals from C$11.00 to C$12.50 and gave the stock a buy rating in a report on Friday, February 19th. Finally, Haywood Securities raised their price objective on shares of Hudbay Minerals from C$12.00 to C$14.00 and gave the stock a buy rating in a report on Thursday, April 22nd. One research analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Hudbay Minerals has a consensus rating of Buy and a consensus target price of C$12.91.

TSE HBM opened at C$9.78 on Wednesday. The company has a quick ratio of 1.32, a current ratio of 1.68 and a debt-to-equity ratio of 70.55. The company has a 50-day simple moving average of C$9.52 and a two-hundred day simple moving average of C$8.66. The firm has a market cap of C$2.56 billion and a price-to-earnings ratio of -14.53. Hudbay Minerals has a 12-month low of C$2.85 and a 12-month high of C$11.62.

Hudbay Minerals (TSE:HBM) (NYSE:HBM) last posted its earnings results on Thursday, February 18th. The mining company reported C($0.08) earnings per share for the quarter, topping the Zacks’ consensus estimate of C($0.10) by C$0.02. The firm had revenue of C$420.07 million for the quarter, compared to analysts’ expectations of C$367.89 million. Equities analysts expect that Hudbay Minerals will post 0.75 earnings per share for the current fiscal year.

The firm also recently announced a Semi-Annual dividend, which was paid on Friday, March 26th. Shareholders of record on Tuesday, March 9th were paid a dividend of $0.01 per share. This represents a dividend yield of 0.1%. The ex-dividend date of this dividend was Monday, March 8th. Hudbay Minerals’s dividend payout ratio is -2.18%.

In other Hudbay Minerals news, Senior Officer Cashel Aran Meagher sold 7,215 shares of the firm’s stock in a transaction that occurred on Thursday, February 25th. The shares were sold at an average price of C$9.93, for a total transaction of C$71,644.95. Following the completion of the transaction, the insider now owns 108,896 shares of the company’s stock, valued at C$1,081,337.28.

Hudbay Minerals Company Profile

Hudbay Minerals Inc, a diversified 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; molybdenum concentrates; and zinc metals.

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Analyst Recommendations for Hudbay Minerals (TSE:HBM)

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