Canaccord Genuity Group Issues Pessimistic Forecast for Hudbay Minerals (TSE:HBM) Stock Price

Hudbay Minerals (TSE:HBM – Get Free Report) (NYSE:HBM) had its target price dropped by research analysts at Canaccord Genuity Group from C$40.00 to C$39.50 in a research report issued on Thursday,BayStreet.CA reports. The firm presently has a “buy” rating on the mining company’s stock. Canaccord Genuity Group’s price target points to a potential upside of 24.21% from the company’s current price.

A number of other research analysts have also issued reports on HBM. Barclays raised their price objective on shares of Hudbay Minerals from C$41.00 to C$45.00 in a report on Thursday, July 16th. Jefferies Financial Group reduced their target price on shares of Hudbay Minerals from C$57.00 to C$50.00 in a report on Monday, July 6th. Canadian Imperial Bank of Commerce upped their price target on shares of Hudbay Minerals from C$42.00 to C$46.00 in a research report on Tuesday, April 21st. Stifel Nicolaus raised their price target on shares of Hudbay Minerals from C$41.00 to C$43.00 and gave the company a “buy” rating in a research note on Tuesday, July 21st. Finally, National Bank Financial cut their price target on shares of Hudbay Minerals from C$40.00 to C$38.50 and set a “sector perform” rating on the stock in a report on Tuesday, July 14th. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of C$40.91.

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Hudbay Minerals Price Performance

HBM stock traded up C$0.90 during midday trading on Thursday, reaching C$31.80. 1,574,448 shares of the stock were exchanged, compared to its average volume of 2,185,031. Hudbay Minerals has a 52 week low of C$12.44 and a 52 week high of C$44.48. The company has a fifty day moving average price of C$34.80 and a 200 day moving average price of C$33.43. The company has a debt-to-equity ratio of 30.14, a current ratio of 1.36 and a quick ratio of 0.85. The stock has a market capitalization of C$14.12 billion, a PE ratio of 19.04, a P/E/G ratio of 3.97 and a beta of 2.36.

Hudbay Minerals (TSE:HBM – Get Free Report) (NYSE:HBM) last posted its earnings results on Wednesday, July 29th. The mining company reported C$0.40 EPS for the quarter. Hudbay Minerals had a return on equity of 20.70% and a net margin of 27.86%.The firm had revenue of C$896.94 million during the quarter. As a group, analysts expect that Hudbay Minerals will post 1.1220575 EPS for the current fiscal year.

About Hudbay Minerals

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Hudbay (TSX, NYSE: HBM) is a copper-focused critical minerals mining company with three long-life operations and a world-class pipeline of copper growth projects in tier-one mining jurisdictions of Canada, Peru and the United States. Hudbay’s operating portfolio includes the Constancia mine in Cusco (Peru), the Snow Lake operations in Manitoba (Canada) and the Copper Mountain mine in British Columbia (Canada). Copper is the primary metal produced by the Company, which is complemented by meaningful gold production and by-product zinc, silver and molybdenum.

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