BMO Capital Markets Boosts Hudbay Minerals (TSE:HBM) Price Target to C$39.00

Hudbay Minerals (TSE:HBM) (NYSE:HBM) had its price objective hoisted by stock analysts at BMO Capital Markets from C$33.00 to C$39.00 in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. BMO Capital Markets’ price objective would indicate a potential upside of 15.83% from the stock’s previous close.

Several other research firms also recently issued reports on HBM. National Bank Financial downgraded shares of Hudbay Minerals from an “outperform” rating to a “sector perform” rating and upped their price objective for the stock from C$28.00 to C$40.00 in a report on Thursday, January 29th. Jefferies Financial Group upped their price objective on shares of Hudbay Minerals from C$31.00 to C$37.00 in a report on Monday, January 19th. Scotiabank decreased their price objective on shares of Hudbay Minerals from C$37.00 to C$35.50 and set an “outperform” rating for the company in a report on Monday, February 23rd. Raymond James Financial upped their price objective on shares of Hudbay Minerals from C$34.00 to C$36.00 and gave the stock an “outperform” rating in a report on Monday, January 26th. Finally, Royal Bank Of Canada upped their price objective on shares of Hudbay Minerals from C$28.00 to C$40.00 in a report on Thursday, March 12th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of C$39.17.

Hudbay Minerals Trading Up 3.2%

Shares of HBM stock traded up C$1.05 during trading hours on Wednesday, reaching C$33.67. 1,245,142 shares of the stock traded hands, compared to its average volume of 2,118,078. Hudbay Minerals has a 1-year low of C$9.67 and a 1-year high of C$38.94. The business has a fifty day moving average price of C$31.96 and a 200 day moving average price of C$28.39. The company has a quick ratio of 0.85, a current ratio of 0.95 and a debt-to-equity ratio of 33.86. The firm has a market capitalization of C$13.37 billion, a PE ratio of 23.38, a PEG ratio of 3.97 and a beta of 2.28.

Hudbay Minerals (TSE:HBM) (NYSE:HBM) last released its quarterly earnings results on Friday, February 20th. The mining company reported C$0.30 earnings per share (EPS) for the quarter. Hudbay Minerals had a net margin of 25.80% and a return on equity of 19.30%. The business had revenue of C$1.50 billion for the quarter. On average, equities research analysts forecast that Hudbay Minerals will post 1.1220575 EPS for the current year.

Insider Buying and Selling

In related news, insider Eugene Chi-Yen Lei bought 1,000 shares of the business’s stock in a transaction that occurred on Friday, March 27th. The stock was purchased at an average cost of C$26.85 per share, for a total transaction of C$26,850.00. Following the purchase, the insider directly owned 195,847 shares in the company, valued at C$5,258,491.95. This trade represents a 0.51% increase in their ownership of the stock. 0.07% of the stock is currently owned by insiders.

About Hudbay Minerals

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.