Shares of Hudbay Minerals Inc (TSE:HBM) (NYSE:HBM) were up 8.3% during trading on Thursday . The company traded as high as C$5.96 and last traded at C$5.60. Approximately 658,098 shares traded hands during trading, a decline of 62% from the average daily volume of 1,746,735 shares. The stock had previously closed at C$5.17.
Several analysts have issued reports on HBM shares. National Bank Financial cut their price target on Hudbay Minerals from C$9.50 to C$9.00 and set a “sector perform” rating for the company in a report on Thursday, August 2nd. CSFB cut their price target on Hudbay Minerals from C$13.00 to C$10.50 and set a “c$6.86” rating for the company in a report on Thursday, July 19th. Raymond James set a C$9.00 price target on Hudbay Minerals in a report on Friday, October 5th. CIBC cut their price target on Hudbay Minerals from C$14.00 to C$12.00 in a report on Friday, August 3rd. Finally, Eight Capital cut their price target on Hudbay Minerals from C$13.00 to C$10.00 and set a “c$6.79” rating for the company in a report on Monday, July 23rd. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of C$10.90.
Hudbay Minerals (TSE:HBM) (NYSE:HBM) last released its quarterly earnings results on Tuesday, July 31st. The mining company reported C$0.12 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of C$0.17 by C($0.05). Hudbay Minerals had a net margin of 24.07% and a return on equity of 19.07%. The company had revenue of C$479.19 million for the quarter, compared to the consensus estimate of C$497.94 million.
Hudbay Minerals Company Profile (TSE:HBM)
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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