Hudbay Minerals (TSE:HBM) (NYSE:HBM) was upgraded by Bank of America from an “underperform” rating to a “buy” rating in a research report issued on Tuesday, PriceTargets.com reports. The brokerage presently has a C$12.20 price target on the mining company’s stock, up from their previous price target of C$10.60. Bank of America‘s price target suggests a potential upside of 22.37% from the stock’s current price.
Other equities research analysts have also recently issued reports about the company. Credit Suisse Group lifted their price objective on Hudbay Minerals to C$12.00 and gave the stock an “outperform” rating in a report on Tuesday, March 30th. Eight Capital boosted their price target on Hudbay Minerals to C$12.50 and gave the stock a “buy” rating in a research report on Friday, January 22nd. Royal Bank of Canada raised Hudbay Minerals from a “sector perform” rating to an “outperform” rating and set a C$13.00 price objective for the company in a research note on Thursday, April 1st. National Bank Financial lifted their target price on shares of Hudbay Minerals from C$11.00 to C$11.50 and gave the stock a “sector perform” rating in a research note on Monday, February 22nd. Finally, Haywood Securities increased their target price on shares of Hudbay Minerals from C$11.00 to C$12.00 and gave the company a “na” rating in a research report on Monday, February 22nd. One analyst has rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of C$12.30.
Hudbay Minerals stock opened at C$9.97 on Tuesday. The stock has a market capitalization of C$2.61 billion and a P/E ratio of -18.03. The company’s fifty day moving average price is C$9.04 and its 200 day moving average price is C$7.93. The company has a debt-to-equity ratio of 70.55, a quick ratio of 1.32 and a current ratio of 1.68. Hudbay Minerals has a 1 year low of C$2.79 and a 1 year high of C$10.58.
In other news, Senior Officer Cashel Aran Meagher sold 7,215 shares of Hudbay Minerals 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 sale, the insider now owns 108,896 shares of the company’s stock, valued at approximately 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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