Hudbay Minerals (TSE:HBM – Get Rating) (NYSE:HBM) had its price target increased by Bank of America from C$8.00 to C$8.25 in a report released on Wednesday, BayStreet.CA reports. Bank of America‘s price objective would suggest a potential upside of 7.84% from the company’s current price.
Other equities analysts have also issued reports about the stock. Barclays lowered shares of Hudbay Minerals from an “overweight” rating to an “equal weight” rating in a report on Monday, October 17th. Raymond James boosted their price objective on shares of Hudbay Minerals from C$7.50 to C$9.00 in a report on Wednesday, November 23rd. TD Securities decreased their price objective on shares of Hudbay Minerals from C$9.00 to C$8.00 and set a “buy” rating for the company in a report on Thursday, November 3rd. Credit Suisse Group boosted their price objective on shares of Hudbay Minerals to C$8.50 in a report on Tuesday, November 22nd. Finally, Scotiabank restated a “sector outperform” rating on shares of Hudbay Minerals in a report on Monday, October 24th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of C$8.78.
Hudbay Minerals Stock Down 2.2 %
Shares of HBM stock traded down C$0.17 during trading hours on Wednesday, hitting C$7.65. 565,661 shares of the company’s stock traded hands, compared to its average volume of 1,481,333. The stock’s fifty day simple moving average is C$7.40 and its two-hundred day simple moving average is C$6.15. Hudbay Minerals has a 12-month low of C$4.07 and a 12-month high of C$11.17. The stock has a market cap of C$2.00 billion and a price-to-earnings ratio of 19.62. The company has a quick ratio of 0.85, a current ratio of 1.24 and a debt-to-equity ratio of 79.51.
Insiders Place Their Bets
In other news, insider Waterton Global Resource Management, Inc. sold 3,000,000 shares of the business’s stock in a transaction on Thursday, December 8th. The shares were sold at an average price of C$7.25, for a total transaction of C$21,750,480.00. Following the completion of the sale, the insider now owns 18,927,643 shares of the company’s stock, valued at approximately C$137,228,440.17.
About Hudbay Minerals
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; silver/gold doré; molybdenum concentrates; and zinc metals.
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