Hudbay Minerals (TSE:HBM) Sets New 1-Year High Following Analyst Upgrade

Hudbay Minerals Inc. (TSE:HBM) (NYSE:HBM)’s stock price hit a new 52-week high during trading on Monday after Desjardins raised their price target on the stock from C$30.00 to C$36.00. Desjardins currently has a buy rating on the stock. Hudbay Minerals traded as high as C$36.25 and last traded at C$35.89, with a volume of 1181498 shares trading hands. The stock had previously closed at C$34.24.

Several other equities research analysts also recently weighed in on the company. National Bankshares raised their price objective on Hudbay Minerals from C$22.00 to C$25.00 in a report on Wednesday, October 8th. UBS Group set a C$34.50 price target on Hudbay Minerals and gave the company a “buy” rating in a research note on Friday, January 9th. Raymond James Financial upped their price objective on Hudbay Minerals from C$34.00 to C$36.00 and gave the company an “outperform” rating in a research note on Monday. Royal Bank Of Canada raised their price objective on shares of Hudbay Minerals from C$26.00 to C$28.00 in a report on Wednesday, December 10th. Finally, TD Securities boosted their target price on shares of Hudbay Minerals from C$17.00 to C$43.00 and gave the stock a “buy” rating in a report on Thursday. Three investment analysts have rated the stock with a Strong Buy rating and ten have issued a Buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of C$29.71.

Hudbay Minerals Trading Up 1.9%

The company has a quick ratio of 0.85, a current ratio of 1.86 and a debt-to-equity ratio of 46.39. The company has a market capitalization of C$13.82 billion, a P/E ratio of 30.08, a P/E/G ratio of 3.97 and a beta of 2.05. The firm’s 50-day moving average price is C$26.79 and its 200 day moving average price is C$21.28.

Hudbay Minerals (TSE:HBM) (NYSE:HBM) last posted its earnings results on Wednesday, November 12th. The mining company reported C$0.03 EPS for the quarter. The firm had revenue of C$0.35 million for the quarter. Hudbay Minerals had a net margin of 4.23% and a return on equity of 3.74%. As a group, equities research analysts predict that Hudbay Minerals Inc. will post 1.1220575 earnings per share for the current year.

About Hudbay Minerals

Hudbay Minerals Inc is a Canadian mining company with its operations, property developments, and exploration activities across the United States. The major mines that Hudbay operates are located in Manitoba, Canada, Arizona, United States; and Peru. The company is principally focused on the discovery, production, and marketing of base and precious metals. Hudbay produces copper concentrate, which contains copper, gold, and silver, as well as zinc metal. More than half the company’s revenue is attributable to the copper business.