HudBay Minerals Upgraded to “Buy” at Canaccord Genuity (HBM)
HudBay Minerals (TSE:HBM) was upgraded by equities researchers at Canaccord Genuity to a “buy” rating in a research report issued on Tuesday, StockRatingsNetwork reports. The firm currently has a C$19.00 price target on the stock, up from their previous price target of C$17.00. Canaccord Genuity’s price target suggests a potential upside of 124.59% from the company’s current price.
Shares of HudBay Minerals (TSE:HBM) traded up 1.30% during mid-day trading on Tuesday, hitting $8.57. The stock had a trading volume of 199,854 shares. HudBay Minerals has a 52-week low of $6.02 and a 52-week high of $12.10. The stock has a 50-day moving average of $7.9 and a 200-day moving average of $7.70. The company’s market cap is $1.475 billion.
A number of other firms have also recently commented on HBM. Analysts at RBC Capital reiterated an “outperform” rating on shares of HudBay Minerals in a research note to investors on Thursday, December 5th. Separately, analysts at UBS AG raised their price target on shares of HudBay Minerals from C$8.00 to C$8.50 in a research note to investors on Tuesday, November 12th. They now have a “neutral” rating on the stock. Finally, analysts at Scotiabank cut their price target on shares of HudBay Minerals from C$9.50 to C$9.00 in a research note to investors on Tuesday, November 12th. Seven research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of C$10.57.
HudBay Minerals Inc (TSE:HBM) is an integrated mining company.
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