Hudbay Minerals Inc (TSE:HBM) Given New C$11.50 Price Target at National Bank Financial
Hudbay Minerals Inc (TSE:HBM) (NYSE:HBM) had its price target upped by research analysts at National Bank Financial from C$11.00 to C$11.50 in a report released on Tuesday. The brokerage currently has an “outperform” rating on the mining company’s stock. National Bank Financial’s target price indicates a potential upside of 22.60% from the stock’s previous close.
Several other brokerages have also recently issued reports on HBM. TD Securities dropped their price objective on shares of Hudbay Minerals from C$13.50 to C$13.00 and set an “action list buy” rating for the company in a research note on Friday. Royal Bank Of Canada dropped their price objective on shares of Hudbay Minerals from C$13.00 to C$12.00 and set an “outperform” rating for the company in a research note on Monday, May 8th. Barclays PLC dropped their price objective on shares of Hudbay Minerals from C$11.00 to C$10.00 in a research note on Friday, May 19th. Scotiabank reaffirmed a “focus stock” rating and set a C$11.00 price objective on shares of Hudbay Minerals in a research note on Friday. Finally, ValuEngine raised shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a research note on Thursday, May 11th. Three equities research analysts have rated the stock with a hold rating, four have given a buy rating and two have issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of C$10.61.
Shares of Hudbay Minerals (TSE:HBM) traded up 3.145% on Tuesday, hitting $9.675. The stock had a trading volume of 2,805,011 shares. The firm’s 50-day moving average price is $7.88 and its 200 day moving average price is $8.70. Hudbay Minerals has a 12 month low of $4.74 and a 12 month high of $11.95. The firm’s market cap is $2.30 billion.
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In other news, insider Gmt Capital Corp bought 7,200 shares of the firm’s stock in a transaction on Monday, June 12th. The shares were bought at an average cost of C$5.72 per share, for a total transaction of C$41,184.00. Insiders acquired a total of 80,400 shares of company stock worth $447,046 over the last quarter.
Hudbay Minerals Company Profile
Hudbay Minerals Inc is a Canada-based mining company. The Company is engaged in the production of copper concentrate, consisting of copper, gold and silver, as well as zinc metal. The Company is focused on the discovery, production and marketing of base and precious metals. The Company has assets in North and South America.
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