Credit Suisse Group Increases HudBay Minerals Inc (HBM) Price Target to $12.00
HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) had its target price lifted by Credit Suisse Group from $11.00 to $12.00 in a report released on Monday. The brokerage currently has a “neutral” rating on the mining company’s stock. Credit Suisse Group’s price objective would suggest a potential upside of 52.87% from the stock’s current price.
Several other research analysts have also recently issued reports on the stock. BidaskClub cut shares of HudBay Minerals from a “sell” rating to a “strong sell” rating in a report on Tuesday, June 20th. Zacks Investment Research lowered shares of HudBay Minerals from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 18th. ValuEngine lowered shares of HudBay Minerals from a “buy” rating to a “hold” rating in a research report on Tuesday, June 6th. Raymond James Financial, Inc. restated an “outperform” rating on shares of HudBay Minerals in a research report on Tuesday, August 15th. Finally, J P Morgan Chase & Co upgraded shares of HudBay Minerals from a “neutral” rating to an “overweight” rating in a research report on Tuesday, September 5th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the stock. HudBay Minerals presently has an average rating of “Hold” and an average price target of $8.39.
HudBay Minerals (NYSE HBM) traded down 1.26% during midday trading on Monday, hitting $7.85. The stock had a trading volume of 436,074 shares. The stock has a 50 day moving average of $8.03 and a 200 day moving average of $6.62. HudBay Minerals has a 12 month low of $3.57 and a 12 month high of $9.35. The stock has a market cap of $1.86 billion, a price-to-earnings ratio of 196.25 and a beta of 3.28.
Hedge funds have recently added to or reduced their stakes in the company. Trexquant Investment LP acquired a new stake in shares of HudBay Minerals in the fourth quarter valued at approximately $101,000. Quantbot Technologies LP acquired a new stake in HudBay Minerals during the first quarter worth approximately $118,000. Brave Asset Management Inc. acquired a new stake in HudBay Minerals during the second quarter worth approximately $121,000. Massachusetts Financial Services Co. MA acquired a new stake in HudBay Minerals during the first quarter worth approximately $127,000. Finally, ARP Americas LLC acquired a new stake in HudBay Minerals during the first quarter worth approximately $140,000. Institutional investors and hedge funds own 64.87% of the company’s stock.
About HudBay Minerals
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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