CIBC Boosts Hudbay Minerals Inc (HBM) Price Target to C$14.00
Hudbay Minerals Inc (TSE:HBM) (NYSE:HBM) had its price target boosted by stock analysts at CIBC from C$13.00 to C$14.00 in a research note issued on Friday. CIBC’s target price would suggest a potential upside of 43.15% from the stock’s current price.
Several other analysts have also recently weighed in on the stock. Barclays PLC upped their price objective on shares of Hudbay Minerals from C$10.00 to C$11.00 in a research note on Wednesday, August 9th. TD Securities decreased their price target on shares of Hudbay Minerals from C$13.50 to C$13.00 and set an “action list buy” rating on the stock in a research note on Friday, August 4th. Eight Capital restated a “buy” rating on shares of Hudbay Minerals in a report on Thursday, August 17th. Scotiabank reiterated a “focus stock” rating and issued a C$12.50 target price on shares of Hudbay Minerals in a report on Thursday. Finally, BMO Capital Markets increased their target price on shares of Hudbay Minerals from C$10.50 to C$10.75 and gave the stock a “market perform” rating in a report on Monday, October 2nd. Four equities research analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of C$12.09.
Shares of Hudbay Minerals (TSE HBM) traded down C$0.16 during mid-day trading on Friday, reaching C$9.84. The company had a trading volume of 861,526 shares.
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In related news, insider Gmt Capital Corp bought 11,800 shares of the stock in a transaction that occurred on Monday, August 14th. The shares were acquired at an average cost of C$7.29 per share, with a total value of C$86,022.00. Insiders purchased 57,300 shares of company stock worth $428,831 over the last ninety days.
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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