Raymond James Increases Hudbay Minerals (TSE:HBM) Price Target to C$11.50

Hudbay Minerals (TSE:HBM) (NYSE:HBM) had its price objective hoisted by research analysts at Raymond James from C$10.50 to C$11.50 in a research report issued on Thursday, BayStreet.CA reports. The brokerage presently has an “outperform” rating on the mining company’s stock. Raymond James’ target price would indicate a potential upside of 7.28% from the stock’s previous close. Raymond James also issued estimates for Hudbay Minerals’ Q1 2024 earnings at $0.10 EPS, Q3 2024 earnings at $0.06 EPS and FY2024 earnings at $0.39 EPS.

HBM has been the subject of a number of other reports. CIBC raised their price target on Hudbay Minerals from C$11.00 to C$13.00 and gave the stock an “outperform” rating in a research note on Wednesday. BMO Capital Markets decreased their target price on Hudbay Minerals from C$9.50 to C$8.50 and set an “outperform” rating for the company in a research report on Friday, December 22nd. Scotiabank lifted their target price on Hudbay Minerals from C$10.50 to C$11.00 and gave the company an “outperform” rating in a research report on Tuesday, February 6th. Stifel Nicolaus set a C$11.25 target price on Hudbay Minerals and gave the company a “buy” rating in a research report on Tuesday, March 26th. Finally, Canaccord Genuity Group lifted their target price on Hudbay Minerals from C$10.50 to C$13.00 and gave the company a “buy” rating in a research report on Wednesday. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$10.48.

Hudbay Minerals Price Performance

Shares of Hudbay Minerals stock opened at C$10.72 on Thursday. The stock has a market cap of C$3.76 billion, a price-to-earnings ratio of 35.73, a price-to-earnings-growth ratio of 3.97 and a beta of 1.96. The company has a debt-to-equity ratio of 62.93, a quick ratio of 0.85 and a current ratio of 1.25. The stock has a 50 day moving average price of C$8.94 and a 200-day moving average price of C$7.46. Hudbay Minerals has a one year low of C$5.46 and a one year high of C$11.05.

Hudbay Minerals (TSE:HBM) (NYSE:HBM) last announced its earnings results on Friday, February 23rd. The mining company reported C$0.27 EPS for the quarter, topping analysts’ consensus estimates of C$0.15 by C$0.12. Hudbay Minerals had a return on equity of 3.68% and a net margin of 3.93%. The firm had revenue of C$819.90 million during the quarter, compared to analysts’ expectations of C$710.46 million. Equities analysts expect that Hudbay Minerals will post 0.681388 EPS for the current year.

Insider Buying and Selling at Hudbay Minerals

In other Hudbay Minerals news, Senior Officer Mark Zachary Gupta sold 4,915 shares of the business’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of C$9.45, for a total transaction of C$46,446.75. In other news, Senior Officer Luis Alfonso Santivanez Silva sold 19,499 shares of the company’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of C$6.01, for a total value of C$117,188.99. Also, Senior Officer Mark Zachary Gupta sold 4,915 shares of the company’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of C$9.45, for a total value of C$46,446.75. Company insiders own 0.07% of the company’s stock.

Hudbay Minerals Company Profile

Hudbay Minerals Inc, a diversified mining company, focuses on the exploration, development, operation, and optimization of properties in North and South America. It produces copper concentrates containing gold, silver, and molybdenum; gold concentrates containing zinc; zinc concentrates; molybdenum concentrates; and silver/gold doré.