Hudbay Minerals (TSE:HBM) Sets New 12-Month High on Analyst Upgrade

Shares of Hudbay Minerals Inc. (TSE:HBM) (NYSE:HBM) reached a new 52-week high during mid-day trading on Monday after Desjardins raised their price target on the stock from C$30.00 to C$36.00. Desjardins currently has a buy rating on the stock. Hudbay Minerals traded as high as C$36.25 and last traded at C$35.89, with a volume of 1181498 shares traded. The stock had previously closed at C$34.24.

A number of other brokerages also recently issued reports on HBM. National Bankshares increased their price target on Hudbay Minerals from C$22.00 to C$25.00 in a research report on Wednesday, October 8th. Royal Bank Of Canada upped their target price on Hudbay Minerals from C$26.00 to C$28.00 in a research note on Wednesday, December 10th. BMO Capital Markets increased their target price on Hudbay Minerals from C$23.00 to C$24.00 in a research report on Tuesday, November 18th. Bank of America boosted their price target on shares of Hudbay Minerals from C$22.50 to C$26.75 in a report on Thursday, October 16th. Finally, TD Securities upped their price objective on shares of Hudbay Minerals from C$17.00 to C$43.00 and gave the stock a “buy” rating in a research report on Thursday, January 22nd. Three investment analysts have rated the stock with a Strong Buy rating and ten have issued a Buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of C$29.71.

Hudbay Minerals Price Performance

The stock’s 50-day moving average price is C$27.35 and its 200 day moving average price is C$21.58. The company has a quick ratio of 0.85, a current ratio of 1.86 and a debt-to-equity ratio of 46.39. The firm has a market capitalization of C$14.11 billion, a price-to-earnings ratio of 30.71, a PEG ratio of 3.97 and a beta of 2.05.

Hudbay Minerals (TSE:HBM) (NYSE:HBM) last posted its quarterly earnings results on Wednesday, November 12th. The mining company reported C$0.03 earnings per share for the quarter. Hudbay Minerals had a net margin of 4.23% and a return on equity of 3.74%. The firm had revenue of C$0.35 million for the quarter. Equities research analysts expect that Hudbay Minerals Inc. will post 1.1220575 earnings per share for the current fiscal year.

Hudbay Minerals Company Profile

Hudbay Minerals Inc is a Canadian mining company with its operations, property developments, and exploration activities across the United States. The major mines that Hudbay operates are located in Manitoba, Canada, Arizona, United States; and Peru. The company is principally focused on the discovery, production, and marketing of base and precious metals. Hudbay produces copper concentrate, which contains copper, gold, and silver, as well as zinc metal. More than half the company’s revenue is attributable to the copper business.