CIBC Forecasts Strong Price Appreciation for Hudbay Minerals (TSE:HBM) Stock

Hudbay Minerals (TSE:HBM) (NYSE:HBM) had its price target raised by research analysts at CIBC from C$35.00 to C$42.00 in a research report issued on Wednesday,BayStreet.CA reports. CIBC’s price objective indicates a potential upside of 30.64% from the company’s current price.

A number of other research analysts have also weighed in on the company. National Bankshares lowered Hudbay Minerals from an “outperform” rating to a “sector perform” rating and increased their price objective for the company from C$28.00 to C$40.00 in a report on Thursday, January 29th. Bank of America upped their target price on Hudbay Minerals from C$22.50 to C$26.75 in a research report on Thursday, October 16th. Desjardins raised their price target on shares of Hudbay Minerals from C$30.00 to C$36.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. UBS Group set a C$34.50 price objective on shares of Hudbay Minerals and gave the company a “buy” rating in a report on Friday, January 9th. Finally, Scotiabank increased their price objective on shares of Hudbay Minerals from C$26.00 to C$31.00 in a research note on Thursday, January 8th. Three analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of C$31.66.

Hudbay Minerals Trading Down 8.0%

TSE HBM opened at C$32.15 on Wednesday. Hudbay Minerals has a 12-month low of C$8.49 and a 12-month high of C$38.80. The company has a fifty day simple moving average of C$29.09 and a two-hundred day simple moving average of C$22.47. The company has a current ratio of 1.86, a quick ratio of 0.85 and a debt-to-equity ratio of 46.39. The stock has a market cap of C$12.74 billion, a P/E ratio of 27.72, a P/E/G ratio of 3.97 and a beta of 2.16.

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