Hudbay Minerals (TSE:HBM) Price Target Raised to C$32.50

Hudbay Minerals (TSE:HBM) (NYSE:HBM) had its price target boosted by Citigroup from C$23.00 to C$32.50 in a research report released on Wednesday,BayStreet.CA reports. The firm currently has a buy rating on the mining company’s stock.

Several other research firms have also recently commented on HBM. UBS Group set a C$34.50 target price on Hudbay Minerals and gave the stock a “buy” rating in a research note on Friday, January 9th. Canadian Imperial Bank of Commerce raised their price objective on shares of Hudbay Minerals from C$35.00 to C$42.00 in a research report on Wednesday, February 4th. Canaccord Genuity Group boosted their target price on shares of Hudbay Minerals from C$35.00 to C$39.00 and gave the company a “buy” rating in a research report on Wednesday. Jefferies Financial Group increased their target price on shares of Hudbay Minerals from C$31.00 to C$37.00 in a research note on Monday, January 19th. Finally, Royal Bank Of Canada raised their price target on shares of Hudbay Minerals from C$26.00 to C$28.00 in a report on Wednesday, December 10th. Three analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Hudbay Minerals currently has an average rating of “Buy” and an average price target of C$35.05.

Hudbay Minerals Price Performance

HBM stock opened at C$35.56 on Wednesday. The firm has a market cap of C$14.09 billion, a price-to-earnings ratio of 30.66, a PEG ratio of 3.97 and a beta of 2.16. The company has a quick ratio of 0.85, a current ratio of 1.86 and a debt-to-equity ratio of 46.39. Hudbay Minerals has a 12-month low of C$8.49 and a 12-month high of C$38.80. The company’s fifty day simple moving average is C$30.41 and its 200 day simple moving average is C$23.35.

Hudbay Minerals (TSE:HBM) (NYSE:HBM) last issued 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 return on equity of 3.74% and a net margin of 4.23%.The firm had revenue of C$0.35 million during the quarter. On average, analysts expect that Hudbay Minerals will post 1.1220575 earnings per share for the current year.

About Hudbay Minerals

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.