ATB Cormark Capital Markets Raises Hudbay Minerals (TSE:HBM) Price Target to C$37.50

Hudbay Minerals (TSE:HBM) (NYSE:HBM) had its price objective increased by research analysts at ATB Cormark Capital Markets from C$26.00 to C$37.50 in a research note issued to investors on Monday,BayStreet.CA reports. The firm currently has an “outperform” rating on the mining company’s stock. ATB Cormark Capital Markets’ target price indicates a potential downside of 1.63% from the company’s previous close.

Other research analysts also recently issued reports about the stock. Desjardins raised their price target on shares of Hudbay Minerals from C$30.00 to C$36.00 and gave the company a “buy” rating in a report on Monday, January 26th. Scotiabank lifted their price objective on Hudbay Minerals from C$26.00 to C$31.00 in a research note on Thursday, January 8th. 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. Canaccord Genuity Group lifted their price target on Hudbay Minerals from C$35.00 to C$39.00 and gave the company a “buy” rating in a research report on Wednesday, February 11th. Finally, Canadian Imperial Bank of Commerce upped their price objective on shares of Hudbay Minerals from C$35.00 to C$42.00 in a research report on Wednesday, February 4th. Three analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of C$35.78.

Hudbay Minerals Stock Performance

Shares of HBM opened at C$38.12 on Monday. Hudbay Minerals has a 52-week low of C$8.49 and a 52-week high of C$38.80. The stock’s 50-day simple moving average is C$31.80 and its 200 day simple moving average is C$24.60. The company has a debt-to-equity ratio of 46.39, a quick ratio of 0.85 and a current ratio of 1.86. The stock has a market capitalization of C$15.10 billion, a price-to-earnings ratio of 32.86, a price-to-earnings-growth ratio of 3.97 and a beta of 2.16.

Hudbay Minerals (TSE:HBM) (NYSE:HBM) last announced its quarterly earnings results on Friday, February 20th. The mining company reported C$0.30 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$747.72 million for the quarter. Research analysts forecast that Hudbay Minerals will post 1.1220575 EPS for the current fiscal 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.