Scotiabank Issues Pessimistic Forecast for Hudbay Minerals (TSE:HBM) Stock Price

Hudbay Minerals (TSE:HBM) (NYSE:HBM) had its price target decreased by research analysts at Scotiabank from C$37.00 to C$35.50 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. Scotiabank’s price objective would suggest a potential downside of 6.87% from the company’s current price.

Several other equities research analysts have also commented on the stock. ATB Cormark Capital Markets upped their price target on shares of Hudbay Minerals from C$26.00 to C$37.50 and gave the company an “outperform” rating in a research report on Monday. BMO Capital Markets upped their price objective on Hudbay Minerals from C$23.00 to C$24.00 in a research note on Tuesday, November 18th. Citigroup lifted their target price on Hudbay Minerals from C$23.00 to C$32.50 and gave the company a “buy” rating in a research report on Wednesday, February 11th. UBS Group set a C$34.50 price target on Hudbay Minerals and gave the stock a “buy” rating in a research report on Friday, January 9th. Finally, Royal Bank Of Canada lifted their price objective on Hudbay Minerals from C$26.00 to C$28.00 in a research report on Wednesday, December 10th. 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 stock. According to MarketBeat.com, Hudbay Minerals has an average rating of “Buy” and a consensus price target of C$35.78.

Hudbay Minerals Price Performance

Shares of HBM opened at C$38.12 on Monday. The firm has a fifty day simple moving average of C$31.80 and a two-hundred day simple moving average of C$24.60. The firm has a market cap of C$15.10 billion, a PE ratio of 32.86, a P/E/G ratio of 3.97 and a beta of 2.16. The company has a current ratio of 1.86, a quick ratio of 0.85 and a debt-to-equity ratio of 46.39. Hudbay Minerals has a 1-year low of C$8.49 and a 1-year high of C$38.80.

Hudbay Minerals (TSE:HBM) (NYSE:HBM) last issued its quarterly earnings data on Friday, February 20th. The mining company reported C$0.30 EPS for the quarter. The company had revenue of C$747.72 million during the quarter. Hudbay Minerals had a return on equity of 3.74% and a net margin of 4.23%. On average, equities analysts anticipate that Hudbay Minerals will post 1.1220575 EPS 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.