Scotiabank Lowers Hudbay Minerals (HBM) Price Target to C$13.00

Hudbay Minerals (TSE:HBM) (NYSE:HBM) had its target price lowered by equities researchers at Scotiabank from C$14.00 to C$13.00 in a research report issued on Monday. The brokerage currently has a “focus stock” rating on the mining company’s stock. Scotiabank’s target price points to a potential upside of 46.23% from the company’s current price.

Several other equities analysts have also recently issued reports on HBM. CIBC lowered their price objective on Hudbay Minerals from C$16.00 to C$15.00 in a research report on Monday. BMO Capital Markets lowered their price target on Hudbay Minerals from C$12.00 to C$11.50 in a report on Monday. Eight Capital increased their price target on Hudbay Minerals from C$15.50 to C$16.00 in a report on Monday. TD Securities lowered their price target on Hudbay Minerals from C$17.00 to C$15.00 in a report on Monday. Finally, Canaccord Genuity raised Hudbay Minerals from a “hold” rating to a “buy” rating in a report on Monday. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of C$13.08.

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Shares of HBM traded down C$0.23 during mid-day trading on Monday, reaching C$8.89. The company had a trading volume of 1,837,501 shares, compared to its average volume of 1,883,190. Hudbay Minerals has a 52 week low of C$6.13 and a 52 week high of C$12.65.

Hudbay Minerals (TSE:HBM) (NYSE:HBM) last released its quarterly earnings data on Wednesday, February 21st. The mining company reported C$0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.34 by C($0.01). The business had revenue of C$526.00 million during the quarter, compared to the consensus estimate of C$513.30 million. Hudbay Minerals had a net margin of 24.07% and a return on equity of 19.07%.

In related news, insider Gmt Capital Corp sold 29,200 shares of the stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of C$9.29, for a total value of C$271,268.00. In the last ninety days, insiders sold 97,700 shares of company stock valued at $819,447.

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About Hudbay Minerals

Hudbay Minerals Inc is a Canada-based mining company. The Company is engaged in the production of copper concentrate, consisting of copper, gold and silver, as well as zinc metal. The Company is focused on the discovery, production and marketing of base and precious metals. The Company has assets in North and South America.

Analyst Recommendations for Hudbay Minerals (TSE:HBM)

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