Hudbay Minerals (TSE:HBM) Price Target Lowered to C$13.50 at Scotiabank

Hudbay Minerals (TSE:HBM) (NYSE:HBM) had its price target decreased by Scotiabank from C$14.00 to C$13.50 in a note issued to investors on Friday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the mining company’s stock. Scotiabank’s price objective points to a potential upside of 23.74% from the stock’s current price.

A number of other equities analysts have also recently commented on the company. National Bankshares reduced their target price on Hudbay Minerals from C$17.00 to C$15.50 and set an “outperform” rating for the company in a report on Thursday, February 20th. Stifel Canada raised shares of Hudbay Minerals to a “strong-buy” rating in a research note on Wednesday, March 19th. Canaccord Genuity Group dropped their price target on shares of Hudbay Minerals from C$15.50 to C$14.00 and set a “buy” rating for the company in a research report on Thursday, February 20th. TD Securities cut their price objective on Hudbay Minerals from C$15.00 to C$14.00 and set a “buy” rating on the stock in a report on Thursday, February 20th. Finally, Royal Bank of Canada upped their target price on shares of Hudbay Minerals from C$15.00 to C$16.00 and gave the stock an “outperform” rating in a research note on Thursday, March 13th. Thirteen analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Hudbay Minerals presently has an average rating of “Buy” and a consensus price target of C$15.15.

Hudbay Minerals Price Performance

HBM traded down C$0.52 during midday trading on Friday, hitting C$10.91. 687,929 shares of the company traded hands, compared to its average volume of 1,835,448. The business has a 50 day simple moving average of C$11.61 and a two-hundred day simple moving average of C$11.93. Hudbay Minerals has a 52-week low of C$9.08 and a 52-week high of C$14.33. The company has a market capitalization of C$3.03 billion, a price-to-earnings ratio of 30.72, a PEG ratio of 3.97 and a beta of 1.83. The company has a current ratio of 1.86, a quick ratio of 0.85 and a debt-to-equity ratio of 46.39.

Insiders Place Their Bets

In other news, Senior Officer Francisco Javier Del Rio Del Aguila sold 12,959 shares of the business’s stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of C$12.00, for a total transaction of C$155,508.00. Also, Director Peter Gerald Jan Kukielski bought 9,300 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The stock was bought at an average cost of C$10.76 per share, for a total transaction of C$100,068.00. Insiders acquired 11,800 shares of company stock valued at $127,418 in the last ninety days. Insiders own 0.07% of the company’s stock.

Hudbay Minerals Company Profile

Hudbay Minerals Inc, a diversified mining company, focuses on the exploration, development, operation, and optimization of properties in North and South America. It produces copper concentrates containing gold, silver, and molybdenum; gold concentrates containing zinc; zinc concentrates; molybdenum concentrates; and silver/gold doré.