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

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

Other research analysts have also recently issued reports about the company. Stifel Nicolaus lifted their price objective on Hudbay Minerals from C$16.00 to C$16.50 and gave the company a “buy” rating in a research report on Thursday, January 30th. Royal Bank of Canada raised their price objective on shares of Hudbay Minerals from C$15.00 to C$16.00 and gave the company an “outperform” rating in a research report on Thursday, March 13th. TD Securities lowered their price objective on Hudbay Minerals from C$15.00 to C$14.00 and set a “buy” rating on the stock in a research report on Thursday, February 20th. National Bankshares reduced their price objective on shares of Hudbay Minerals from C$17.00 to C$15.50 and set an “outperform” rating on the stock in a research report on Thursday, February 20th. Finally, Canaccord Genuity Group decreased their price target on shares of Hudbay Minerals from C$15.50 to C$14.00 and set a “buy” rating on the stock in a research note on Thursday, February 20th. Thirteen investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of C$15.15.

Hudbay Minerals Stock Performance

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

Insider Activity

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

About Hudbay Minerals

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.