Scotiabank Cuts Hudbay Minerals (TSE:HBM) Target Price to C$7.50

Hudbay Minerals (TSE:HBM – Get Appraisal) (NYSE:HBM) had its price target cut by Scotiabank equity research analysts from C$10.00 to C$7.50 in a report on Thursday, BayStreet.CA reports. Scotiabank’s target price would indicate a potential upside of 54.96% from the company’s previous close.

Several other analysts have also recently released reports on the company. Royal Bank of Canada lowered its price target on Hudbay Minerals from CA$14.00 to CA$12.00 and set an “outperform” rating for the company in a Thursday, May 12 research note. National Bankshares lowered its price target on Hudbay Minerals shares from C$11.50 to C$8.50 in a research note on Wednesday. CIBC lowered its price target on Hudbay Minerals shares from C$14.00 to C$11.50 in a Wednesday, May 18 report. CSFB lowered its price target on Hudbay Minerals from C$12.00 to C$9.00 in a Tuesday, June 28 research report. Finally, BMO Capital Markets cut its price target on Hudbay Minerals shares from C$16.00 to C$15.00 in a report released Monday, April 18. Ten research analysts have rated the stock with a buy rating. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of C$10.88.

TSE:HBM opened at C$4.84 on Thursday. The stock’s 50-day moving average is C$6.70 and its 200-day moving average is C$8.60. The company has a debt ratio of 80.55, a current ratio of 1.35 and a quick ratio of 0.87. The stock has a market capitalization of C$1.27 billion and a PE ratio of -8.09. Hudbay Minerals has a fifty-two week low of C$4.70 and a fifty-two week high of C$11.17.

Hudbay Minerals (TSE:HBM – Get Rating) (NYSE:HBM) last released its results on Monday, May 9. The mining company reported EPS of C$0.03 for the quarter, missing analyst consensus estimates of C$0.12 by C$0.09. The company posted revenue of C$479.61 million in the quarter, while analysts had expected C$511.94 million. On average, equity research analysts expect Hudbay Minerals to post earnings per share of 1.4299999 for the current year.

Hudbay Minerals Company Profile (Get a rating)

Hudbay Minerals Inc, a diversified mining company, together with its subsidiaries, is focused on the discovery, production and marketing of base and precious metals in North and South America. It produces copper concentrates containing copper, gold and silver; gilded silver/gold; molybdenum concentrates; and zinc metals.

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