Royal Bank of Canada Forecasts Strong Price Appreciation for Hudbay Minerals (TSE:HBM) Stock

Hudbay Minerals (TSE:HBM) (NYSE:HBM) had its target price raised by Royal Bank of Canada from C$15.00 to C$16.00 in a report issued on Thursday,BayStreet.CA reports. The firm currently has an “outperform” rating on the mining company’s stock. Royal Bank of Canada’s price objective would indicate a potential upside of 44.53% from the stock’s previous close.

HBM has been the topic of several other reports. Stifel Nicolaus boosted their price target on shares of Hudbay Minerals from C$16.00 to C$16.50 and gave the company a “buy” rating in a report on Thursday, January 30th. National Bankshares lowered their price target on shares of Hudbay Minerals from C$17.00 to C$15.50 and set an “outperform” rating on the stock in a report on Thursday, February 20th. Canaccord Genuity Group lowered 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 report on Thursday, February 20th. Scotiabank lowered their price target on shares of Hudbay Minerals from C$15.50 to C$14.00 and set an “outperform” rating on the stock in a report on Thursday, February 20th. Finally, TD Securities lowered their price target on shares of 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. Thirteen research 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.com, the stock presently has a consensus rating of “Buy” and an average target price of C$15.18.

Hudbay Minerals Trading Up 3.8 %

Hudbay Minerals stock opened at C$11.07 on Thursday. The company’s fifty day simple moving average is C$11.78 and its 200-day simple moving average is C$11.88. The company has a quick ratio of 0.85, a current ratio of 1.86 and a debt-to-equity ratio of 46.39. Hudbay Minerals has a 12 month low of C$9.01 and a 12 month high of C$14.33. The stock has a market cap of C$3.07 billion, a P/E ratio of 31.17, a P/E/G ratio of 3.97 and a beta of 1.83.

Insiders Place Their Bets

In related news, Director Peter Gerald Jan Kukielski acquired 9,300 shares of the business’s stock in a transaction dated Friday, February 21st. The stock was acquired at an average price of C$10.76 per share, with a total value of C$100,068.00. Company 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.