Raymond James Boosts Hudbay Minerals (TSE:HBM) Price Target to C$11.50

Hudbay Minerals (TSE:HBMFree Report) (NYSE:HBM) had its target price increased by Raymond James from C$10.50 to C$11.50 in a research note issued to investors on Thursday morning, BayStreet.CA reports. They currently have an outperform rating on the mining company’s stock. Raymond James also issued estimates for Hudbay Minerals’ Q1 2024 earnings at $0.10 EPS, Q3 2024 earnings at $0.06 EPS and FY2024 earnings at $0.39 EPS.

Several other equities research analysts also recently issued reports on the company. Scotiabank increased their target price on Hudbay Minerals from C$10.50 to C$11.00 and gave the stock an outperform rating in a research report on Tuesday, February 6th. Stifel Nicolaus set a C$11.25 target price on Hudbay Minerals and gave the stock a buy rating in a research report on Tuesday, March 26th. BMO Capital Markets dropped their target price on Hudbay Minerals from C$9.50 to C$8.50 and set an outperform rating on the stock in a research report on Friday, December 22nd. National Bankshares increased their target price on Hudbay Minerals from C$8.50 to C$8.75 and gave the stock a sector perform rating in a research report on Monday, February 26th. Finally, CIBC increased their target price on Hudbay Minerals from C$11.00 to C$13.00 and gave the stock an outperform rating in a research report on Wednesday. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus target price of C$10.48.

Get Our Latest Stock Report on Hudbay Minerals

Hudbay Minerals Price Performance

Hudbay Minerals stock opened at C$10.72 on Thursday. Hudbay Minerals has a 12 month low of C$5.46 and a 12 month high of C$11.05. The company has a current ratio of 1.25, a quick ratio of 0.85 and a debt-to-equity ratio of 62.93. The business’s 50 day simple moving average is C$8.94 and its 200 day simple moving average is C$7.47. The company has a market cap of C$3.76 billion, a price-to-earnings ratio of 35.73, a PEG ratio of 3.97 and a beta of 1.96.

Hudbay Minerals (TSE:HBMGet Free Report) (NYSE:HBM) last posted its quarterly earnings data on Friday, February 23rd. The mining company reported C$0.27 EPS for the quarter, beating the consensus estimate of C$0.15 by C$0.12. Hudbay Minerals had a return on equity of 3.68% and a net margin of 3.93%. The business had revenue of C$819.90 million for the quarter, compared to the consensus estimate of C$710.46 million. Sell-side analysts forecast that Hudbay Minerals will post 0.681388 EPS for the current year.

Hudbay Minerals Dividend Announcement

The company also recently announced a 1 dividend, which was paid on Tuesday, March 5th. Investors of record on Friday, March 22nd were paid a $0.02 dividend. The ex-dividend date was Friday, March 22nd. This represents a yield of 0.13%. Hudbay Minerals’s dividend payout ratio is presently 6.67%.

Insider Activity at Hudbay Minerals

In related news, Senior Officer Mark Zachary Gupta sold 4,915 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of C$9.45, for a total value of C$46,446.75. In other news, Senior Officer Luis Alfonso Santivanez Silva sold 19,499 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of C$6.01, for a total transaction of C$117,188.99. Also, Senior Officer Mark Zachary Gupta sold 4,915 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of C$9.45, for a total value of C$46,446.75. 0.07% of the stock is owned by insiders.

Hudbay Minerals Company Profile

(Get Free Report)

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.

Read More

Analyst Recommendations for Hudbay Minerals (TSE:HBM)

Receive News & Ratings for Hudbay Minerals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hudbay Minerals and related companies with MarketBeat.com's FREE daily email newsletter.