Hudbay Minerals Inc (HBM) Receives “Outperform” Rating from Royal Bank of Canada

Hudbay Minerals Inc (TSE:HBM) (NYSE:HBM)‘s stock had its “outperform” rating reiterated by equities research analysts at Royal Bank of Canada in a note issued to investors on Thursday, StockTargetPrices.com reports. They currently have a C$13.00 target price on the mining company’s stock. Royal Bank of Canada’s target price would indicate a potential upside of 59.90% from the stock’s current price.

Other equities research analysts also recently issued research reports about the stock. Scotiabank reaffirmed a “focus stock” rating and set a C$12.25 price target on shares of Hudbay Minerals in a research note on Wednesday, February 15th. TD Securities boosted their price objective on shares of Hudbay Minerals from C$13.00 to C$15.00 and gave the company a “buy” rating in a research report on Tuesday, February 7th. BMO Capital Markets reiterated a “market perform” rating and set a C$12.00 price objective on shares of Hudbay Minerals in a research report on Thursday, February 2nd. Barclays PLC boosted their price objective on shares of Hudbay Minerals from C$10.00 to C$11.00 in a research report on Thursday, March 9th. Finally, Canaccord Genuity cut their price target on shares of Hudbay Minerals from C$11.50 to C$7.00 in a report on Monday, December 12th. Four research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of C$11.08.

Analyst Recommendations for Hudbay Minerals (TSE:HBM)

Shares of Hudbay Minerals (TSE:HBM) traded down 2.71% during midday trading on Thursday, reaching $7.91. 962,874 shares of the company’s stock traded hands. Hudbay Minerals has a 12 month low of $4.74 and a 12 month high of $11.95. The stock has a 50-day moving average price of $9.20 and a 200 day moving average price of $8.56. The firm’s market cap is $1.88 billion.

The company also recently declared a dividend, which was paid on Friday, March 31st. Shareholders of record on Friday, March 31st were given a dividend of $0.01 per share. This represents a dividend yield of 0.1%. The ex-dividend date of this dividend was Wednesday, March 8th.

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Hudbay Minerals Company Profile

Hudbay Minerals Inc is a Canada-based mining company. The Company is engaged in the production of copper concentrate, consisting of copper, gold and silver, as well as zinc metal. The Company is focused on the discovery, production and marketing of base and precious metals. The Company has assets in North and South America.

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