Hudbay Minerals (TSE:HBM) (NYSE:HBM) was downgraded by equities researchers at TD Securities from an “action list buy” rating to a “buy” rating in a research note issued to investors on Tuesday. They presently have a C$14.50 target price on the mining company’s stock, down from their previous target price of C$15.00. TD Securities’ price target would suggest a potential upside of 63.10% from the stock’s current price.
A number of other research analysts also recently commented on HBM. BMO Capital Markets lowered their price target on shares of Hudbay Minerals from C$12.00 to C$11.50 in a report on Monday, April 2nd. Eight Capital increased their price target on shares of Hudbay Minerals from C$15.50 to C$16.00 in a report on Monday, April 2nd. CIBC lowered their price target on shares of Hudbay Minerals from C$16.00 to C$15.00 in a report on Monday, April 2nd. Canaccord Genuity raised shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a report on Monday, April 2nd. Finally, Scotiabank lowered their price target on shares of Hudbay Minerals from C$14.00 to C$13.00 and set a “focus stock” rating for the company in a report on Monday, April 2nd. Two research analysts have rated the stock with a hold rating, eight have assigned 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 target price of C$13.23.
HBM stock traded down C$0.07 during trading on Tuesday, reaching C$8.89. The company’s stock had a trading volume of 1,305,197 shares, compared to its average volume of 1,874,181. Hudbay Minerals has a 1 year low of C$6.13 and a 1 year high of C$12.65.
In other Hudbay Minerals news, insider Gmt Capital Corp sold 4,900 shares of the firm’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of C$8.87, for a total value of C$43,463.00. In the last three months, insiders sold 105,500 shares of company stock valued at $875,109.
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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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