Hudbay Minerals (TSE:HBM) Price Target Cut to C$7.00 by Analysts at Canaccord Genuity

Hudbay Minerals (TSE:HBM) (NYSE:HBM) had its target price cut by Canaccord Genuity from C$9.00 to C$7.00 in a research note issued to investors on Monday morning, BayStreet.CA reports.

A number of other analysts have also recently commented on the stock. National Bank Financial dropped their target price on shares of Hudbay Minerals from C$9.00 to C$6.00 and set an outperform rating on the stock in a report on Monday. CIBC dropped their target price on shares of Hudbay Minerals from C$9.00 to C$7.00 in a report on Tuesday, August 6th. Eight Capital dropped their target price on shares of Hudbay Minerals from C$11.00 to C$9.00 in a report on Friday, August 2nd. Raymond James dropped their target price on shares of Hudbay Minerals from C$10.00 to C$8.00 and set a market perform rating on the stock in a report on Friday, August 2nd. Finally, Haywood Securities dropped their target price on shares of Hudbay Minerals from C$9.00 to C$8.00 in a report on Tuesday, August 6th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus target price of C$7.98.

Shares of HBM stock opened at C$4.39 on Monday. Hudbay Minerals has a 12 month low of C$4.19 and a 12 month high of C$10.42. The stock has a market cap of $1.18 billion and a PE ratio of -23.73. The company has a current ratio of 2.31, a quick ratio of 1.78 and a debt-to-equity ratio of 49.69. The company’s fifty day moving average price is C$6.13 and its 200-day moving average price is C$7.72.

The company also recently declared a Semi-Annual dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 6th will be paid a $0.01 dividend. The ex-dividend date of this dividend is Thursday, September 5th. Hudbay Minerals’s payout ratio is -8.27%.

In other news, insider Waterton Global Resource Management, Inc. purchased 500,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 10th. The shares were bought at an average price of C$6.57 per share, for a total transaction of C$3,284,358.00. Following the purchase, the insider now directly owns 17,324,844 shares in the company, valued at approximately C$113,801,979.98.

Hudbay Minerals Company Profile

Hudbay Minerals Inc, an integrated mining company, together with its subsidiaries, focuses 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; and zinc metal. The company owns three polymetallic mines, four ore concentrators, and a zinc production facility in northern Manitoba and Saskatchewan, Canada, as well as in Cusco, Peru; and copper projects in Arizona and Nevada, the United States.

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Analyst Recommendations for Hudbay Minerals (TSE:HBM)

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