Scotiabank Issues Pessimistic Forecast for Hudbay Minerals (TSE:HBM) Stock Price

Hudbay Minerals (TSE:HBM) (NYSE:HBM) had its price objective cut by Scotiabank from C$15.50 to C$14.00 in a research note issued to investors on Thursday,BayStreet.CA reports. They currently have an outperform rating on the mining company’s stock.

Several other research firms have also recently weighed in on HBM. National Bankshares dropped their price objective on shares of Hudbay Minerals from C$17.00 to C$15.50 and set an “outperform” rating for the company in a research report on Thursday. TD Securities dropped their price objective on shares of Hudbay Minerals from C$15.00 to C$14.00 and set a “buy” rating for the company in a research report on Thursday. Stifel Nicolaus boosted their price objective on shares of Hudbay Minerals from C$16.00 to C$16.50 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Finally, Canaccord Genuity Group dropped their price objective on shares of Hudbay Minerals from C$15.50 to C$14.00 and set a “buy” rating for the company in a research report on Thursday. Thirteen analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of C$15.12.

Hudbay Minerals Stock Performance

HBM stock opened at C$10.78 on Thursday. The company has a debt-to-equity ratio of 46.39, a current ratio of 1.86 and a quick ratio of 0.85. The company has a 50 day moving average price of C$12.27 and a 200 day moving average price of C$11.89. Hudbay Minerals has a fifty-two week low of C$7.07 and a fifty-two week high of C$14.33. The stock has a market capitalization of C$2.99 billion, a PE ratio of 30.36, a price-to-earnings-growth ratio of 3.97 and a beta of 1.83.

Insider Activity at Hudbay Minerals

In related news, Senior Officer Robert Alan Carter sold 8,014 shares of the company’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of C$13.24, for a total value of C$106,105.36. 0.07% of the stock is owned by corporate insiders.

About Hudbay Minerals

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.