BMO Capital Markets Upgrades Hudbay Minerals (TSE:HBM) to Strong-Buy

Hudbay Minerals (TSE:HBM) (NYSE:HBM) was upgraded by stock analysts at BMO Capital Markets to a “strong-buy” rating in a research note issued on Tuesday,Zacks.com reports.

Several other research firms have also issued reports on HBM. Canaccord Genuity Group lowered their target price on shares of Hudbay Minerals from C$15.50 to C$14.00 and set a “buy” rating for the company in a report on Thursday, February 20th. Scotiabank dropped their price target on shares of Hudbay Minerals from C$14.00 to C$13.50 and set an “outperform” rating on the stock in a research note on Friday, March 28th. TD Securities decreased their target price on shares of Hudbay Minerals from C$15.00 to C$14.00 and set a “buy” rating for the company in a report on Thursday, February 20th. Stifel Nicolaus raised their price target on shares of Hudbay Minerals from C$16.00 to C$16.50 and gave the company a “buy” rating in a research report on Thursday, January 30th. Finally, Jefferies Financial Group increased their target price on Hudbay Minerals from C$14.00 to C$17.00 in a research note on Friday, April 4th. Twelve analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of C$15.64.

Hudbay Minerals Price Performance

HBM opened at C$9.78 on Tuesday. The stock has a fifty day simple moving average of C$10.79 and a two-hundred day simple moving average of C$11.89. The company has a market cap of C$2.71 billion, a price-to-earnings ratio of 27.54, a price-to-earnings-growth ratio of 3.97 and a beta of 1.83. The company has a current ratio of 1.86, a quick ratio of 0.85 and a debt-to-equity ratio of 46.39. Hudbay Minerals has a 12-month low of C$8.49 and a 12-month high of C$14.33.

Insider Buying and Selling

In other news, Director Peter Gerald Jan Kukielski bought 9,300 shares of the stock in a transaction on Friday, February 21st. The stock was acquired at an average cost of C$10.76 per share, for a total transaction of C$100,068.00. Also, Senior Officer Francisco Javier Del Rio Del Aguila sold 12,959 shares of the stock in a transaction on Thursday, March 20th. The stock was sold at an average price of C$12.00, for a total value of C$155,508.00. In the last ninety days, insiders bought 11,800 shares of company stock valued at $127,418. Company insiders own 0.07% of the company’s stock.

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.