CIBC Trims Hudbay Minerals (TSE:HBM) Target Price to C$10.00
Hudbay Minerals (TSE:HBM) (NYSE:HBM) had its price objective reduced by equities research analysts at CIBC from C$12.00 to C$10.00 in a research report issued on Friday, August 31st. CIBC’s target price indicates a potential upside of 69.49% from the stock’s current price.
Other research analysts also recently issued reports about the company. Royal Bank of Canada cut their price target on Hudbay Minerals from C$13.00 to C$11.00 and set an “outperform” rating on the stock in a report on Monday, August 13th. Raymond James cut their price target on Hudbay Minerals from C$11.00 to C$10.00 in a report on Thursday, August 2nd. Eight Capital cut their price target on Hudbay Minerals from C$13.00 to C$10.00 and set a “c$6.79” rating on the stock in a report on Monday, July 23rd. CSFB cut their price target on Hudbay Minerals from C$13.00 to C$10.50 and set a “c$6.86” rating on the stock in a report on Thursday, July 19th. Finally, National Bank Financial cut their price target on Hudbay Minerals from C$11.25 to C$9.50 in a report on Saturday, July 14th. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of C$11.00.
HBM traded up C$0.18 during trading on Friday, hitting C$5.90. 966,000 shares of the stock were exchanged, compared to its average volume of 1,741,435. Hudbay Minerals has a 1 year low of C$5.44 and a 1 year high of C$12.65.
In other Hudbay Minerals news, insider Adrienne Blazo acquired 20,000 shares of the stock in a transaction dated Friday, August 10th. The stock was purchased at an average price of C$6.57 per share, with a total value of C$131,400.00. Also, insider Gmt Capital Corp acquired 21,500 shares of the stock in a transaction dated Thursday, July 5th. The stock was acquired at an average cost of C$5.43 per share, with a total value of C$116,745.00. Insiders bought a total of 128,300 shares of company stock valued at $821,069 in the last three months.
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 four polymetallic mines, four ore concentrators, and a zinc production facility in northern Manitoba and Saskatchewan, Canada, as well as in Cusco, Peru; and a copper project in Arizona, the United States.
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