In a latest note to investors, a research analyst has provided a rating update for the HudBay Minerals (HBM). Farooq Hamed, an analyst with Raymond James, has downgraded their rating on HBM to Hold yesterday , with a C$9 price target.
According to TipRanks.com, Hamed is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -13.1% and a 37.6% success rate. Hamed covers the Basic Materials sector, focusing on stocks such as Detour Gold Corporation, Hudbay Minerals Inc, and Lundin Mining.
The word on The Street in general, suggests a Hold analyst consensus rating for HudBay Minerals with a C$8.90 average price target, representing a 2.4% upside. In a report released yesterday, Canaccord Genuity also downgraded the stock to Hold with a C$9 price target.
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Based on HudBay Minerals’ latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of C$29.81 million. In comparison, last year the company had a net profit of C$127 million.
HudBay Minerals, Inc. is a mining company, which engages in the production of copper concentrate, zinc concentrate, and zinc metal. It also involves in the discovery, production, and marketing of base and precious metals. The company was founded on January 16, 1996 and is headquartered in Toronto, Canada.
The company’s shares closed on Wednesday at C$8.69.
