RBC Capital Thinks HudBay Minerals’ Stock is Going to Recover


The Materials sector company, HudBay Minerals (TSX: HBM), has received a rating update from a Wall Street analyst today. Analyst Stephen Walker from RBC Capital reiterated a Buy rating, with a C$11 price target.

According to TipRanks.com, Walker is a 4-star analyst with an average return of 8.7% and a 49.5% success rate. Walker covers the Basic Materials sector, focusing on stocks such as Centerra Gold Inc, Freeport-McMoRan, and Agnico Eagle.

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HudBay Minerals has an analyst consensus of Strong Buy, with a price target consensus of C$10.81, which is a 63.5% upside from current levels. In a report issued on August 1, Scotiabank also reiterated a Buy rating on the stock with a C$10 price target.

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Based on HudBay Minerals’ latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of C$31.86 million. In comparison, last year the company had a net profit of C$34.4 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 Monday at C$6.61, close to its 52-week low of C$6.25.

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