The Materials sector company, HudBay Minerals (HBM), has received a rating update from a Wall Street analyst yesterday. Analyst Oscar Cabrera from CIBC remains neutral on the stock and has a C$7 price target.
According to TipRanks.com, Cabrera is ranked 0 out of 5 stars with an average return of -21.1% and a 18.2% success rate. Cabrera covers the Basic Materials sector, focusing on stocks such as Turquoise Hill Resources Ltd, First Quantum Minerals Ltd, and Trevali Mining Corporation.
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HudBay Minerals has an analyst consensus of Moderate Buy, with a price target consensus of C$7.50, implying a 66.7% upside from current levels. In a report issued on August 2, Raymond James also maintained a Hold rating on the stock with a C$8 price target.
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Based on HudBay Minerals’ latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of C$72.44 million. In comparison, last year the company had a net profit of C$31.86 million.
HudBay Minerals, Inc. operates as a mining company, which engages in the production of copper concentrate, molybdenum concentrate and zinc metal. It focuses on 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 Friday at C$4.50, close to its 52-week low of C$4.41.
