Canaccord Genuity analyst Dalton Baretto maintained a Buy rating on Hudbay Minerals (HBM) on May 15 and set a price target of C$5.00. The company’s shares closed last Monday at $3.36.
According to TipRanks.com, Baretto is a 5-star analyst with an average return of 17.0% and a 61.4% success rate. Baretto covers the Basic Materials sector, focusing on stocks such as Turquoise Hill Resources, First Quantum Minerals, and Fortuna Silver Mines.
Currently, the analyst consensus on Hudbay Minerals is a Moderate Buy with an average price target of $3.75, representing a 9.3% upside. In a report issued on May 29, BMO Capital also upgraded the stock to Buy with a C$5.00 price target.
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Based on Hudbay Minerals’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $245 million and GAAP net loss of $76.13 million. In comparison, last year the company earned revenue of $292 million and had a GAAP net loss of $13.41 million.
Based on the recent corporate insider activity of 31 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of HBM in relation to earlier this year.
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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.
