In a latest note to investors, a research analyst has provided a rating update for the HudBay Minerals (HBM). RBC Capital’s analyst Sam Crittenden reiterates their Hold rating on the shares.
According to TipRanks.com, Crittenden ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -7.2% and a 39.4% success rate. Crittenden covers the Basic Materials sector, focusing on stocks such as Teck Resources Limited, Hudbay Minerals Inc, and Nexa Resources SA.
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The word on The Street in general, suggests a Moderate Buy analyst consensus rating for HudBay Minerals with a C$7.67 average price target, a 70.4% 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.
