Hudbay Minerals (HBM) Receives a Hold from Scotiabank


Scotiabank analyst Orest Wowkodaw maintained a Hold rating on Hudbay Minerals (HBM) yesterday and set a price target of C$4.00. The company’s shares closed last Tuesday at $2.45.

According to TipRanks.com, Wowkodaw is a 5-star analyst with an average return of 13.3% and a 49.3% success rate. Wowkodaw covers the Basic Materials sector, focusing on stocks such as Turquoise Hill Resources, First Quantum Minerals, and Freeport-McMoRan.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Hudbay Minerals with a $3.30 average price target, which is a 36.4% upside from current levels. In a report issued on May 8, Stifel Nicolaus also maintained a Hold rating on the stock with a C$4.25 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.

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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.

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