In a report released yesterday, Farooq Hamed from Raymond James reiterated a Buy rating on Hudbay Minerals (HBM), with a price target of C$13.00. The company’s shares closed last Wednesday at $8.57, close to its 52-week high of $9.60.
According to TipRanks.com, Hamed is ranked 0 out of 5 stars with an average return of -5.1% and a 43.0% success rate. Hamed covers the Basic Materials sector, focusing on stocks such as First Quantum Minerals, Lundin Mining, and Kinross Gold.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Hudbay Minerals with a $10.32 average price target, a 16.6% upside from current levels. In a report issued on April 27, Credit Suisse also maintained a Buy rating on the stock with a C$13.00 price target.
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Based on Hudbay Minerals’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $322 million and net profit of $7.41 million. In comparison, last year the company earned revenue of $324 million and had a GAAP net loss of $1.46 million.
Based on the recent corporate insider activity of 38 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.
