HudBay Minerals (HBM) has received a rating update from a Wall Street analyst today. Analyst Farooq Hamed from Raymond James remains neutral on the stock and has a C$7.50 price target.
According to TipRanks.com, Hamed is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -10.7% and a 34.3% success rate. Hamed covers the Basic Materials sector, focusing on stocks such as First Quantum Minerals Ltd, Detour Gold Corporation, and Hudbay Minerals Inc.
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The word on The Street in general, suggests a Moderate Buy analyst consensus rating for HudBay Minerals with a C$7.38 average price target, a 63.6% upside from current levels. In a report issued on August 8, RBC Capital also maintained a Hold rating on the stock.
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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 Monday at C$4.51, close to its 52-week low of C$4.41.
