Raymond James analyst Farooq Hamed maintained a Hold rating on Hudbay Minerals (HBM) yesterday and set a price target of C$5.00. The company’s shares closed last Wednesday at $3.34.
According to TipRanks.com, Hamed has 0 stars on 0-5 stars ranking scale with an average return of -12.5% and a 34.8% success rate. Hamed covers the Basic Materials sector, focusing on stocks such as First Quantum Minerals, Lundin Mining, and Ivanhoe Mines.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Hudbay Minerals with a $3.13 average price target, implying a -7.9% downside from current levels. In a report issued on July 9, Scotiabank also maintained a Hold rating on the stock with a C$4.25 price target.
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The company has a one-year high of $5.59 and a one-year low of $1.23. Currently, Hudbay Minerals has an average volume of 1.38M.
Based on the recent corporate insider activity of 27 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.
