Scotiabank Issues Pessimistic Forecast for Hudbay Minerals (TSE:HBM) Stock Price

Hudbay Minerals (TSE:HBM) (NYSE:HBM) had its price objective lowered by Scotiabank from C$14.00 to C$13.50 in a report published on Friday morning,BayStreet.CA reports. Scotiabank currently has an outperform rating on the mining company’s stock.

HBM has been the topic of several other reports. Canaccord Genuity Group dropped their price target on Hudbay Minerals from C$15.50 to C$14.00 and set a “buy” rating on the stock in a research report on Thursday, February 20th. Royal Bank of Canada increased their target price on shares of Hudbay Minerals from C$15.00 to C$16.00 and gave the stock an “outperform” rating in a report on Thursday, March 13th. Stifel Nicolaus lifted their price target on shares of Hudbay Minerals from C$16.00 to C$16.50 and gave the company a “buy” rating in a report on Thursday, January 30th. National Bankshares dropped their price objective on shares of Hudbay Minerals from C$17.00 to C$15.50 and set an “outperform” rating on the stock in a research note on Thursday, February 20th. Finally, TD Securities cut their target price on shares of Hudbay Minerals from C$15.00 to C$14.00 and set a “buy” rating on the stock in a report on Thursday, February 20th. Thirteen analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of C$15.15.

Hudbay Minerals Stock Down 3.8 %

Shares of Hudbay Minerals stock opened at C$10.99 on Friday. The company has a quick ratio of 0.85, a current ratio of 1.86 and a debt-to-equity ratio of 46.39. The business has a 50-day moving average price of C$11.58 and a 200 day moving average price of C$11.95. Hudbay Minerals has a fifty-two week low of C$9.08 and a fifty-two week high of C$14.33. The firm has a market cap of C$3.05 billion, a P/E ratio of 30.95, a P/E/G ratio of 3.97 and a beta of 1.83.

Hudbay Minerals Announces Dividend

The firm also recently announced a dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 21st were given a $0.01 dividend. This represents a yield of 0.1%. The ex-dividend date of this dividend was Tuesday, March 4th. Hudbay Minerals’s dividend payout ratio is currently 5.63%.

Insider Buying and Selling at Hudbay Minerals

In related news, Director Peter Gerald Jan Kukielski purchased 9,300 shares of the company’s stock in a transaction on Friday, February 21st. The shares were bought at an average cost of C$10.76 per share, for a total transaction of C$100,068.00. Also, Senior Officer Francisco Javier Del Rio Del Aguila sold 12,959 shares of the company’s stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of C$12.00, for a total value of C$155,508.00. Insiders have acquired 11,800 shares of company stock valued at $127,418 in the last quarter. Corporate insiders own 0.07% of the company’s stock.

Hudbay Minerals Company Profile

Hudbay Minerals Inc, a diversified mining company, focuses on the exploration, development, operation, and optimization of properties in North and South America. It produces copper concentrates containing gold, silver, and molybdenum; gold concentrates containing zinc; zinc concentrates; molybdenum concentrates; and silver/gold doré.