Hudbay Minerals Inc. (HBM) Receives Consensus Rating of “Buy” from Brokerages

Shares of Hudbay Minerals Inc. (TSE:HBM) (NYSE:HBM) have received an average rating of “Buy” from the eleven ratings firms that are currently covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating, four have given a buy rating and two have issued a strong buy rating on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is C$12.09.

A number of brokerages have recently issued reports on HBM. Eight Capital reiterated a “buy” rating on shares of Hudbay Minerals in a research report on Thursday, August 17th. National Bank Financial downgraded Hudbay Minerals from an “outperform” rating to a “sector perform” rating and lifted their price target for the company from C$11.25 to C$13.00 in a research report on Wednesday, October 18th. CIBC reiterated an “outperform” rating and set a C$13.00 price target on shares of Hudbay Minerals in a research report on Tuesday, October 10th. Scotiabank reiterated a “focus stock” rating and set a C$12.50 price target on shares of Hudbay Minerals in a research report on Thursday, November 2nd. Finally, BMO Capital Markets lifted their price target on Hudbay Minerals from C$10.50 to C$10.75 and gave the company a “market perform” rating in a research report on Monday, October 2nd.

Hudbay Minerals (TSE HBM) opened at C$9.66 on Friday. Hudbay Minerals has a 12 month low of C$6.13 and a 12 month high of C$11.95.

In other news, insider Gmt Capital Corp bought 6,700 shares of the company’s stock in a transaction that occurred on Monday, November 20th. The stock was bought at an average price of C$7.68 per share, for a total transaction of C$51,456.00. Insiders purchased a total of 15,700 shares of company stock valued at $118,647 in the last 90 days.

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About Hudbay Minerals

Hudbay Minerals Inc is a Canada-based mining company. The Company is engaged in the production of copper concentrate, consisting of copper, gold and silver, as well as zinc metal. The Company is focused on the discovery, production and marketing of base and precious metals. The Company has assets in North and South America.

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