Hudbay Minerals (TSE:HBM) trades 6.9% lower following analyst downgrade

Shares of Hudbay Minerals Inc. (TSE:HBM – Get Rating) (NYSE:HBM) fell 6.9% on Friday after Scotiabank lowered its share price target by $10.00 CA at CA$7.50. The stock traded as low as C$4.88 and last traded at C$4.88. 192,008 shares were traded at midday, down 84% from the average session volume of 1,209,312 shares. The stock had previously closed at C$5.24.

A number of other research analysts have also recently commented on HBM. CIBC lowered its price target on Hudbay Minerals shares from C$14.00 to C$11.50 in a Wednesday, May 18 research note. CSFB lowered its price target on Hudbay Minerals shares from C$12.00 to C$9.00 in a Tuesday, June 28 report. Credit Suisse Group lowered its price target on Hudbay Minerals shares to C$9.00 and set an “outperform” rating on the stock in a Tuesday, June 28 report. Raymond James lowered his price target on Hudbay Minerals shares from C$14.00 to C$12.00 and set an “outperform” rating for the stock in a Monday, May 16 report. Finally, Royal Bank of Canada lowered its price target on Hudbay Minerals shares from C$14.00 to C$12.00 and set an “outperform” rating for the stock in a Thursday 12 report. may. Ten analysts have rated the stock with a buy rating. According to MarketBeat, Hudbay Minerals currently has an average rating of “Buy” and a consensus target price of C$10.88.

The company has a 50-day moving average price of CA$6.77 and a 200-day moving average price of CA$8.62. The company has a market cap of C$1.26 billion and a price-earnings ratio of -8.16. The company has a current ratio of 1.35, a quick ratio of 0.87 and a debt ratio of 80.55.

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Hudbay Minerals (TSE:HBM – Get Rating) (NYSE:HBM) last reported results on Monday, May 9. The mining company reported earnings per share (EPS) of C$0.03 for the quarter, missing the consensus estimate of C$0.12 by C$0.09. The company posted revenue of C$479.61 million for the quarter, versus a consensus estimate of C$511.94 million. On average, analysts expect Hudbay Minerals Inc. to post earnings per share of 1.4299999 for the current year.

Hudbay Minerals Company Profile (TSE: HBM)

Hudbay Minerals Inc, a diversified mining company, together with its subsidiaries, is focused on the discovery, production and marketing of base and precious metals in North and South America. It produces copper concentrates containing copper, gold and silver; gilt silver/gold; molybdenum concentrates; and zinc metals.

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