Jefferies Sticks to Its Buy Rating for Hudbay Minerals (HBM)

Jefferies analyst Fahad Tariq maintained a Buy rating on Hudbay Minerals today and set a price target of C$25.00. The company’s shares closed last Friday at $15.74.

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According to TipRanks, Tariq is a 4-star analyst with an average return of 12.1% and a 66.25% success rate. Tariq covers the Basic Materials sector, focusing on stocks such as NGEx Minerals, Barrick Mining, and Franco-Nevada.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Hudbay Minerals with a $13.70 average price target, which is a -12.96% downside from current levels. In a report released on October 2, Desjardins also maintained a Buy rating on the stock with a C$24.00 price target.

Based on Hudbay Minerals’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $536.4 million and a net profit of $117.7 million. In comparison, last year the company earned a revenue of $425.52 million and had a GAAP net loss of $16.58 million