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

Tipranks - Tipranks - Tue Jul 7, 4:54AM CDT

In a report released yesterday, Fahad Tariq from Jefferies maintained a Buy rating on Hudbay Minerals, with a price target of C$50.00.

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Tariq covers the Basic Materials sector, focusing on stocks such as Lundin Gold, OceanaGold, and Capstone Copper. According to TipRanks, Tariq has an average return of 10.7% and a 57.55% success rate on recommended stocks.

In a report released on June 30, UBS also maintained a Buy rating on the stock with a C$43.00 price target.

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Based on Hudbay Minerals’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of C$743.51 million and a net profit of C$187.28 million. In comparison, last year the company earned a revenue of C$594.9 million and had a net profit of C$100.4 million

Based on the recent corporate insider activity of 21 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of HBM in relation to earlier this year.

Read More on HBM:

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