GMP FirstEnergy Sticks to Its Buy Rating for HudBay Minerals

By Jason Carr

HudBay Minerals (TSX: HBM), the Materials sector company, has received a rating update from a Wall Street analyst today. GMP FirstEnergy’s analyst Ian Parkinson reiterates their Buy rating on the shares, with a C$13.75 price target.

Parkinson has an average return of 44.1% when recommending HudBay Minerals.

According to TipRanks.com, Parkinson is ranked #129 out of 4572 analysts.

Currently, the analyst consensus on HudBay Minerals is Moderate Buy and the average price target is C$11.96, representing a 60.8% upside.

In a report issued on June 7, Scotiabank also maintained a Buy rating on the stock with a C$12 price target.

Based on HudBay Minerals’ latest earnings report for the quarter ending March 31, the company posted quarterly revenue of C$327 million and GAAP net loss of C$3.05 million. In comparison, last year the company earned revenue of C$376 million and had a GAAP net loss of C$21.69 million.

HudBay Minerals, Inc. operates as an integrated mining company with the operations, development properties and exploration activities across the America. It provides metals mining, metallurgical processing and refining, which produces zinc, copper, gold, silver and zinc oxide. The company was founded on January 16, 1996 and is headquartered in Toronto, Canada.

The company’s shares closed last Friday at $7.44.