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Raymond James Keeps a Buy Rating on Hudbay Minerals (HBM)

Raymond James analyst Farooq Hamed maintained a Buy rating on Hudbay Minerals (HBMResearch Report) today and set a price target of C$13.00. The company’s shares closed last Tuesday at $7.97.

According to TipRanks.com, Hamed has currently 0 stars on a ranking scale of 0-5 stars, with an average return of -6.1% and a 42.1% success rate. Hamed covers the Basic Materials sector, focusing on stocks such as First Quantum Minerals, Lundin Mining, and Ivanhoe Mines.

Hudbay Minerals has an analyst consensus of Strong Buy, with a price target consensus of $10.94, implying a 33.4% upside from current levels. In a report issued on March 17, Stifel Nicolaus also maintained a Buy rating on the stock with a C$16.50 price target.

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Based on Hudbay Minerals’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $425 million and GAAP net loss of $10.45 million. In comparison, last year the company earned revenue of $322 million and had a net profit of $7.41 million.

Based on the recent corporate insider activity of 33 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.

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HudBay Minerals, Inc. operates as a mining company, which engages in the production of copper concentrate, molybdenum concentrate and zinc metal. It focuses on the discovery, production, and marketing of base and precious metals. The company was founded on January 16, 1996 and is headquartered in Toronto, Canada.

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