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RBC Capital Thinks Hudbay Minerals’ Stock is Going to Recover

RBC Capital analyst Sam Crittenden maintained a Buy rating on Hudbay Minerals (HBMResearch Report) on July 12 and set a price target of C$12.00. The company’s shares closed last Friday at $3.26, close to its 52-week low of $3.08.

According to TipRanks.com, Crittenden is a 5-star analyst with an average return of 12.9% and a 47.3% success rate. Crittenden covers the Basic Materials sector, focusing on stocks such as First Quantum Minerals, Nexa Resources SA, and Freeport-McMoRan.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Hudbay Minerals with a $9.21 average price target, representing a 186.0% upside. In a report issued on June 27, Credit Suisse also maintained a Buy rating on the stock with a C$9.00 price target.

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Hudbay Minerals’ market cap is currently $853.8M and has a P/E ratio of -7.08.

Based on the recent corporate insider activity of 30 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying 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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