Hudbay Minerals (TSE:HBM) Upgraded by Barclays to Strong-Buy Rating

Hudbay Minerals (TSE:HBM) (NYSE:HBM) was upgraded by equities research analysts at Barclays to a “strong-buy” rating in a report issued on Thursday,Zacks.com reports.

Several other equities research analysts have also issued reports on the stock. National Bank Financial lowered shares of Hudbay Minerals from an “outperform” rating to a “sector perform” rating and increased their target price for the stock from C$28.00 to C$40.00 in a report on Thursday, January 29th. Desjardins set a C$40.00 target price on shares of Hudbay Minerals and gave the stock a “buy” rating in a report on Thursday, March 5th. ATB Cormark Capital Markets increased their target price on shares of Hudbay Minerals from C$26.00 to C$37.50 and gave the stock an “outperform” rating in a report on Monday, February 23rd. Raymond James Financial increased their target price on shares of Hudbay Minerals from C$34.00 to C$36.00 and gave the stock an “outperform” rating in a report on Monday, January 26th. Finally, Citigroup increased their target price on shares of Hudbay Minerals from C$23.00 to C$32.50 and gave the stock a “buy” rating in a report on Wednesday, February 11th. Three analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of C$39.22.

Hudbay Minerals Trading Down 1.1%

Hudbay Minerals stock opened at C$33.68 on Thursday. The firm has a 50 day moving average of C$31.59 and a 200 day moving average of C$29.96. The firm has a market capitalization of C$13.38 billion, a price-to-earnings ratio of 20.17, a P/E/G ratio of 3.97 and a beta of 2.34. Hudbay Minerals has a 12-month low of C$11.64 and a 12-month high of C$38.94. The company has a current ratio of 1.36, a quick ratio of 0.85 and a debt-to-equity ratio of 30.14.

Hudbay Minerals (TSE:HBM) (NYSE:HBM) last released its earnings results on Friday, May 1st. The mining company reported C$0.56 earnings per share (EPS) for the quarter. The company had revenue of C$1.05 billion during the quarter. Hudbay Minerals had a net margin of 27.86% and a return on equity of 20.70%. As a group, research analysts predict that Hudbay Minerals will post 1.1220575 earnings per share for the current year.

Insiders Place Their Bets

In other Hudbay Minerals news, insider Eugene Chi-Yen Lei purchased 1,000 shares of the company’s stock in a transaction on Friday, March 27th. The stock was acquired at an average cost of C$26.85 per share, for a total transaction of C$26,850.00. Following the purchase, the insider directly owned 195,847 shares of the company’s stock, valued at C$5,258,491.95. This trade represents a 0.51% increase in their position. 0.07% of the stock is owned by insiders.

About Hudbay Minerals

Hudbay (TSX, NYSE: HBM) is a copper-focused critical minerals mining company with three long-life operations and a world-class pipeline of copper growth projects in tier-one mining jurisdictions of Canada, Peru and the United States. Hudbay’s operating portfolio includes the Constancia mine in Cusco (Peru), the Snow Lake operations in Manitoba (Canada) and the Copper Mountain mine in British Columbia (Canada). Copper is the primary metal produced by the Company, which is complemented by meaningful gold production and by-product zinc, silver and molybdenum.