Barclays Upgrades HudBay Minerals (NYSE:HBM) to “Strong-Buy”

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

A number of other analysts have also weighed in on HBM. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of HudBay Minerals in a report on Tuesday, April 21st. Citigroup upped their target price on HudBay Minerals from $23.00 to $32.50 and gave the stock a “buy” rating in a report on Wednesday, February 11th. Weiss Ratings upgraded HudBay Minerals from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, February 10th. Zacks Research lowered HudBay Minerals from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 17th. Finally, National Bank Financial lowered HudBay Minerals from an “outperform” rating to a “sector perform” rating in a report on Wednesday, January 28th. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, HudBay Minerals presently has an average rating of “Buy” and a consensus target price of $27.33.

HudBay Minerals Stock Down 1.5%

HudBay Minerals stock opened at $24.36 on Thursday. The business has a fifty day moving average of $22.97 and a two-hundred day moving average of $21.76. The company has a quick ratio of 1.20, a current ratio of 1.36 and a debt-to-equity ratio of 0.14. The firm has a market cap of $9.68 billion, a P/E ratio of 14.68, a P/E/G ratio of 0.29 and a beta of 1.37. HudBay Minerals has a twelve month low of $8.42 and a twelve month high of $28.74.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last posted its earnings results on Friday, May 1st. The mining company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.06. The company had revenue of $757.30 million during the quarter, compared to analyst estimates of $684.73 million. HudBay Minerals had a return on equity of 10.04% and a net margin of 27.75%.HudBay Minerals’s revenue was up 27.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.24 earnings per share. On average, analysts forecast that HudBay Minerals will post 1.65 earnings per share for the current fiscal year.

Hedge Funds Weigh In On HudBay Minerals

A number of large investors have recently made changes to their positions in the business. Waterfront Wealth Inc. increased its position in shares of HudBay Minerals by 1.0% during the fourth quarter. Waterfront Wealth Inc. now owns 39,451 shares of the mining company’s stock worth $783,000 after purchasing an additional 399 shares in the last quarter. Strong Tower Advisory Services increased its position in shares of HudBay Minerals by 0.6% in the 4th quarter. Strong Tower Advisory Services now owns 94,762 shares of the mining company’s stock valued at $1,881,000 after acquiring an additional 587 shares during the period. Quantinno Capital Management LP increased its position in shares of HudBay Minerals by 6.0% in the 1st quarter. Quantinno Capital Management LP now owns 11,597 shares of the mining company’s stock valued at $242,000 after acquiring an additional 657 shares during the period. Vontobel Holding Ltd. increased its position in shares of HudBay Minerals by 0.6% in the 4th quarter. Vontobel Holding Ltd. now owns 126,090 shares of the mining company’s stock valued at $2,503,000 after acquiring an additional 738 shares during the period. Finally, Savant Capital LLC increased its position in shares of HudBay Minerals by 2.4% in the 3rd quarter. Savant Capital LLC now owns 32,010 shares of the mining company’s stock valued at $485,000 after acquiring an additional 760 shares during the period. 57.82% of the stock is owned by institutional investors and hedge funds.

About HudBay Minerals

HudBay Minerals Inc is a Canada-based mining company engaged in the exploration, development and production of base and precious metals. Its primary products include copper, zinc, gold and silver concentrates, which are sold to smelters and refiners worldwide. The company’s operations span multiple stages of the mining cycle, from resource definition and feasibility studies to mine construction, extraction and reclamation.

The company traces its roots back to 1927, when it was established as Hudson Bay Mining & Smelting Co Limited.