HudBay Minerals (NYSE:HBM) Stock Rating Upgraded by Barclays

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

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

HudBay Minerals Trading Down 1.5%

Shares of HBM opened at $24.36 on Thursday. The company has a current ratio of 1.36, a quick ratio of 1.20 and a debt-to-equity ratio of 0.14. The firm’s 50-day moving average is $22.97 and its two-hundred day moving average is $21.76. HudBay Minerals has a twelve month low of $8.42 and a twelve month high of $28.74. The firm has a market capitalization of $9.68 billion, a P/E ratio of 14.68, a PEG ratio of 0.29 and a beta of 1.37.

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

Institutional Trading of HudBay Minerals

Hedge funds have recently bought and sold shares of the company. Picton Mahoney Asset Management grew its position in HudBay Minerals by 9.3% during the third quarter. Picton Mahoney Asset Management now owns 6,350,482 shares of the mining company’s stock valued at $96,171,000 after acquiring an additional 537,964 shares during the period. Bank of Nova Scotia grew its position in HudBay Minerals by 662.0% during the third quarter. Bank of Nova Scotia now owns 4,273,384 shares of the mining company’s stock valued at $64,783,000 after acquiring an additional 3,712,572 shares during the period. State of Wyoming purchased a new stake in HudBay Minerals during the third quarter valued at about $800,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in HudBay Minerals by 10.4% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,502,218 shares of the mining company’s stock valued at $159,111,000 after acquiring an additional 986,278 shares during the period. Finally, Affinity Wealth Management LLC purchased a new stake in HudBay Minerals during the fourth quarter valued at about $3,857,000. Institutional investors and hedge funds own 57.82% of the company’s stock.

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.