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

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

A number of other equities analysts have also weighed in on HBM. National Bank Financial lowered Hudbay Minerals from an “outperform” rating to a “sector perform” rating and boosted their target price for the stock from C$28.00 to C$40.00 in a research report on Thursday, January 29th. Raymond James Financial boosted their target price on Hudbay Minerals from C$34.00 to C$36.00 and gave the stock an “outperform” rating in a research report on Monday, January 26th. ATB Cormark Capital Markets boosted their target price on Hudbay Minerals from C$26.00 to C$37.50 and gave the stock an “outperform” rating in a research report on Monday, February 23rd. Stifel Nicolaus boosted their target price on Hudbay Minerals from C$28.00 to C$41.00 and gave the stock a “buy” rating in a research report on Wednesday, February 11th. Finally, Canaccord Genuity Group decreased their target price on Hudbay Minerals from C$41.00 to C$40.00 in a research report on Monday, May 4th. Three equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of C$39.22.

Hudbay Minerals Price Performance

Shares of TSE:HBM opened at C$33.68 on Thursday. Hudbay Minerals has a fifty-two week low of C$11.64 and a fifty-two week high of C$38.94. The business has a 50-day simple moving average of C$31.59 and a two-hundred day simple moving average of C$29.96. The company has a debt-to-equity ratio of 30.14, a quick ratio of 0.85 and a current ratio of 1.36. The firm has a market cap of C$13.38 billion, a price-to-earnings ratio of 20.17, a price-to-earnings-growth ratio of 3.97 and a beta of 2.34.

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

Insider Activity at Hudbay Minerals

In other Hudbay Minerals news, insider Eugene Chi-Yen Lei purchased 1,000 shares of Hudbay Minerals stock in a transaction dated Friday, March 27th. The stock was purchased at an average price of C$26.85 per share, with a total value of C$26,850.00. Following the transaction, 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 ownership of the stock. 0.07% of the stock is owned by insiders.

Hudbay Minerals Company Profile

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.