Hudbay Minerals (TSE:HBM) Upgraded to “Strong-Buy” at Barclays

Barclays upgraded shares of Hudbay Minerals (TSE:HBM) (NYSE:HBM) to a strong-buy rating in a research note released on Thursday,Zacks.com reports.

A number of other equities analysts have also recently weighed in on the company. TD Securities upped their price target on Hudbay Minerals from C$17.00 to C$43.00 and gave the stock a “buy” rating in a report on Thursday, January 22nd. Stifel Nicolaus upped their price target on Hudbay Minerals from C$28.00 to C$41.00 and gave the stock a “buy” rating in a report on Wednesday, February 11th. BMO Capital Markets upped their price target on Hudbay Minerals from C$33.00 to C$39.00 in a report on Wednesday, April 22nd. Raymond James Financial upped their price target on 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, ATB Cormark Capital Markets upped their price target on Hudbay Minerals from C$26.00 to C$37.50 and gave the stock an “outperform” rating in a report on Monday, February 23rd. Three equities research 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. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of C$39.22.

Hudbay Minerals Stock Down 1.1%

TSE HBM opened at C$33.68 on Thursday. The stock has a market cap of C$13.38 billion, a PE ratio of 20.17, a P/E/G ratio of 3.97 and a beta of 2.34. 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 moving average price of C$31.59 and a two-hundred day moving average price of C$29.96. The company has a quick ratio of 0.85, a current ratio of 1.36 and a debt-to-equity ratio of 30.14.

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

Hudbay Minerals Announces Dividend

The firm also recently announced a dividend, which was paid on Friday, March 27th. Shareholders of record on Friday, March 27th were given a $0.01 dividend. This represents a dividend yield of 3.0%. The ex-dividend date of this dividend was Tuesday, March 10th. Hudbay Minerals’s dividend payout ratio is presently 0.87%.

Insider Activity

In other Hudbay Minerals news, insider Eugene Chi-Yen Lei bought 1,000 shares of the business’s stock in a transaction on Friday, March 27th. The shares were bought at an average cost 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 in the company, valued at approximately C$5,258,491.95. This trade represents a 0.51% increase in their position. 0.07% of the stock is currently 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.