HudBay Minerals (NYSE:HBM) Rating Increased to Strong-Buy at Barclays

Barclays upgraded shares of HudBay Minerals (NYSE:HBM) (TSE:HBM) to a strong-buy rating in a research report report published on Thursday morning,Zacks.com reports.

Other equities research analysts also recently issued research reports about the company. Wall Street Zen raised HudBay Minerals from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Weiss Ratings raised HudBay Minerals from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, February 10th. Citigroup lifted their target price on HudBay Minerals from $23.00 to $32.50 and gave the company a “buy” rating in a research report on Wednesday, February 11th. Zacks Research cut HudBay Minerals from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 17th. Finally, National Bank Financial cut HudBay Minerals from an “outperform” rating to a “sector perform” rating in a report on Wednesday, January 28th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, HudBay Minerals currently has a consensus rating of “Buy” and a consensus target price of $27.33.

HudBay Minerals Stock Performance

Shares of HBM stock opened at $24.36 on Thursday. The company has a market capitalization of $9.68 billion, a P/E ratio of 14.68, a price-to-earnings-growth ratio of 0.29 and a beta of 1.37. HudBay Minerals has a 52 week low of $8.42 and a 52 week high of $28.74. The company’s 50 day moving average price is $22.97 and its two-hundred day moving average price is $21.76. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.20 and a current ratio of 1.36.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last issued its quarterly 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 during the quarter, compared to analysts’ expectations of $684.73 million. During the same period last year, the business earned $0.24 EPS. The business’s quarterly revenue was up 27.3% on a year-over-year basis. On average, analysts expect that HudBay Minerals will post 1.65 earnings per share for the current fiscal year.

HudBay Minerals Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Tuesday, June 9th will be given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend is Tuesday, June 9th. HudBay Minerals’s dividend payout ratio is presently 0.60%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in HBM. Bank of America Corp DE lifted its holdings in HudBay Minerals by 53.3% during the 1st quarter. Bank of America Corp DE now owns 1,883,698 shares of the mining company’s stock worth $39,369,000 after purchasing an additional 655,308 shares in the last quarter. Janus Henderson Group PLC purchased a new stake in shares of HudBay Minerals in the 1st quarter valued at about $25,995,000. Amundi raised its holdings in shares of HudBay Minerals by 169.6% in the 1st quarter. Amundi now owns 1,078,471 shares of the mining company’s stock valued at $22,540,000 after acquiring an additional 678,468 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of HudBay Minerals by 86.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 5,824 shares of the mining company’s stock valued at $122,000 after buying an additional 2,698 shares in the last quarter. Finally, Royal Bank of Canada raised its holdings in shares of HudBay Minerals by 7.8% during the 1st quarter. Royal Bank of Canada now owns 8,254,831 shares of the mining company’s stock valued at $172,526,000 after buying an additional 597,422 shares in the last quarter. Institutional investors own 57.82% of the company’s stock.

HudBay Minerals Company Profile

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.