Hudbay Minerals (HBM) Now Covered by Barclays

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Barclays began coverage on shares of Hudbay Minerals (NYSE:HBM) (TSE:HBM) in a research report report published on Wednesday, The Fly reports. The firm issued an overweight rating and a $8.00 target price on the mining company’s stock.

Several other brokerages also recently weighed in on HBM. Scotiabank downgraded Hudbay Minerals from a focus list rating to an outperform rating in a research note on Monday, June 25th. Zacks Investment Research upgraded Hudbay Minerals from a sell rating to a hold rating in a research note on Monday, July 23rd. ValuEngine downgraded Hudbay Minerals from a hold rating to a sell rating in a research note on Wednesday, June 27th. Credit Suisse Group restated a neutral rating on shares of Hudbay Minerals in a research note on Monday, September 10th. Finally, Bank of America started coverage on Hudbay Minerals in a research note on Tuesday, August 14th. They set a neutral rating and a $6.00 target price for the company. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of Hold and an average price target of $8.33.

NYSE:HBM traded down $0.04 during mid-day trading on Wednesday, hitting $4.67. 474,224 shares of the company’s stock traded hands, compared to its average volume of 625,987. Hudbay Minerals has a 12 month low of $4.13 and a 12 month high of $10.25. The company has a market cap of $1.32 billion, a price-to-earnings ratio of 8.19 and a beta of 2.87. The company has a quick ratio of 1.70, a current ratio of 2.15 and a debt-to-equity ratio of 0.48.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last announced its earnings results on Tuesday, July 31st. The mining company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.04). Hudbay Minerals had a net margin of 13.40% and a return on equity of 8.66%. The business had revenue of $371.29 million for the quarter, compared to the consensus estimate of $386.00 million. Analysts anticipate that Hudbay Minerals will post 0.34 EPS for the current year.

The company also recently disclosed a semiannual dividend, which was paid on Friday, September 28th. Shareholders of record on Friday, September 7th were given a $0.0077 dividend. The ex-dividend date was Thursday, September 6th. This represents a dividend yield of 0.31%. Hudbay Minerals’s dividend payout ratio is currently 3.51%.

Several hedge funds have recently made changes to their positions in the business. Franklin Resources Inc. lifted its position in shares of Hudbay Minerals by 3.3% in the 1st quarter. Franklin Resources Inc. now owns 454,458 shares of the mining company’s stock worth $3,219,000 after acquiring an additional 14,360 shares during the period. PCJ Investment Counsel Ltd. lifted its position in shares of Hudbay Minerals by 29.0% in the 2nd quarter. PCJ Investment Counsel Ltd. now owns 88,331 shares of the mining company’s stock worth $492,000 after acquiring an additional 19,870 shares during the period. BlackRock Inc. lifted its position in shares of Hudbay Minerals by 131.1% in the 2nd quarter. BlackRock Inc. now owns 35,456 shares of the mining company’s stock worth $199,000 after acquiring an additional 20,113 shares during the period. Vident Investment Advisory LLC lifted its position in shares of Hudbay Minerals by 35.3% in the 2nd quarter. Vident Investment Advisory LLC now owns 89,491 shares of the mining company’s stock worth $501,000 after acquiring an additional 23,345 shares during the period. Finally, Regal Investment Advisors LLC bought a new stake in shares of Hudbay Minerals in the 2nd quarter worth approximately $139,000. Institutional investors own 58.07% of the company’s stock.

About Hudbay Minerals

Hudbay Minerals Inc, an integrated mining company, together with its subsidiaries, focuses on the discovery, production, and marketing of base and precious metals in North and South America. It produces copper concentrates containing copper, gold, and silver; and zinc metal. The company owns four polymetallic mines, four ore concentrators, and a zinc production facility in northern Manitoba and Saskatchewan, Canada, as well as in Cusco, Peru; and a copper project in Arizona, the United States.

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