HudBay Minerals Inc $HBM Shares Purchased by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) by 12.1% during the 2nd quarter, Holdings Channel reports. The fund owned 2,650,409 shares of the mining company’s stock after purchasing an additional 285,500 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in HudBay Minerals were worth $28,142,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. increased its holdings in shares of HudBay Minerals by 64.6% during the first quarter. SBI Securities Co. Ltd. now owns 3,773 shares of the mining company’s stock valued at $29,000 after purchasing an additional 1,481 shares during the period. Pacifica Partners Inc. lifted its holdings in HudBay Minerals by 6.7% in the second quarter. Pacifica Partners Inc. now owns 25,921 shares of the mining company’s stock worth $272,000 after purchasing an additional 1,625 shares during the period. Federated Hermes Inc. grew its position in HudBay Minerals by 1.4% in the 1st quarter. Federated Hermes Inc. now owns 126,836 shares of the mining company’s stock valued at $963,000 after buying an additional 1,794 shares in the last quarter. Ballentine Partners LLC increased its stake in HudBay Minerals by 10.3% during the 2nd quarter. Ballentine Partners LLC now owns 29,757 shares of the mining company’s stock valued at $316,000 after buying an additional 2,768 shares during the period. Finally, Jones Financial Companies Lllp increased its stake in HudBay Minerals by 131.6% during the 1st quarter. Jones Financial Companies Lllp now owns 6,570 shares of the mining company’s stock valued at $50,000 after buying an additional 3,733 shares during the period. Institutional investors and hedge funds own 57.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Zacks Research upgraded shares of HudBay Minerals from a “hold” rating to a “strong-buy” rating in a report on Monday, October 13th. Weiss Ratings restated a “buy (b-)” rating on shares of HudBay Minerals in a research report on Wednesday, October 8th. The Goldman Sachs Group initiated coverage on HudBay Minerals in a research note on Monday, September 8th. They set a “buy” rating for the company. CIBC reissued an “outperform” rating on shares of HudBay Minerals in a research note on Tuesday, July 15th. Finally, Royal Bank Of Canada restated an “outperform” rating on shares of HudBay Minerals in a report on Thursday, August 14th. Three equities research analysts have rated the stock with a Strong Buy rating and ten have given a Buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $19.50.

HudBay Minerals Price Performance

NYSE HBM opened at $16.13 on Monday. HudBay Minerals Inc has a 1 year low of $5.95 and a 1 year high of $17.73. The business’s fifty day moving average is $14.95 and its two-hundred day moving average is $11.48. The stock has a market capitalization of $6.39 billion, a P/E ratio of 22.10 and a beta of 1.58. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.86 and a current ratio of 1.03.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last issued its earnings results on Wednesday, August 13th. The mining company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.08. The business had revenue of $536.40 million for the quarter, compared to analysts’ expectations of $558.21 million. HudBay Minerals had a return on equity of 10.73% and a net margin of 13.13%.HudBay Minerals’s revenue was up 26.1% compared to the same quarter last year. On average, research analysts forecast that HudBay Minerals Inc will post 0.79 earnings per share for the current fiscal year.

HudBay Minerals Increases Dividend

The business also recently declared a semi-annual dividend, which was paid on Friday, September 19th. Investors of record on Tuesday, September 2nd were paid a $0.0073 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a yield of 17.0%. This is an increase from HudBay Minerals’s previous semi-annual dividend of $0.01. HudBay Minerals’s dividend payout ratio (DPR) is 1.37%.

HudBay Minerals Company Profile

Hudbay Minerals Inc, a diversified mining company, focuses on the exploration, development, operation, and optimization of properties in North and South America. It produces copper concentrates containing gold, silver, and molybdenum; gold concentrates containing zinc; zinc concentrates; molybdenum concentrates; and silver/gold doré.