Texas Bank & Trust Co acquired a new position in shares of HudBay Minerals Inc (NYSE:HBM – Free Report) (TSE:HBM) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 25,600 shares of the mining company’s stock, valued at approximately $508,000.
Other large investors also recently added to or reduced their stakes in the company. Allworth Financial LP boosted its position in shares of HudBay Minerals by 107.9% during the 3rd quarter. Allworth Financial LP now owns 1,990 shares of the mining company’s stock valued at $30,000 after acquiring an additional 1,033 shares during the last quarter. Quarry LP acquired a new stake in HudBay Minerals during the third quarter worth about $38,000. IFP Advisors Inc purchased a new position in HudBay Minerals during the third quarter worth about $45,000. Banque Cantonale Vaudoise raised its stake in HudBay Minerals by 513.5% during the third quarter. Banque Cantonale Vaudoise now owns 3,172 shares of the mining company’s stock worth $48,000 after purchasing an additional 2,655 shares during the period. Finally, Jones Financial Companies Lllp boosted its holdings in HudBay Minerals by 131.6% in the 1st quarter. Jones Financial Companies Lllp now owns 6,570 shares of the mining company’s stock valued at $50,000 after purchasing an additional 3,733 shares during the last quarter. 57.82% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of analysts recently weighed in on the stock. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of HudBay Minerals in a research note on Tuesday, April 21st. Barclays started coverage on HudBay Minerals in a research note on Thursday. They issued an “overweight” rating and a $30.00 price target on the stock. Wall Street Zen upgraded HudBay Minerals from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Weiss Ratings upgraded HudBay Minerals from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, February 10th. Finally, Citigroup increased their price target on shares of HudBay Minerals from $23.00 to $32.50 and gave the company a “buy” rating in a research note on Wednesday, February 11th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, HudBay Minerals currently has a consensus rating of “Moderate Buy” and an average target price of $27.33.
HudBay Minerals Price Performance
Shares of NYSE HBM opened at $24.76 on Friday. The stock has a market cap of $9.83 billion, a P/E ratio of 14.91, a P/E/G ratio of 0.28 and a beta of 1.37. HudBay Minerals Inc has a twelve month low of $8.31 and a twelve month high of $28.74. The stock has a 50 day moving average of $22.93 and a two-hundred day moving average of $21.74. The company has a current ratio of 1.36, a quick ratio of 1.20 and a debt-to-equity ratio of 0.14.
HudBay Minerals (NYSE:HBM – Get Free Report) (TSE:HBM) last announced its earnings results on Friday, May 1st. The mining company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.06. HudBay Minerals had a net margin of 27.75% and a return on equity of 10.04%. The business had revenue of $757.30 million during the quarter, compared to analysts’ expectations of $684.73 million. During the same period in the prior year, the company earned $0.24 earnings per share. The business’s revenue was up 27.3% compared to the same quarter last year. On average, research analysts forecast that HudBay Minerals Inc will post 1.65 earnings per share for the current year.
HudBay Minerals Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Tuesday, June 9th will be given a $0.01 dividend. The ex-dividend date is Tuesday, June 9th. This represents a $0.04 annualized dividend and a yield of 0.2%. HudBay Minerals’s dividend payout ratio is presently 0.60%.
About HudBay Minerals
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.
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