O Shaughnessy Asset Management LLC increased its holdings in HudBay Minerals Inc (NYSE:HBM – Free Report) (TSE:HBM) by 111.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 391,140 shares of the mining company’s stock after buying an additional 206,407 shares during the period. O Shaughnessy Asset Management LLC owned about 0.10% of HudBay Minerals worth $7,766,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also modified their holdings of HBM. Vanguard Group Inc. increased its position in HudBay Minerals by 2.4% in the third quarter. Vanguard Group Inc. now owns 16,198,255 shares of the mining company’s stock worth $245,355,000 after buying an additional 373,399 shares during the period. Invesco Ltd. increased its position in HudBay Minerals by 0.4% in the third quarter. Invesco Ltd. now owns 11,391,356 shares of the mining company’s stock worth $172,693,000 after buying an additional 46,948 shares during the period. Dimensional Fund Advisors LP increased its position in HudBay Minerals by 3.2% in the third quarter. Dimensional Fund Advisors LP now owns 11,334,474 shares of the mining company’s stock worth $171,832,000 after buying an additional 348,278 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in HudBay Minerals by 10.4% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,502,218 shares of the mining company’s stock worth $159,111,000 after buying an additional 986,278 shares during the period. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in HudBay Minerals in the third quarter worth $123,736,000. 57.82% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several analysts recently weighed in on the stock. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of HudBay Minerals in a research report on Tuesday, April 21st. Citigroup lifted their price objective on shares of HudBay Minerals from $23.00 to $32.50 and gave the company a “buy” rating in a research report on Wednesday, February 11th. Barclays assumed coverage on shares of HudBay Minerals in a research report on Thursday, May 21st. They issued an “overweight” rating and a $30.00 price objective on the stock. Wall Street Zen upgraded shares of HudBay Minerals from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Finally, Weiss Ratings downgraded shares of HudBay Minerals from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $27.33.
HudBay Minerals Trading Down 3.7%
Shares of NYSE:HBM opened at $24.64 on Thursday. The company has a market cap of $9.79 billion, a PE ratio of 14.84, a P/E/G ratio of 0.30 and a beta of 1.43. The company’s 50-day moving average price is $25.03 and its 200 day moving average price is $22.89. HudBay Minerals Inc has a fifty-two week low of $8.93 and a fifty-two week high of $32.15. The company has a quick ratio of 1.20, a current ratio of 1.36 and a debt-to-equity ratio of 0.14.
HudBay Minerals (NYSE:HBM – Get Free Report) (TSE:HBM) last released its earnings results on Friday, May 1st. The mining company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.34 by $0.06. The firm had revenue of $757.30 million for the quarter, compared to analysts’ expectations of $684.73 million. HudBay Minerals had a net margin of 27.75% and a return on equity of 10.04%. HudBay Minerals’s quarterly revenue was up 27.3% on a year-over-year basis. During the same quarter last year, the company earned $0.24 EPS. Sell-side analysts anticipate that HudBay Minerals Inc will post 1.66 earnings per share for the current year.
HudBay Minerals Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Tuesday, June 9th will be paid a dividend of $0.01 per share. The ex-dividend date of this dividend is Tuesday, June 9th. This represents a $0.04 annualized dividend and a yield of 0.2%. HudBay Minerals’s dividend payout ratio (DPR) is presently 1.81%.
HudBay Minerals 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.
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