Y Intercept Hong Kong Ltd purchased a new position in HudBay Minerals Inc (NYSE:HBM – Free Report) (TSE:HBM) during the first quarter, HoldingsChannel.com reports. The fund purchased 168,271 shares of the mining company’s stock, valued at approximately $3,517,000.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Allworth Financial LP increased its holdings in HudBay Minerals by 107.9% in the 3rd quarter. Allworth Financial LP now owns 1,990 shares of the mining company’s stock worth $30,000 after buying an additional 1,033 shares in the last quarter. Quarry LP bought a new stake in shares of HudBay Minerals during the 3rd quarter worth approximately $38,000. IFP Advisors Inc bought a new position in HudBay Minerals during the 3rd quarter worth about $45,000. Banque Cantonale Vaudoise lifted its holdings 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 buying an additional 2,655 shares during the period. Finally, Kestra Advisory Services LLC bought a new position in shares of HudBay Minerals in the 4th quarter worth $71,000. 57.82% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several research firms have recently issued reports on HBM. Weiss Ratings upgraded shares of HudBay Minerals from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, June 29th. Jefferies Financial Group restated a “buy” rating on shares of HudBay Minerals in a research report on Monday. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of HudBay Minerals in a research report on Tuesday, April 21st. Scotiabank reiterated an “outperform” rating on shares of HudBay Minerals in a report on Thursday, June 25th. Finally, Wall Street Zen upgraded shares of HudBay Minerals from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $27.33.
HudBay Minerals Trading Down 6.7%
NYSE HBM traded down $1.56 during mid-day trading on Tuesday, reaching $21.78. 1,569,588 shares of the stock were exchanged, compared to its average volume of 5,929,384. The stock has a market capitalization of $9.67 billion, a PE ratio of 13.08, a PEG ratio of 0.26 and a beta of 1.48. 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 Inc has a 1-year low of $8.93 and a 1-year high of $32.15. The business’s fifty day simple moving average is $25.68 and its 200 day simple moving average is $23.93.
HudBay Minerals (NYSE:HBM – Get Free Report) (TSE:HBM) last announced its quarterly earnings results on Friday, May 1st. The mining company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.34 by $0.06. HudBay Minerals had a return on equity of 10.04% and a net margin of 27.75%.The company had revenue of $757.30 million during the quarter, compared to analyst estimates of $684.73 million. During the same period in the prior year, the firm posted $0.24 earnings per share. The firm’s revenue was up 27.3% on a year-over-year basis. On average, research analysts anticipate that HudBay Minerals Inc will post 1.65 earnings per share for the current fiscal year.
HudBay Minerals Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Tuesday, June 9th were issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.2%. The ex-dividend date was Tuesday, June 9th. HudBay Minerals’s dividend payout ratio (DPR) is currently 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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