Glazer Capital LLC acquired a new stake in shares of HudBay Minerals Inc (NYSE:HBM – Free Report) (TSE:HBM) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 3,550,164 shares of the mining company’s stock, valued at approximately $83,752,000. HudBay Minerals makes up about 2.1% of Glazer Capital LLC’s investment portfolio, making the stock its 7th largest position. Glazer Capital LLC owned approximately 0.80% of HudBay Minerals as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently made changes to their positions in HBM. Rakuten Securities Inc. acquired a new stake in HudBay Minerals during the second quarter valued at approximately $28,000. Allworth Financial LP boosted its holdings in HudBay Minerals by 107.9% during the third 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. Fiduciary Financial Advisors acquired a new position in HudBay Minerals in the second quarter worth approximately $32,000. EFG International AG acquired a new position in HudBay Minerals in the second quarter worth approximately $38,000. Finally, Quarry LP bought a new position in shares of HudBay Minerals in the third quarter valued at $38,000. Institutional investors and hedge funds own 57.82% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently commented on HBM shares. Citigroup reiterated a “positive” rating on shares of HudBay Minerals in a research report on Wednesday, July 15th. Scotiabank restated an “outperform” rating on shares of HudBay Minerals in a report on Thursday, July 30th. Wall Street Zen lowered HudBay Minerals from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Jefferies Financial Group reaffirmed a “buy” rating on shares of HudBay Minerals in a report on Monday, July 6th. Finally, Bank of America decreased their price target on HudBay Minerals from $33.50 to $29.50 and set a “buy” rating for the company in a research report on Thursday, July 9th. Eleven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $31.33.
HudBay Minerals Stock Up 1.3%
Shares of HudBay Minerals stock opened at $30.39 on Friday. HudBay Minerals Inc has a 1 year low of $11.56 and a 1 year high of $32.15. The company has a market cap of $13.50 billion, a P/E ratio of 17.87, a P/E/G ratio of 0.46 and a beta of 1.48. The company has a current ratio of 2.24, a quick ratio of 1.93 and a debt-to-equity ratio of 0.17. The stock has a 50-day moving average price of $24.59 and a 200 day moving average price of $24.57.
HudBay Minerals (NYSE:HBM – Get Free Report) (TSE:HBM) last released its earnings results on Wednesday, July 29th. The mining company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.02. The company had revenue of $631.30 million for the quarter, compared to analysts’ expectations of $632.43 million. HudBay Minerals had a return on equity of 9.47% and a net margin of 27.48%.The business’s revenue for the quarter was up 17.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.19 EPS. As a group, analysts expect that HudBay Minerals Inc will post 1.58 EPS for the current fiscal year.
HudBay Minerals Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Tuesday, September 8th will be issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.1%. The ex-dividend date is Tuesday, September 8th. HudBay Minerals’s dividend payout ratio (DPR) is currently 1.18%.
HudBay Minerals Company 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.
Featured Stories
- Five stocks we like better than HudBay Minerals
- Nutanix’s Rally Has a Bigger Story Than Earnings as AMD’s AI Bet Takes Shape
- SEC Probe Puts Wall Street Leverage Risk Back in Focus
- A Bearish-Dollar Options Surge Raises the Stakes for Warsh at Jackson Hole
- Five Below’s Turnaround Is Working—But Has the Stock Run Too Far?
Receive News & Ratings for HudBay Minerals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for HudBay Minerals and related companies with MarketBeat.com's FREE daily email newsletter.
