Y Intercept Hong Kong Ltd Makes New $116,000 Investment in HudBay Minerals Inc $HBM

Y Intercept Hong Kong Ltd acquired a new stake in HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 10,943 shares of the mining company’s stock, valued at approximately $116,000.

A number of other hedge funds also recently made changes to their positions in HBM. Envestnet Asset Management Inc. boosted its holdings in shares of HudBay Minerals by 45.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 51,581 shares of the mining company’s stock worth $547,000 after buying an additional 16,149 shares during the last quarter. Carrera Capital Advisors bought a new stake in HudBay Minerals in the second quarter worth about $1,822,000. Easterly Investment Partners LLC raised its position in HudBay Minerals by 18.8% in the second quarter. Easterly Investment Partners LLC now owns 245,274 shares of the mining company’s stock worth $2,602,000 after acquiring an additional 38,860 shares during the period. Stratos Wealth Advisors LLC purchased a new position in HudBay Minerals in the second quarter valued at about $225,000. Finally, Vanguard Personalized Indexing Management LLC boosted its stake in HudBay Minerals by 8.9% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 72,195 shares of the mining company’s stock valued at $766,000 after acquiring an additional 5,896 shares during the last quarter. 57.82% of the stock is currently owned by institutional investors.

HudBay Minerals Price Performance

HudBay Minerals stock opened at $16.13 on Monday. The firm has a market capitalization of $6.39 billion, a P/E ratio of 22.10 and a beta of 1.58. HudBay Minerals Inc has a one year low of $5.95 and a one year high of $17.73. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.03 and a quick ratio of 0.86. The business has a fifty day moving average price of $14.95 and a 200-day moving average price of $11.48.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last released its quarterly earnings data on Wednesday, August 13th. The mining company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.08. HudBay Minerals had a return on equity of 10.73% and a net margin of 13.13%.The company had revenue of $536.40 million for the quarter, compared to analyst estimates of $558.21 million. HudBay Minerals’s revenue was up 26.1% on a year-over-year basis. As a group, equities research analysts forecast that HudBay Minerals Inc will post 0.79 EPS for the current year.

HudBay Minerals Increases Dividend

The company also recently declared a semi-annual dividend, which was paid on Friday, September 19th. Stockholders of record on Tuesday, September 2nd were issued a $0.0073 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This is a positive change from HudBay Minerals’s previous semi-annual dividend of $0.01. This represents a dividend yield of 17.0%. HudBay Minerals’s payout ratio is currently 1.37%.

Analysts Set New Price Targets

HBM has been the topic of a number of research reports. The Goldman Sachs Group assumed coverage on shares of HudBay Minerals in a report on Monday, September 8th. They issued a “buy” rating on the stock. Scotiabank reissued an “outperform” rating on shares of HudBay Minerals in a research report on Tuesday, October 28th. Wall Street Zen lowered HudBay Minerals from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 25th. CIBC reiterated an “outperform” rating on shares of HudBay Minerals in a research note on Tuesday, July 15th. Finally, National Bankshares restated an “outperform” rating on shares of HudBay Minerals in a research note on Thursday, August 14th. Three analysts have rated the stock with a Strong Buy rating and ten have assigned a Buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $19.50.

About HudBay Minerals

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.