Public Employees Retirement System of Ohio raised its stake in shares of HudBay Minerals Inc (NYSE:HBM – Free Report) (TSE:HBM) by 9.9% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 786,244 shares of the mining company’s stock after acquiring an additional 70,814 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in HudBay Minerals were worth $16,408,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Waterfront Wealth Inc. boosted its stake in shares of HudBay Minerals by 1.0% during the 4th quarter. Waterfront Wealth Inc. now owns 39,451 shares of the mining company’s stock worth $783,000 after acquiring an additional 399 shares in the last quarter. Strong Tower Advisory Services raised its stake in shares of HudBay Minerals by 0.6% in the 4th quarter. Strong Tower Advisory Services now owns 94,762 shares of the mining company’s stock valued at $1,881,000 after acquiring an additional 587 shares in the last quarter. Vontobel Holding Ltd. raised its stake in shares of HudBay Minerals by 0.6% in the 4th quarter. Vontobel Holding Ltd. now owns 126,090 shares of the mining company’s stock valued at $2,503,000 after acquiring an additional 738 shares in the last quarter. Rockefeller Capital Management L.P. lifted its holdings in HudBay Minerals by 25.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 4,933 shares of the mining company’s stock worth $98,000 after purchasing an additional 986 shares during the last quarter. Finally, Allworth Financial LP lifted 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 purchasing an additional 1,033 shares during the last quarter. Institutional investors and hedge funds own 57.82% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities analysts have commented on HBM shares. Barclays increased their price target on HudBay Minerals from $30.00 to $32.00 and gave the company an “overweight” rating in a report on Wednesday, July 15th. Bank of America reduced their price objective on shares of HudBay Minerals from $33.50 to $29.50 and set a “buy” rating for the company in a research note on Thursday, July 9th. Weiss Ratings raised shares of HudBay Minerals from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, June 29th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of HudBay Minerals in a research note on Tuesday, April 21st. Finally, Scotiabank reiterated an “outperform” rating on shares of HudBay Minerals in a report on Thursday, June 25th. Eleven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, HudBay Minerals presently has a consensus rating of “Moderate Buy” and an average price target of $31.33.
HudBay Minerals Price Performance
Shares of NYSE:HBM opened at $22.36 on Friday. The company has a market cap of $9.93 billion, a price-to-earnings ratio of 13.47, a PEG ratio of 0.34 and a beta of 1.48. The business has a 50 day moving average price of $24.86 and a 200 day moving average price of $24.10. 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 Inc has a twelve month low of $8.93 and a twelve month high of $32.15.
HudBay Minerals (NYSE:HBM – Get Free Report) (TSE:HBM) last issued 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 for the quarter, compared to the consensus estimate of $684.73 million. During the same period in the previous year, the business posted $0.24 EPS. The company’s revenue for the quarter was up 27.3% on a year-over-year basis. Research analysts predict that HudBay Minerals Inc will post 1.6 earnings per share for the current year.
HudBay Minerals Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Tuesday, June 9th were paid a $0.01 dividend. The ex-dividend date was Tuesday, June 9th. This represents a $0.04 annualized dividend and a dividend yield of 0.2%. HudBay Minerals’s dividend payout ratio (DPR) is presently 1.81%.
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.
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