EdgePoint Investment Group Inc. reduced its stake in shares of HudBay Minerals Inc (NYSE:HBM – Free Report) (TSE:HBM) by 14.0% in the first quarter, Holdings Channel.com reports. The institutional investor owned 2,747,198 shares of the mining company’s stock after selling 446,608 shares during the period. HudBay Minerals makes up about 0.5% of EdgePoint Investment Group Inc.’s holdings, making the stock its 23rd largest holding. EdgePoint Investment Group Inc.’s holdings in HudBay Minerals were worth $57,538,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Allworth Financial LP boosted its stake in HudBay Minerals by 107.9% during the 3rd quarter. Allworth Financial LP now owns 1,990 shares of the mining company’s stock valued at $30,000 after purchasing an additional 1,033 shares during the period. Quarry LP bought a new stake in shares of HudBay Minerals during the third quarter valued at approximately $38,000. IFP Advisors Inc acquired a new position in shares of HudBay Minerals during the third quarter worth approximately $45,000. Banque Cantonale Vaudoise grew its holdings in HudBay Minerals by 513.5% in the 3rd 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 in the last quarter. Finally, Jones Financial Companies Lllp grew its holdings in HudBay Minerals by 131.6% in the 1st quarter. Jones Financial Companies Lllp now owns 6,570 shares of the mining company’s stock worth $50,000 after buying an additional 3,733 shares in the last quarter. 57.82% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several analysts have weighed in on the company. Jefferies Financial Group reaffirmed a “buy” rating on shares of HudBay Minerals in a research note on Monday, July 6th. Citigroup restated a “positive” rating on shares of HudBay Minerals in a research note on Wednesday, July 15th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of HudBay Minerals in a report on Tuesday, April 21st. Wall Street Zen raised shares of HudBay Minerals from a “hold” rating to a “buy” rating in a research note on Monday, July 20th. Finally, Scotiabank restated an “outperform” rating on shares of HudBay Minerals in a research report on Thursday, June 25th. Eleven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, HudBay Minerals currently has an average rating of “Moderate Buy” and a consensus target price of $31.33.
HudBay Minerals Trading Down 0.0%
Shares of HudBay Minerals stock opened at $22.35 on Tuesday. The business has a fifty day simple moving average of $24.82 and a 200-day simple moving average of $24.13. HudBay Minerals Inc has a fifty-two week low of $8.93 and a fifty-two week high of $32.15. The firm has a market cap of $9.93 billion, a price-to-earnings ratio of 13.46, a price-to-earnings-growth ratio of 0.34 and a beta of 1.48. 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.06. HudBay Minerals had a return on equity of 10.04% and a net margin of 27.75%.The firm had revenue of $757.30 million for the quarter, compared to analyst estimates of $684.73 million. During the same period in the previous year, the company earned $0.24 earnings per share. HudBay Minerals’s revenue was up 27.3% compared to the same quarter last year. On average, equities analysts forecast that HudBay Minerals Inc will post 1.6 EPS for the current fiscal year.
HudBay Minerals Dividend Announcement
The firm 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 of this dividend was Tuesday, June 9th. This represents a $0.04 annualized dividend and a dividend yield of 0.2%. HudBay Minerals’s payout ratio is currently 1.81%.
About HudBay Minerals
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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