Donald Smith & CO. Inc. bought a new stake in HudBay Minerals Inc (NYSE:HBM – Free Report) (TSE:HBM) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 158,759 shares of the mining company’s stock, valued at approximately $3,748,000.
Other institutional investors have also recently added to or reduced their stakes in the company. First Trust Advisors LP grew its holdings in shares of HudBay Minerals by 35.3% during the 1st quarter. First Trust Advisors LP now owns 229,948 shares of the mining company’s stock worth $4,814,000 after purchasing an additional 60,025 shares during the period. Bank of America Corp DE raised its holdings in HudBay Minerals by 53.3% in the first quarter. Bank of America Corp DE now owns 1,883,698 shares of the mining company’s stock valued at $39,369,000 after buying an additional 655,308 shares during the period. Artemis Investment Management LLP raised its holdings in HudBay Minerals by 15.6% in the fourth quarter. Artemis Investment Management LLP now owns 5,709,453 shares of the mining company’s stock valued at $113,355,000 after buying an additional 770,172 shares during the period. Goehring & Rozencwajg Associates LLC lifted its position in HudBay Minerals by 6.6% during the fourth quarter. Goehring & Rozencwajg Associates LLC now owns 824,951 shares of the mining company’s stock valued at $16,380,000 after buying an additional 51,387 shares in the last quarter. Finally, Maxi Investments CY Ltd acquired a new position in HudBay Minerals during the fourth quarter valued at approximately $993,000. Hedge funds and other institutional investors own 57.82% of the company’s stock.
Analyst Ratings Changes
HBM has been the subject of several research reports. Barclays boosted their price objective on shares of HudBay Minerals from $30.00 to $32.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 15th. Weiss Ratings lowered shares of HudBay Minerals from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, August 13th. Citigroup reaffirmed a “positive” rating on shares of HudBay Minerals in a research report on Wednesday, July 15th. Jefferies Financial Group reaffirmed a “buy” rating on shares of HudBay Minerals in a research report on Monday, July 6th. Finally, Scotiabank reiterated an “outperform” rating on shares of HudBay Minerals in a report on Thursday, July 30th. Eleven analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $31.33.
HudBay Minerals Stock Performance
HudBay Minerals stock opened at $30.08 on Friday. The firm has a market capitalization of $13.36 billion, a PE ratio of 17.69, a price-to-earnings-growth ratio of 0.43 and a beta of 1.48. HudBay Minerals Inc has a one year low of $11.21 and a one year high of $32.15. The stock’s 50 day moving average price is $24.45 and its 200 day moving average price is $24.42. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.93 and a current ratio of 2.24.
HudBay Minerals (NYSE:HBM – Get Free Report) (TSE:HBM) last issued its quarterly earnings data on Wednesday, July 29th. The mining company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.02. HudBay Minerals had a net margin of 27.48% and a return on equity of 9.47%. The company had revenue of $631.30 million during the quarter, compared to the consensus estimate of $632.43 million. During the same quarter last year, the company earned $0.19 earnings per share. HudBay Minerals’s revenue for the quarter was up 17.7% on a year-over-year basis. As a group, sell-side analysts expect that HudBay Minerals Inc will post 1.58 EPS for the current fiscal year.
HudBay Minerals Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Tuesday, September 8th will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date of this dividend is Tuesday, September 8th. HudBay Minerals’s payout ratio is presently 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.
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