Cinctive Capital Management LP Purchases New Position in HudBay Minerals Inc $HBM

Cinctive Capital Management LP purchased a new stake in HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) during the 3rd quarter, HoldingsChannel.com reports. The fund purchased 98,356 shares of the mining company’s stock, valued at approximately $1,490,000.

Other hedge funds have also recently bought and sold shares of the company. Waterfront Wealth Inc. boosted its holdings in shares of HudBay Minerals by 2.0% during the third quarter. Waterfront Wealth Inc. now owns 39,052 shares of the mining company’s stock worth $588,000 after acquiring an additional 756 shares during the period. Savant Capital LLC increased its stake in shares of HudBay Minerals by 2.4% during the third quarter. Savant Capital LLC now owns 32,010 shares of the mining company’s stock worth $485,000 after purchasing an additional 760 shares during the period. Creative Planning increased its stake in shares of HudBay Minerals by 5.4% during the second quarter. Creative Planning now owns 25,067 shares of the mining company’s stock worth $266,000 after purchasing an additional 1,289 shares during the period. Strong Tower Advisory Services lifted its holdings in HudBay Minerals by 2.4% during the 3rd quarter. Strong Tower Advisory Services now owns 94,175 shares of the mining company’s stock worth $1,428,000 after purchasing an additional 2,182 shares during the last quarter. Finally, Banque Cantonale Vaudoise lifted its holdings in HudBay Minerals by 513.5% during the 3rd quarter. Banque Cantonale Vaudoise now owns 3,172 shares of the mining company’s stock worth $48,000 after purchasing an additional 2,655 shares during the last quarter. 57.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on HBM. Jefferies Financial Group reaffirmed a “buy” rating on shares of HudBay Minerals in a report on Sunday, December 7th. Weiss Ratings raised shares of HudBay Minerals from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, February 10th. UBS Group initiated coverage on shares of HudBay Minerals in a research note on Thursday, January 8th. They issued a “buy” rating on the stock. Raymond James Financial reaffirmed an “outperform” rating on shares of HudBay Minerals in a research report on Wednesday, January 14th. Finally, National Bank Financial cut shares of HudBay Minerals from an “outperform” rating to a “sector perform” rating in a research note on Wednesday, January 28th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, HudBay Minerals presently has a consensus rating of “Buy” and a consensus price target of $26.00.

HudBay Minerals Price Performance

HudBay Minerals stock opened at $21.12 on Tuesday. The firm has a market cap of $8.38 billion, a PE ratio of 14.77, a price-to-earnings-growth ratio of 0.28 and a beta of 1.27. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.95 and a quick ratio of 0.78. The stock’s fifty day moving average price is $24.38 and its two-hundred day moving average price is $19.07. HudBay Minerals Inc has a one year low of $5.95 and a one year high of $28.74.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last released its earnings results on Friday, February 20th. The mining company reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.18). The company had revenue of $732.90 million for the quarter, compared to the consensus estimate of $730.13 million. HudBay Minerals had a net margin of 25.71% and a return on equity of 8.91%. The business’s revenue was up 25.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.18 earnings per share. As a group, research analysts expect that HudBay Minerals Inc will post 0.79 EPS for the current fiscal year.

HudBay Minerals Dividend Announcement

The business also recently declared a dividend, which will be paid on Friday, March 27th. Investors of record on Tuesday, March 10th will be paid a $0.01 dividend. This represents a yield of 9.0%. The ex-dividend date of this dividend is Tuesday, March 10th. HudBay Minerals’s payout ratio is 0.70%.

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.