Leuthold Group LLC Takes $2.75 Million Position in HudBay Minerals Inc $HBM

Leuthold Group LLC bought a new position in shares of HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 138,738 shares of the mining company’s stock, valued at approximately $2,754,000.

A number of other institutional investors have also made changes to their positions in HBM. Triasima Portfolio Management inc. acquired a new stake in HudBay Minerals in the 3rd quarter valued at $8,057,000. Picton Mahoney Asset Management grew its position in HudBay Minerals by 9.3% in the 3rd quarter. Picton Mahoney Asset Management now owns 6,350,482 shares of the mining company’s stock valued at $96,171,000 after purchasing an additional 537,964 shares during the period. Campbell & CO Investment Adviser LLC acquired a new stake in HudBay Minerals in the 3rd quarter valued at $1,454,000. Bank of Nova Scotia grew its position in HudBay Minerals by 662.0% in the 3rd quarter. Bank of Nova Scotia now owns 4,273,384 shares of the mining company’s stock valued at $64,783,000 after purchasing an additional 3,712,572 shares during the period. Finally, State of Wyoming acquired a new stake in HudBay Minerals in the 3rd quarter valued at $800,000. 57.82% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently commented on HBM shares. National Bank Financial lowered HudBay Minerals from an “outperform” rating to a “sector perform” rating in a research report on Wednesday, January 28th. Weiss Ratings raised HudBay Minerals from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, February 10th. Wall Street Zen raised HudBay Minerals from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Citigroup increased their price target on HudBay Minerals from $23.00 to $32.50 and gave the company a “buy” rating in a research report on Wednesday, February 11th. Finally, Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of HudBay Minerals in a research report on Tuesday, April 21st. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $26.00.

HudBay Minerals Stock Down 0.0%

HBM stock opened at $24.95 on Monday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.20 and a current ratio of 1.36. The company has a market capitalization of $9.91 billion, a price-to-earnings ratio of 15.03, a PEG ratio of 0.29 and a beta of 1.37. HudBay Minerals Inc has a fifty-two week low of $7.94 and a fifty-two week high of $28.74. The stock has a fifty day moving average of $22.80 and a 200-day moving average of $21.51.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last posted its quarterly earnings results on Friday, May 1st. The mining company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.06. The company had revenue of $757.30 million during the quarter, compared to the consensus estimate of $684.73 million. HudBay Minerals had a return on equity of 10.04% and a net margin of 27.75%.The firm’s quarterly revenue was up 27.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.24 EPS. As a group, equities research analysts predict that HudBay Minerals Inc will post 1.65 earnings per share for the current year.

HudBay Minerals Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Tuesday, June 9th will be paid a dividend of $0.01 per share. The ex-dividend date is Tuesday, June 9th. This represents a $0.04 annualized dividend and a dividend yield of 0.2%. HudBay Minerals’s dividend payout ratio is presently 0.60%.

HudBay Minerals 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.