Twin Tree Management LP Buys New Position in HudBay Minerals Inc $HBM

Twin Tree Management LP bought a new stake in HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 24,369 shares of the mining company’s stock, valued at approximately $484,000.

Several other institutional investors have also added to or reduced their stakes in the stock. Waterfront Wealth Inc. boosted its holdings in HudBay Minerals by 1.0% in the fourth quarter. Waterfront Wealth Inc. now owns 39,451 shares of the mining company’s stock valued at $783,000 after acquiring an additional 399 shares during the last quarter. Strong Tower Advisory Services boosted its holdings in HudBay Minerals by 0.6% in the fourth 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 during the last quarter. Savant Capital LLC boosted its holdings in HudBay Minerals by 2.4% in the third quarter. Savant Capital LLC now owns 32,010 shares of the mining company’s stock valued at $485,000 after acquiring an additional 760 shares during the last quarter. Allworth Financial LP boosted its holdings in HudBay Minerals by 107.9% in the third quarter. Allworth Financial LP now owns 1,990 shares of the mining company’s stock valued at $30,000 after acquiring an additional 1,033 shares during the last quarter. Finally, Creative Planning boosted its holdings in HudBay Minerals by 5.4% in the second quarter. Creative Planning now owns 25,067 shares of the mining company’s stock valued at $266,000 after acquiring an additional 1,289 shares during the last quarter. 57.82% of the stock is currently owned by institutional investors.

HudBay Minerals Price Performance

HudBay Minerals stock opened at $25.57 on Wednesday. The stock has a market capitalization of $10.16 billion, a price-to-earnings ratio of 15.41, a PEG ratio of 0.30 and a beta of 1.43. HudBay Minerals Inc has a 52-week low of $8.93 and a 52-week high of $32.15. The stock’s 50 day moving average price is $24.92 and its two-hundred day moving average price is $22.82. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.20 and a current ratio of 1.36.

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 (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.06. The firm had revenue of $757.30 million for the quarter, compared to analysts’ expectations of $684.73 million. HudBay Minerals had a return on equity of 10.04% and a net margin of 27.75%.The company’s revenue for the quarter was up 27.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.24 EPS. On average, equities analysts predict that HudBay Minerals Inc will post 1.66 earnings per share for the current year.

HudBay Minerals Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Tuesday, June 9th 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 0.2%. The ex-dividend date of this dividend is Tuesday, June 9th. HudBay Minerals’s dividend payout ratio is presently 0.60%.

Analyst Ratings Changes

Several analysts recently commented on HBM shares. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of HudBay Minerals in a report on Tuesday, April 21st. Barclays began coverage on HudBay Minerals in a report on Thursday, May 21st. They set an “overweight” rating and a $30.00 price target on the stock. Weiss Ratings cut HudBay Minerals from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday. Citigroup increased their price target on HudBay Minerals from $23.00 to $32.50 and gave the stock a “buy” rating in a report on Wednesday, February 11th. Finally, Zacks Research cut HudBay Minerals from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 17th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $27.33.

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.