Vaughan Nelson Investment Management L.P. Takes $24.77 Million Position in HudBay Minerals Inc $HBM

Vaughan Nelson Investment Management L.P. acquired a new stake in HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,185,045 shares of the mining company’s stock, valued at approximately $24,767,000.

Other hedge funds also recently added to or reduced their stakes in the company. Waterfront Wealth Inc. raised its position 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 purchasing an additional 399 shares during the period. Strong Tower Advisory Services grew its holdings in shares of HudBay Minerals by 0.6% during the 4th quarter. Strong Tower Advisory Services now owns 94,762 shares of the mining company’s stock worth $1,881,000 after purchasing an additional 587 shares during the period. Vontobel Holding Ltd. grew its holdings in shares of HudBay Minerals by 0.6% during the 4th quarter. Vontobel Holding Ltd. now owns 126,090 shares of the mining company’s stock worth $2,503,000 after purchasing an additional 738 shares during the period. Rockefeller Capital Management L.P. grew its holdings in shares of HudBay Minerals by 25.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 4,933 shares of the mining company’s stock worth $98,000 after purchasing an additional 986 shares during the period. Finally, Allworth Financial LP increased its position in shares of HudBay Minerals by 107.9% during the 3rd quarter. Allworth Financial LP now owns 1,990 shares of the mining company’s stock worth $30,000 after purchasing an additional 1,033 shares during the last quarter. 57.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

HBM has been the topic of several research analyst reports. Weiss Ratings lowered shares of HudBay Minerals from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, June 8th. Wall Street Zen raised shares of HudBay Minerals from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of HudBay Minerals in a research report on Tuesday, April 21st. Finally, Barclays started coverage on shares of HudBay Minerals in a research note on Thursday, May 21st. They issued an “overweight” rating and a $30.00 price target on the stock. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $27.33.

HudBay Minerals Stock Performance

Shares of HBM stock opened at $27.89 on Tuesday. The firm has a 50 day moving average of $25.96 and a two-hundred day moving average of $23.55. The stock has a market capitalization of $11.08 billion, a PE ratio of 16.80, a P/E/G ratio of 0.32 and a beta of 1.43. 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 Inc has a 52 week low of $8.93 and a 52 week high of $32.15.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last posted its quarterly earnings data on Friday, May 1st. The mining company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.06. The business had revenue of $757.30 million for the quarter, compared to analyst estimates 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 was up 27.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.24 earnings per share. On average, research analysts predict that HudBay Minerals Inc will post 1.66 EPS for the current fiscal year.

HudBay Minerals Dividend Announcement

The business also recently disclosed 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. The ex-dividend date of this dividend is Tuesday, June 9th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.1%. 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.