Van ECK Associates Corp Has $74.89 Million Holdings in HudBay Minerals Inc $HBM

Van ECK Associates Corp increased its holdings in HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) by 68.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,172,033 shares of the mining company’s stock after purchasing an additional 1,294,482 shares during the period. Van ECK Associates Corp’s holdings in HudBay Minerals were worth $74,895,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Jones Financial Companies Lllp raised its holdings in HudBay Minerals by 131.6% during the first quarter. Jones Financial Companies Lllp now owns 6,570 shares of the mining company’s stock valued at $50,000 after buying an additional 3,733 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of HudBay Minerals by 144.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 7,281,095 shares of the mining company’s stock valued at $55,264,000 after acquiring an additional 4,299,428 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of HudBay Minerals by 6.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 439,687 shares of the mining company’s stock valued at $3,337,000 after acquiring an additional 27,944 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of HudBay Minerals by 7.4% in the 2nd quarter. Geode Capital Management LLC now owns 221,685 shares of the mining company’s stock valued at $2,363,000 after acquiring an additional 15,235 shares in the last quarter. Finally, Creative Planning raised its stake in shares of HudBay Minerals by 5.4% in the 2nd 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 in the last quarter. 57.82% of the stock is owned by institutional investors and hedge funds.

HudBay Minerals Stock Down 3.2%

HBM opened at $29.38 on Friday. HudBay Minerals Inc has a 1-year low of $11.62 and a 1-year high of $32.15. The company has a current ratio of 2.24, a quick ratio of 1.93 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $13.05 billion, a price-to-earnings ratio of 17.28, a P/E/G ratio of 0.45 and a beta of 1.48. The business has a 50 day moving average of $24.63 and a 200-day moving average of $24.60.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last announced its quarterly earnings data on Wednesday, July 29th. The mining company reported $0.28 earnings per share (EPS) for the quarter, topping 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 business had revenue of $631.30 million for the quarter, compared to the consensus estimate of $632.43 million. During the same quarter last year, the company posted $0.19 earnings per share. HudBay Minerals’s quarterly revenue was up 17.7% on a year-over-year basis. As a group, sell-side analysts anticipate that HudBay Minerals Inc will post 1.58 earnings per share for the current year.

HudBay Minerals Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Tuesday, September 8th will be issued a dividend of $0.01 per share. The ex-dividend date is Tuesday, September 8th. This represents a $0.04 annualized dividend and a dividend yield of 0.1%. HudBay Minerals’s payout ratio is presently 1.76%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on HBM shares. Scotiabank reiterated an “outperform” rating on shares of HudBay Minerals in a report on Thursday, July 30th. Wall Street Zen cut shares of HudBay Minerals from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Citigroup reiterated a “positive” rating on shares of HudBay Minerals in a research note on Wednesday, July 15th. Barclays lifted their target price on shares of HudBay Minerals from $30.00 to $32.00 and gave the stock an “overweight” rating in a report on Wednesday, July 15th. Finally, Jefferies Financial Group restated a “buy” rating on shares of HudBay Minerals in a report on Monday, July 6th. Eleven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, HudBay Minerals has a consensus rating of “Moderate Buy” and a consensus price target of $31.33.

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.