HighTower Advisors LLC Purchases 24,451 Shares of HudBay Minerals Inc $HBM

HighTower Advisors LLC grew its holdings in shares of HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) by 10.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 258,606 shares of the mining company’s stock after acquiring an additional 24,451 shares during the period. HighTower Advisors LLC owned 0.07% of HudBay Minerals worth $3,920,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in HBM. Waterfront Wealth Inc. grew its stake in 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 purchasing an additional 756 shares during the period. Savant Capital LLC boosted its holdings in shares of HudBay Minerals by 2.4% during the 3rd quarter. Savant Capital LLC now owns 32,010 shares of the mining company’s stock worth $485,000 after buying an additional 760 shares in the last quarter. Creative Planning grew its position in shares of HudBay Minerals by 5.4% during the 2nd quarter. Creative Planning now owns 25,067 shares of the mining company’s stock worth $266,000 after buying an additional 1,289 shares during the period. Strong Tower Advisory Services grew its position in shares of 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 buying an additional 2,182 shares during the period. Finally, Global Retirement Partners LLC bought a new stake in shares of HudBay Minerals in the 3rd quarter valued at $45,000. 57.82% of the stock is owned by institutional investors and hedge funds.

HudBay Minerals Trading Up 6.7%

HBM opened at $27.79 on Wednesday. HudBay Minerals Inc has a fifty-two week low of $5.95 and a fifty-two week high of $28.74. The firm has a market capitalization of $11.03 billion, a PE ratio of 19.44, a P/E/G ratio of 0.66 and a beta of 1.33. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.97 and a quick ratio of 0.76. The company’s 50-day moving average is $23.17 and its 200 day moving average is $17.79.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last released its quarterly earnings results on Friday, February 20th. The mining company reported $0.22 earnings per share (EPS) 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 analyst estimates of $730.13 million. HudBay Minerals had a net margin of 25.71% and a return on equity of 9.16%. HudBay Minerals’s revenue for the quarter was up 25.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.18 EPS. As a group, research analysts predict that HudBay Minerals Inc will post 0.79 earnings per share 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 issued a dividend of $0.01 per share. The ex-dividend date is Tuesday, March 10th. This represents a yield of 8.0%. HudBay Minerals’s dividend payout ratio is 0.70%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on HBM. UBS Group started coverage on shares of HudBay Minerals in a research note on Thursday, January 8th. They set a “buy” rating on the stock. Zacks Research cut shares of HudBay Minerals from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 17th. Weiss Ratings upgraded HudBay Minerals from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, February 10th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of HudBay Minerals in a research note on Monday, November 17th. Finally, Jefferies Financial Group reiterated a “buy” rating on shares of HudBay Minerals in a report on Sunday, December 7th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, HudBay Minerals presently has an average rating of “Buy” and a consensus price target of $26.00.

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.