HudBay Minerals Inc $HBM is Orchard Capital Management LLC’s 2nd Largest Position

Orchard Capital Management LLC grew its stake in HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) by 6.5% during the third quarter, Holdings Channel.com reports. The fund owned 437,527 shares of the mining company’s stock after purchasing an additional 26,704 shares during the quarter. HudBay Minerals makes up 5.7% of Orchard Capital Management LLC’s investment portfolio, making the stock its 2nd biggest position. Orchard Capital Management LLC’s holdings in HudBay Minerals were worth $6,633,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Global Retirement Partners LLC purchased a new stake in shares of HudBay Minerals in the third quarter valued at approximately $45,000. Jones Financial Companies Lllp increased its holdings in HudBay Minerals by 131.6% during the 1st quarter. Jones Financial Companies Lllp now owns 6,570 shares of the mining company’s stock worth $50,000 after purchasing an additional 3,733 shares during the period. Y Intercept Hong Kong Ltd bought a new stake in HudBay Minerals during the 2nd quarter valued at $116,000. Verus Capital Partners LLC purchased a new stake in shares of HudBay Minerals in the 3rd quarter worth $152,000. Finally, Semanteon Capital Management LP purchased a new stake in shares of HudBay Minerals in the 3rd quarter worth $165,000. Institutional investors own 57.82% of the company’s stock.

HudBay Minerals Stock Performance

Shares of HudBay Minerals stock opened at $23.02 on Friday. The company has a market capitalization of $9.14 billion, a PE ratio of 16.10, a P/E/G ratio of 0.34 and a beta of 1.27. The company has a 50-day simple moving average of $24.11 and a two-hundred day simple moving average of $18.45. HudBay Minerals Inc has a one year low of $5.95 and a one year high of $28.74. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.78 and a current ratio of 0.95.

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 for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.18). The firm had revenue of $732.90 million during the quarter, compared to the consensus estimate of $730.13 million. HudBay Minerals had a net margin of 25.71% and a return on equity of 8.91%. The firm’s quarterly revenue was up 25.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.18 earnings per share. Research analysts expect that HudBay Minerals Inc will post 0.79 EPS for the current fiscal year.

HudBay Minerals Announces Dividend

The company also recently declared a dividend, which will be paid on Friday, March 27th. Shareholders of record on Tuesday, March 10th will be issued a $0.01 dividend. This represents a yield of 8.0%. The ex-dividend date of this dividend is Tuesday, March 10th. HudBay Minerals’s payout ratio is currently 0.70%.

Analysts Set New Price Targets

Several equities analysts have recently commented on HBM shares. Raymond James Financial restated an “outperform” rating on shares of HudBay Minerals in a research note on Wednesday, January 14th. Citigroup increased their target price on shares of HudBay Minerals from $23.00 to $32.50 and gave the stock a “buy” rating in a report on Wednesday, February 11th. Jefferies Financial Group restated a “buy” rating on shares of HudBay Minerals in a report on Sunday, December 7th. National Bank Financial cut shares of HudBay Minerals from an “outperform” rating to a “sector perform” rating in a research report on Wednesday, January 28th. Finally, Weiss Ratings raised shares of HudBay Minerals from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, February 10th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $26.00.

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.