K.J. Harrison & Partners Inc Purchases New Stake in HudBay Minerals Inc $HBM

K.J. Harrison & Partners Inc purchased a new position in shares of HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) in the second quarter, HoldingsChannel.com reports. The fund purchased 151,350 shares of the mining company’s stock, valued at approximately $3,567,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Jones Financial Companies Lllp boosted its position in HudBay Minerals by 131.6% in 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. grew its position in shares of HudBay Minerals by 144.2% in 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 buying an additional 4,299,428 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in HudBay Minerals by 6.8% in the first 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 increased its position in shares of HudBay Minerals by 7.4% during the second quarter. Geode Capital Management LLC now owns 221,685 shares of the mining company’s stock worth $2,363,000 after buying an additional 15,235 shares during the period. Finally, Creative Planning grew its holdings in 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 acquiring an additional 1,289 shares during the period. 57.82% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of HudBay Minerals in a report on Tuesday, April 21st. Scotiabank reiterated an “outperform” rating on shares of HudBay Minerals in a report on Thursday, July 30th. Weiss Ratings downgraded shares of HudBay Minerals from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday. Bank of America decreased their target price on HudBay Minerals from $33.50 to $29.50 and set a “buy” rating for the company in a research report on Thursday, July 9th. Finally, Wall Street Zen lowered shares of HudBay Minerals from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Eleven research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.33.

HudBay Minerals Trading Up 2.7%

Shares of HudBay Minerals stock opened at $27.42 on Tuesday. The company’s 50-day moving average price is $24.30 and its 200-day moving average price is $24.35. The company has a current ratio of 2.24, a quick ratio of 1.93 and a debt-to-equity ratio of 0.17. HudBay Minerals Inc has a 12-month low of $10.72 and a 12-month high of $32.15. The company has a market cap of $12.18 billion, a price-to-earnings ratio of 16.13, a PEG ratio of 0.41 and a beta of 1.48.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last issued its quarterly earnings results on Wednesday, July 29th. The mining company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.02. The firm had revenue of $631.30 million during the quarter, compared to the consensus estimate of $632.43 million. HudBay Minerals had a return on equity of 9.47% and a net margin of 27.48%.The company’s revenue for the quarter was up 17.7% on a year-over-year basis. During the same quarter last year, the company posted $0.19 EPS. On average, equities analysts expect that HudBay Minerals Inc will post 1.58 earnings per share for the current fiscal year.

HudBay Minerals Announces Dividend

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

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.