MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Increases Position in HudBay Minerals Inc $HBM

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) by 10.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,502,218 shares of the mining company’s stock after acquiring an additional 986,278 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in HudBay Minerals were worth $159,111,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GMT Capital Corp purchased a new stake in HudBay Minerals during the 2nd quarter valued at about $337,809,000. Hancock Prospecting Pty Ltd purchased a new position in shares of HudBay Minerals in the second quarter worth about $154,359,000. Arrowstreet Capital Limited Partnership purchased a new position in shares of HudBay Minerals in the third quarter worth about $123,736,000. Picton Mahoney Asset Management acquired a new stake in shares of HudBay Minerals during the second quarter worth about $61,432,000. Finally, Norges Bank acquired a new stake in shares of HudBay Minerals during the second quarter worth about $60,053,000. Hedge funds and other institutional investors own 57.82% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Zacks Research downgraded shares of HudBay Minerals from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 17th. Scotiabank restated an “outperform” rating on shares of HudBay Minerals in a research note on Monday, January 26th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of HudBay Minerals in a report on Thursday, January 15th. Wall Street Zen lowered shares of HudBay Minerals from a “buy” rating to a “hold” rating in a research note on Sunday, March 1st. Finally, Raymond James Financial reissued an “outperform” rating on shares of HudBay Minerals in a report on Wednesday, January 14th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, HudBay Minerals currently has an average rating of “Buy” and an average target price of $26.00.

HudBay Minerals Stock Up 1.9%

Shares of HBM opened at $21.12 on Tuesday. The company has a market capitalization of $8.38 billion, a price-to-earnings ratio of 14.77, a PEG ratio of 0.28 and a beta of 1.27. HudBay Minerals Inc has a 52 week low of $5.95 and a 52 week high of $28.74. The stock’s 50-day moving average price is $24.38 and its 200-day moving average price is $19.07. The company has a quick ratio of 0.78, a current ratio of 0.95 and a debt-to-equity ratio of 0.18.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last announced its quarterly earnings results on Friday, February 20th. The mining company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.18). HudBay Minerals had a net margin of 25.71% and a return on equity of 8.91%. The company had revenue of $732.90 million for the quarter, compared to analysts’ expectations of $730.13 million. During the same quarter in the prior year, the business posted $0.18 earnings per share. The firm’s revenue was up 25.3% compared to the same quarter last year. On average, sell-side analysts predict that HudBay Minerals Inc will post 0.79 EPS for the current year.

HudBay Minerals Dividend Announcement

The company also recently announced a dividend, which will be paid on Friday, March 27th. Stockholders of record on Tuesday, March 10th will be issued a dividend of $0.01 per share. This represents a dividend yield of 9.0%. The ex-dividend date of this dividend is Tuesday, March 10th. HudBay Minerals’s payout ratio is 0.70%.

HudBay Minerals Company 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.