Picton Mahoney Asset Management Acquires 537,964 Shares of HudBay Minerals Inc $HBM

Picton Mahoney Asset Management grew its holdings in shares of HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) by 9.3% in the 3rd quarter, Holdings Channel.com reports. The fund owned 6,350,482 shares of the mining company’s stock after purchasing an additional 537,964 shares during the period. HudBay Minerals makes up about 0.9% of Picton Mahoney Asset Management’s holdings, making the stock its 19th biggest holding. Picton Mahoney Asset Management’s holdings in HudBay Minerals were worth $96,171,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. 111 Capital bought a new stake in shares of HudBay Minerals in the third quarter worth $405,000. American Century Companies Inc. lifted its holdings in HudBay Minerals by 32.2% during the 3rd quarter. American Century Companies Inc. now owns 5,642,273 shares of the mining company’s stock worth $85,463,000 after buying an additional 1,373,204 shares during the period. K.J. Harrison & Partners Inc bought a new stake in shares of HudBay Minerals in the 3rd quarter valued at about $1,683,000. US Bancorp DE grew its position in shares of HudBay Minerals by 29.3% in the 3rd quarter. US Bancorp DE now owns 30,934 shares of the mining company’s stock valued at $469,000 after buying an additional 7,003 shares during the last quarter. Finally, TD Asset Management Inc increased its stake in shares of HudBay Minerals by 77.5% in the third quarter. TD Asset Management Inc now owns 2,116,782 shares of the mining company’s stock valued at $32,070,000 after buying an additional 924,215 shares during the period. Institutional investors and hedge funds own 57.82% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on HBM shares. Raymond James Financial reaffirmed an “outperform” rating on shares of HudBay Minerals in a research note on Wednesday, January 14th. National Bank Financial lowered shares of HudBay Minerals from an “outperform” rating to a “sector perform” rating in a report on Wednesday, January 28th. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of HudBay Minerals in a research report on Thursday, January 15th. UBS Group started coverage on shares of HudBay Minerals in a research note on Thursday, January 8th. They issued a “buy” rating on the stock. Finally, Weiss Ratings upgraded shares of HudBay Minerals from a “hold (c+)” rating to a “buy (b-)” rating in a research 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 assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $26.00.

HudBay Minerals Price Performance

Shares of HBM opened at $24.93 on Wednesday. HudBay Minerals Inc has a 52-week low of $5.95 and a 52-week 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. The business’s 50 day moving average price is $23.95 and its two-hundred day moving average price is $18.37. The firm has a market cap of $9.89 billion, a PE ratio of 17.43, a price-to-earnings-growth ratio of 0.36 and a beta of 1.27.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last announced its quarterly earnings data on Friday, February 20th. The mining company reported $0.22 EPS for the quarter, missing the consensus estimate 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 return on equity of 8.91% and a net margin of 25.71%.The business’s quarterly revenue was up 25.3% compared to the same quarter last year. During the same period last year, the business earned $0.18 EPS. On average, equities analysts anticipate that HudBay Minerals Inc will post 0.79 EPS for the current year.

HudBay Minerals Announces Dividend

The business 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 is Tuesday, March 10th. HudBay Minerals’s dividend payout ratio (DPR) is presently 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.