SG Americas Securities LLC Invests $11.12 Million in HudBay Minerals Inc $HBM

SG Americas Securities LLC purchased a new position in HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 532,090 shares of the mining company’s stock, valued at approximately $11,121,000. SG Americas Securities LLC owned about 0.13% of HudBay Minerals at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. FIL Ltd increased its stake in HudBay Minerals by 202.0% during the 4th quarter. FIL Ltd now owns 33,143,172 shares of the mining company’s stock valued at $658,010,000 after purchasing an additional 22,169,339 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new position in shares of HudBay Minerals in the third quarter worth approximately $123,736,000. Mackenzie Financial Corp grew its holdings in shares of HudBay Minerals by 116.1% during the fourth quarter. Mackenzie Financial Corp now owns 10,178,626 shares of the mining company’s stock valued at $202,327,000 after buying an additional 5,468,109 shares during the last quarter. Norges Bank purchased a new stake in shares of HudBay Minerals during the fourth quarter valued at approximately $105,315,000. Finally, Goldman Sachs Group Inc. increased its position in shares of HudBay Minerals by 144.2% during the first quarter. Goldman Sachs Group Inc. now owns 7,281,095 shares of the mining company’s stock valued at $55,264,000 after acquiring an additional 4,299,428 shares in the last quarter. Institutional investors own 57.82% of the company’s stock.

HudBay Minerals Stock Down 0.9%

Shares of HudBay Minerals stock opened at $23.33 on Friday. HudBay Minerals Inc has a twelve month low of $8.93 and a twelve month high of $32.15. The company has a quick ratio of 1.20, a current ratio of 1.36 and a debt-to-equity ratio of 0.14. The company’s 50 day moving average is $25.89 and its 200 day moving average is $23.69. The company has a market cap of $9.27 billion, a price-to-earnings ratio of 14.05, a price-to-earnings-growth ratio of 0.27 and a beta of 1.43.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last posted its earnings results on Friday, May 1st. The mining company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.06. The business had revenue of $757.30 million during the quarter, compared to the consensus estimate of $684.73 million. HudBay Minerals had a net margin of 27.75% and a return on equity of 10.04%. The firm’s revenue was up 27.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.24 EPS. Research analysts anticipate that HudBay Minerals Inc will post 1.65 EPS for the current year.

HudBay Minerals Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Tuesday, June 9th were paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date was Tuesday, June 9th. HudBay Minerals’s payout ratio is currently 1.81%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of HudBay Minerals in a research report on Tuesday, April 21st. Barclays began coverage on HudBay Minerals in a report on Thursday, May 21st. They issued an “overweight” rating and a $30.00 target price for the company. Weiss Ratings cut HudBay Minerals from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, June 8th. Scotiabank reaffirmed an “outperform” rating on shares of HudBay Minerals in a report on Thursday. Finally, Wall Street Zen raised HudBay Minerals from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, HudBay Minerals presently has a consensus rating of “Buy” and an average price target of $27.33.

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.