SIR Capital Management L.P. Purchases 295,717 Shares of HudBay Minerals Inc $HBM

SIR Capital Management L.P. raised its position in shares of HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) by 65.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 744,517 shares of the mining company’s stock after purchasing an additional 295,717 shares during the period. HudBay Minerals accounts for approximately 1.6% of SIR Capital Management L.P.’s portfolio, making the stock its 21st largest holding. SIR Capital Management L.P. owned 0.19% of HudBay Minerals worth $14,779,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Allworth Financial LP grew its holdings in HudBay Minerals by 107.9% during the third quarter. Allworth Financial LP now owns 1,990 shares of the mining company’s stock valued at $30,000 after purchasing an additional 1,033 shares during the period. Quarry LP bought a new position in HudBay Minerals during the third quarter valued at $38,000. IFP Advisors Inc bought a new position in HudBay Minerals during the third quarter valued at $45,000. Banque Cantonale Vaudoise grew its holdings in HudBay Minerals by 513.5% during the third quarter. Banque Cantonale Vaudoise now owns 3,172 shares of the mining company’s stock valued at $48,000 after purchasing an additional 2,655 shares during the period. Finally, Kelleher Financial Advisors bought a new position in shares of HudBay Minerals in the third quarter worth $67,000. 57.82% of the stock is owned by institutional investors.

HudBay Minerals Price Performance

HudBay Minerals stock opened at $27.79 on Friday. HudBay Minerals Inc has a one year low of $8.93 and a one year high of $32.15. The business has a fifty day moving average price of $25.26 and a 200-day moving average price of $23.01. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.36 and a quick ratio of 1.20. The firm has a market capitalization of $11.04 billion, a P/E ratio of 16.74, a PEG ratio of 0.31 and a beta of 1.43.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last issued its quarterly earnings data on Friday, May 1st. The mining company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.06. HudBay Minerals had a return on equity of 10.04% and a net margin of 27.75%.The company had revenue of $757.30 million for the quarter, compared to the consensus estimate of $684.73 million. During the same quarter last year, the business posted $0.24 earnings per share. The firm’s revenue was up 27.3% compared to the same quarter last year. As a group, equities research analysts forecast that HudBay Minerals Inc will post 1.66 EPS for the current year.

HudBay Minerals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Tuesday, June 9th will be given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date is Tuesday, June 9th. HudBay Minerals’s dividend payout ratio (DPR) is 1.81%.

Analyst Ratings Changes

A number of equities analysts have recently commented on HBM shares. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of HudBay Minerals in a report on Tuesday, April 21st. Weiss Ratings lowered HudBay Minerals from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday. Zacks Research lowered HudBay Minerals from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 17th. Barclays started coverage on HudBay Minerals in a report on Thursday, May 21st. They issued an “overweight” rating and a $30.00 price target for the company. Finally, Wall Street Zen raised HudBay Minerals from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average 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.