Stratos Wealth Advisors LLC Makes New Investment in HudBay Minerals Inc $HBM

Stratos Wealth Advisors LLC bought a new position in shares of HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 21,185 shares of the mining company’s stock, valued at approximately $225,000.

Other hedge funds also recently added to or reduced their stakes in the company. Sumitomo Mitsui Trust Group Inc. lifted its holdings in HudBay Minerals by 142.8% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 100,303 shares of the mining company’s stock worth $761,000 after buying an additional 58,999 shares in the last quarter. Ausbil Investment Management Ltd raised its holdings in shares of HudBay Minerals by 71.4% in the 2nd quarter. Ausbil Investment Management Ltd now owns 60,000 shares of the mining company’s stock valued at $635,000 after purchasing an additional 25,000 shares in the last quarter. Millennium Management LLC raised its holdings in shares of HudBay Minerals by 298.5% in the 1st quarter. Millennium Management LLC now owns 6,115,053 shares of the mining company’s stock valued at $46,411,000 after purchasing an additional 4,580,718 shares in the last quarter. Yaupon Capital Management LP raised its holdings in shares of HudBay Minerals by 21.9% in the 1st quarter. Yaupon Capital Management LP now owns 1,777,347 shares of the mining company’s stock valued at $13,490,000 after purchasing an additional 318,991 shares in the last quarter. Finally, Anson Funds Management LP acquired a new stake in shares of HudBay Minerals in the 1st quarter valued at $759,000. 57.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on HBM shares. Weiss Ratings restated a “buy (b-)” rating on shares of HudBay Minerals in a report on Wednesday, October 8th. The Goldman Sachs Group started coverage on shares of HudBay Minerals in a report on Monday, September 8th. They issued a “buy” rating on the stock. Wall Street Zen upgraded shares of HudBay Minerals from a “buy” rating to a “strong-buy” rating in a report on Wednesday, September 10th. CIBC restated an “outperform” rating on shares of HudBay Minerals in a report on Tuesday, July 15th. Finally, Veritas upgraded shares of HudBay Minerals to a “strong-buy” rating in a report on Monday, July 7th. Three research analysts have rated the stock with a Strong Buy rating and ten have assigned a Buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $19.50.

HudBay Minerals Price Performance

Shares of NYSE:HBM opened at $16.43 on Tuesday. The company’s fifty day moving average price is $13.72 and its 200 day moving average price is $10.58. HudBay Minerals Inc has a 12 month low of $5.95 and a 12 month high of $17.73. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.03 and a quick ratio of 0.86. The firm has a market capitalization of $6.51 billion, a P/E ratio of 22.50 and a beta of 1.55.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last announced its quarterly earnings results on Wednesday, August 13th. The mining company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.11 by $0.08. HudBay Minerals had a net margin of 13.13% and a return on equity of 10.73%. The firm had revenue of $536.40 million for the quarter, compared to analyst estimates of $558.21 million. The firm’s quarterly revenue was up 26.1% compared to the same quarter last year. As a group, sell-side analysts predict that HudBay Minerals Inc will post 0.79 earnings per share for the current fiscal year.

HudBay Minerals Increases Dividend

The company also recently announced a semi-annual dividend, which was paid on Friday, September 19th. Stockholders of record on Tuesday, September 2nd were issued a $0.0073 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This is a positive change from HudBay Minerals’s previous semi-annual dividend of $0.01. This represents a dividend yield of 17.0%. HudBay Minerals’s payout ratio is presently 1.37%.

About HudBay Minerals

Hudbay Minerals Inc, a diversified mining company, focuses on the exploration, development, operation, and optimization of properties in North and South America. It produces copper concentrates containing gold, silver, and molybdenum; gold concentrates containing zinc; zinc concentrates; molybdenum concentrates; and silver/gold doré.