Tower Research Capital LLC TRC Raises Stake in Hudbay Minerals Inc (HBM)
Tower Research Capital LLC TRC increased its position in Hudbay Minerals Inc (NYSE:HBM) (TSE:HBM) by 56.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 92,142 shares of the mining company’s stock after buying an additional 33,353 shares during the period. Tower Research Capital LLC TRC’s holdings in Hudbay Minerals were worth $514,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Neuberger Berman Group LLC grew its stake in shares of Hudbay Minerals by 78.7% in the 1st quarter. Neuberger Berman Group LLC now owns 19,794 shares of the mining company’s stock valued at $140,000 after buying an additional 8,718 shares during the period. Regal Investment Advisors LLC acquired a new stake in shares of Hudbay Minerals in the 2nd quarter valued at about $139,000. Quantbot Technologies LP acquired a new stake in shares of Hudbay Minerals in the 1st quarter valued at about $235,000. BlackRock Inc. grew its stake in shares of Hudbay Minerals by 131.1% in the 2nd quarter. BlackRock Inc. now owns 35,456 shares of the mining company’s stock valued at $199,000 after buying an additional 20,113 shares during the period. Finally, Quantitative Systematic Strategies LLC acquired a new stake in shares of Hudbay Minerals in the 2nd quarter valued at about $228,000. Institutional investors own 58.07% of the company’s stock.
Several analysts have recently commented on HBM shares. ValuEngine upgraded Hudbay Minerals from a “strong sell” rating to a “sell” rating in a research note on Tuesday, August 7th. Zacks Investment Research downgraded Hudbay Minerals from a “hold” rating to a “sell” rating in a research note on Thursday, July 5th. Credit Suisse Group restated a “neutral” rating on shares of Hudbay Minerals in a research note on Monday, September 10th. Scotiabank downgraded Hudbay Minerals from a “focus list” rating to an “outperform” rating in a research note on Monday, June 25th. Finally, Bank of America started coverage on Hudbay Minerals in a research note on Tuesday, August 14th. They set a “neutral” rating and a $6.00 price target for the company. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $9.25.
Hudbay Minerals (NYSE:HBM) (TSE:HBM) last released its quarterly earnings results on Tuesday, July 31st. The mining company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.04). The company had revenue of $371.29 million for the quarter, compared to analyst estimates of $386.00 million. Hudbay Minerals had a net margin of 13.40% and a return on equity of 8.66%. analysts forecast that Hudbay Minerals Inc will post 0.34 EPS for the current year.
The business also recently declared a semiannual dividend, which will be paid on Friday, September 28th. Shareholders of record on Friday, September 7th will be paid a dividend of $0.0077 per share. The ex-dividend date is Thursday, September 6th. This represents a yield of 0.31%. Hudbay Minerals’s dividend payout ratio (DPR) is currently 3.51%.
Hudbay Minerals Company Profile
Hudbay Minerals Inc, an integrated mining company, together with its subsidiaries, focuses on the discovery, production, and marketing of base and precious metals in North and South America. It produces copper concentrates containing copper, gold, and silver; and zinc metal. The company owns four polymetallic mines, four ore concentrators, and a zinc production facility in northern Manitoba and Saskatchewan, Canada, as well as in Cusco, Peru; and a copper project in Arizona, the United States.
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