Van ECK Associates Corp Boosts Holdings in HudBay Minerals Inc $HBM

Van ECK Associates Corp increased its stake in shares of HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) by 299.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,037,209 shares of the mining company’s stock after acquiring an additional 777,733 shares during the quarter. Van ECK Associates Corp owned about 0.26% of HudBay Minerals worth $15,721,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of HBM. Global Retirement Partners LLC purchased a new position in shares of HudBay Minerals during the third quarter worth about $45,000. Banque Cantonale Vaudoise lifted its holdings in shares of HudBay Minerals by 513.5% in the 3rd 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 last quarter. Jones Financial Companies Lllp boosted its position in shares of HudBay Minerals by 131.6% in the 1st quarter. Jones Financial Companies Lllp now owns 6,570 shares of the mining company’s stock valued at $50,000 after purchasing an additional 3,733 shares during the period. Verus Capital Partners LLC acquired a new stake in shares of HudBay Minerals in the 3rd quarter valued at about $152,000. Finally, Semanteon Capital Management LP purchased a new position in HudBay Minerals during the 3rd quarter worth approximately $165,000. 57.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on HBM shares. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of HudBay Minerals in a research report on Thursday, January 15th. Royal Bank Of Canada reissued an “outperform” rating on shares of HudBay Minerals in a report on Monday, November 17th. Scotiabank reaffirmed an “outperform” rating on shares of HudBay Minerals in a report on Monday, January 26th. Citigroup upped their price target on shares of HudBay Minerals from $23.00 to $32.50 and gave the company a “buy” rating in a research report on Wednesday, February 11th. Finally, National Bank Financial cut shares of HudBay Minerals from an “outperform” rating to a “sector perform” rating in a research note on Wednesday, January 28th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $26.00.

HudBay Minerals Stock Performance

Shares of HudBay Minerals stock traded down $0.86 during trading hours on Friday, hitting $20.99. 1,105,492 shares of the company were exchanged, compared to its average volume of 6,399,895. HudBay Minerals Inc has a 1 year low of $5.95 and a 1 year high of $28.74. The company has a current ratio of 0.95, a quick ratio of 0.78 and a debt-to-equity ratio of 0.18. The business has a 50-day moving average of $24.37 and a 200-day moving average of $18.84. The stock has a market capitalization of $8.33 billion, a price-to-earnings ratio of 14.66, a P/E/G ratio of 0.31 and a beta of 1.27.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last posted its quarterly earnings data on Friday, February 20th. The mining company reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.18). The firm had revenue of $732.90 million during the quarter, compared to analysts’ expectations of $730.13 million. HudBay Minerals had a net margin of 25.71% and a return on equity of 8.91%. The business’s quarterly revenue was up 25.3% on a year-over-year basis. During the same quarter last year, the business earned $0.18 earnings per share. As a group, analysts expect that HudBay Minerals Inc will post 0.79 EPS for the current fiscal year.

HudBay Minerals Dividend Announcement

The company also recently announced a dividend, which will be paid on Friday, March 27th. Stockholders of record on Tuesday, March 10th will be issued a $0.01 dividend. The ex-dividend date of this dividend is Tuesday, March 10th. This represents a dividend yield of 9.0%. HudBay Minerals’s payout ratio is presently 0.70%.

About HudBay Minerals

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.