HudBay Minerals Inc $HBM Stake Boosted by TD Asset Management Inc

TD Asset Management Inc increased its stake in HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) by 77.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,116,782 shares of the mining company’s stock after purchasing an additional 924,215 shares during the period. TD Asset Management Inc owned 0.53% of HudBay Minerals worth $32,070,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in HBM. Triasima Portfolio Management inc. purchased a new stake in HudBay Minerals in the 3rd quarter worth approximately $8,057,000. Campbell & CO Investment Adviser LLC acquired a new position in shares of HudBay Minerals in the third quarter worth $1,454,000. L1 Capital Pty Ltd raised its holdings in shares of HudBay Minerals by 4.4% during the second quarter. L1 Capital Pty Ltd now owns 15,054,087 shares of the mining company’s stock worth $159,864,000 after acquiring an additional 630,703 shares in the last quarter. Precision Wealth Strategies LLC acquired a new stake in HudBay Minerals during the third quarter valued at $855,000. Finally, Franklin Resources Inc. grew its stake in HudBay Minerals by 7.9% in the second quarter. Franklin Resources Inc. now owns 833,163 shares of the mining company’s stock valued at $8,844,000 after purchasing an additional 60,942 shares in the last quarter. Institutional investors and hedge funds own 57.82% of the company’s stock.

HudBay Minerals Stock Up 1.0%

Shares of HudBay Minerals stock opened at $28.32 on Friday. HudBay Minerals Inc has a 12-month low of $5.95 and a 12-month high of $28.74. The company has a quick ratio of 0.76, a current ratio of 0.95 and a debt-to-equity ratio of 0.18. The stock has a 50 day moving average price of $23.71 and a two-hundred day moving average price of $18.06. The stock has a market capitalization of $11.24 billion, a P/E ratio of 19.81, a PEG ratio of 0.70 and a beta of 1.33.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last issued 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 analyst estimates of $730.13 million. HudBay Minerals had a return on equity of 8.91% and a net margin of 25.71%.HudBay Minerals’s quarterly revenue was up 25.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.18 earnings per share. Equities analysts expect that HudBay Minerals Inc will post 0.79 earnings per share for the current year.

HudBay Minerals Announces Dividend

The business also recently announced a dividend, which will be paid on Friday, March 27th. Investors of record on Tuesday, March 10th will be given a dividend of $0.01 per share. The ex-dividend date of this dividend is Tuesday, March 10th. This represents a yield of 8.0%. HudBay Minerals’s payout ratio is 0.70%.

Analyst Upgrades and Downgrades

HBM has been the subject of a number of recent research reports. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of HudBay Minerals in a research note on Thursday, January 15th. National Bank Financial lowered shares of HudBay Minerals from an “outperform” rating to a “sector perform” rating in a research report on Wednesday, January 28th. Zacks Research cut shares of HudBay Minerals from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 17th. Wall Street Zen raised shares of HudBay Minerals from a “hold” rating to a “buy” rating in a research report on Saturday, February 21st. Finally, Jefferies Financial Group restated a “buy” rating on shares of HudBay Minerals in a research note on Sunday, December 7th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $26.00.

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.