802,513 Shares in HudBay Minerals Inc $HBM Bought by Carrhae Capital LLP

Carrhae Capital LLP acquired a new position in HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) in the 4th quarter, Holdings Channel.com reports. The firm acquired 802,513 shares of the mining company’s stock, valued at approximately $15,930,000. HudBay Minerals comprises approximately 0.6% of Carrhae Capital LLP’s portfolio, making the stock its 27th biggest position.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Allworth Financial LP boosted its position in shares of HudBay Minerals by 107.9% during the 3rd quarter. Allworth Financial LP now owns 1,990 shares of the mining company’s stock worth $30,000 after purchasing an additional 1,033 shares in the last quarter. Quarry LP purchased a new position in shares of HudBay Minerals in the 3rd quarter valued at about $38,000. IFP Advisors Inc acquired a new stake in shares of HudBay Minerals in the third quarter valued at about $45,000. Banque Cantonale Vaudoise lifted its stake in shares of HudBay Minerals by 513.5% in 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 purchased a new stake in HudBay Minerals during the third quarter worth about $67,000. Institutional investors and hedge funds own 57.82% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on HBM. 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. Weiss Ratings raised HudBay Minerals from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, February 10th. Scotiabank restated an “outperform” rating on shares of HudBay Minerals in a report on Monday, January 26th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of HudBay Minerals in a research note on Tuesday, April 21st. Finally, Wall Street Zen raised HudBay Minerals from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $27.33.

HudBay Minerals Trading Down 1.5%

Shares of HudBay Minerals stock opened at $24.36 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.36 and a quick ratio of 1.20. HudBay Minerals Inc has a 1 year low of $8.42 and a 1 year high of $28.74. The company has a market capitalization of $9.68 billion, a P/E ratio of 14.68, a P/E/G ratio of 0.29 and a beta of 1.37. The business has a 50 day moving average price of $22.97 and a 200 day moving average price of $21.76.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last announced its earnings results on Friday, May 1st. The mining company reported $0.40 EPS for the quarter, beating 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 firm had revenue of $757.30 million for the quarter, compared to analysts’ expectations of $684.73 million. During the same quarter in the prior year, the firm earned $0.24 EPS. HudBay Minerals’s quarterly revenue was up 27.3% on a year-over-year basis. Sell-side analysts anticipate that HudBay Minerals Inc will post 1.65 EPS for the current fiscal year.

HudBay Minerals Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Tuesday, June 9th will be issued a dividend of $0.01 per share. The ex-dividend date is Tuesday, June 9th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.2%. HudBay Minerals’s payout ratio is 0.60%.

HudBay Minerals Company 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.