Global Retirement Partners LLC Invests $1.22 Million in HudBay Minerals Inc $HBM

Global Retirement Partners LLC bought a new stake in HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 51,828 shares of the mining company’s stock, valued at approximately $1,224,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Allworth Financial LP raised its holdings in shares of HudBay Minerals by 107.9% in the 3rd quarter. Allworth Financial LP now owns 1,990 shares of the mining company’s stock worth $30,000 after buying an additional 1,033 shares in the last quarter. Quarry LP acquired a new position in HudBay Minerals during the third quarter worth $38,000. IFP Advisors Inc acquired a new position in HudBay Minerals during the third quarter worth $45,000. Banque Cantonale Vaudoise lifted its holdings in shares of HudBay Minerals by 513.5% during the third quarter. Banque Cantonale Vaudoise now owns 3,172 shares of the mining company’s stock valued at $48,000 after acquiring an additional 2,655 shares during the period. Finally, Kestra Advisory Services LLC acquired a new stake in shares of HudBay Minerals in the 4th quarter valued at $71,000. Institutional investors own 57.82% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on HBM. Scotiabank reissued an “outperform” rating on shares of HudBay Minerals in a report on Thursday, July 30th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of HudBay Minerals in a research note on Tuesday, April 21st. Barclays increased their price target on HudBay Minerals from $30.00 to $32.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 15th. Weiss Ratings cut HudBay Minerals from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday. Finally, Jefferies Financial Group reissued a “buy” rating on shares of HudBay Minerals in a report on Monday, July 6th. Eleven analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $31.33.

HudBay Minerals Stock Up 2.7%

Shares of NYSE:HBM opened at $27.42 on Tuesday. The company has a 50 day moving average price of $24.30 and a two-hundred day moving average price of $24.35. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.93 and a current ratio of 2.24. The company has a market capitalization of $12.18 billion, a PE ratio of 16.13, a PEG ratio of 0.41 and a beta of 1.48. HudBay Minerals Inc has a 52 week low of $10.72 and a 52 week high of $32.15.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last released its quarterly earnings results on Wednesday, July 29th. The mining company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.02. The company had revenue of $631.30 million for the quarter, compared to analyst estimates of $632.43 million. HudBay Minerals had a return on equity of 9.47% and a net margin of 27.48%.HudBay Minerals’s revenue was up 17.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.19 earnings per share. Analysts forecast that HudBay Minerals Inc will post 1.58 earnings per share for the current year.

HudBay Minerals Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Tuesday, September 8th will be paid a $0.01 dividend. The ex-dividend date is Tuesday, September 8th. This represents a $0.04 annualized dividend and a yield of 0.1%. HudBay Minerals’s payout ratio is presently 1.76%.

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.