Caisse de depot et placement du Quebec Makes New $20.62 Million Investment in HudBay Minerals Inc $HBM

Caisse de depot et placement du Quebec purchased a new stake in shares of HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 873,763 shares of the mining company’s stock, valued at approximately $20,625,000.

A number of other institutional investors also recently modified their holdings of the company. FIL Ltd raised its position in shares of HudBay Minerals by 202.0% in the fourth quarter. FIL Ltd now owns 33,143,172 shares of the mining company’s stock valued at $658,010,000 after purchasing an additional 22,169,339 shares during the period. Arrowstreet Capital Limited Partnership acquired a new position in HudBay Minerals in the 3rd quarter valued at $123,736,000. Mackenzie Financial Corp raised its holdings in HudBay Minerals by 116.1% in the 4th quarter. Mackenzie Financial Corp now owns 10,178,626 shares of the mining company’s stock worth $202,327,000 after acquiring an additional 5,468,109 shares during the period. Norges Bank bought a new position in HudBay Minerals in the 4th quarter worth $105,315,000. Finally, Goldman Sachs Group Inc. lifted its position in HudBay Minerals by 144.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 7,281,095 shares of the mining company’s stock worth $55,264,000 after acquiring an additional 4,299,428 shares during the last quarter. Institutional investors own 57.82% of the company’s stock.

Analyst Ratings Changes

HBM has been the subject of a number of recent analyst reports. Bank of America decreased their price target on shares of HudBay Minerals from $33.50 to $29.50 and set a “buy” rating for the company in a report on Thursday, July 9th. Scotiabank reiterated an “outperform” rating on shares of HudBay Minerals in a research note on Thursday, July 30th. Jefferies Financial Group reissued a “buy” rating on shares of HudBay Minerals in a research report on Monday, July 6th. Weiss Ratings downgraded HudBay Minerals from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, August 13th. Finally, Wall Street Zen downgraded HudBay Minerals from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Eleven equities research 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, the stock has an average rating of “Moderate Buy” and an average price target of $31.33.

HudBay Minerals Trading Down 3.2%

Shares of HBM stock opened at $29.38 on Friday. The firm has a market capitalization of $13.05 billion, a P/E ratio of 17.28, a price-to-earnings-growth ratio of 0.46 and a beta of 1.48. HudBay Minerals Inc has a 1 year low of $11.62 and a 1 year high of $32.15. The firm’s fifty day simple moving average is $24.63 and its 200 day simple moving average is $24.60. The company has a current ratio of 2.24, a quick ratio of 1.93 and a debt-to-equity ratio of 0.17.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last issued its quarterly earnings results on Wednesday, July 29th. The mining company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.02. The firm had revenue of $631.30 million during the quarter, compared to the consensus estimate of $632.43 million. HudBay Minerals had a net margin of 27.48% and a return on equity of 9.47%. The business’s revenue was up 17.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.19 EPS. As a group, sell-side analysts predict that HudBay Minerals Inc will post 1.58 EPS for the current year.

HudBay Minerals Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Tuesday, September 8th will be given a dividend of $0.01 per share. The ex-dividend date of this dividend is Tuesday, September 8th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.1%. HudBay Minerals’s dividend payout ratio is currently 1.76%.

HudBay Minerals 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.