Public Employees Retirement System of Ohio Purchases New Position in HudBay Minerals Inc $HBM

Public Employees Retirement System of Ohio purchased a new stake in HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) during the second quarter, Holdings Channel reports. The firm purchased 658,063 shares of the mining company’s stock, valued at approximately $15,533,000.

Other hedge funds have also recently bought and sold shares of the company. Rakuten Securities Inc. acquired a new stake in shares of HudBay Minerals in the 2nd quarter valued at $28,000. Fiduciary Financial Advisors acquired a new stake in shares of HudBay Minerals during the 2nd quarter worth about $32,000. EFG International AG bought a new position in HudBay Minerals during the 2nd quarter valued at about $38,000. Allworth Financial LP lifted its holdings in HudBay Minerals by 107.9% during the 3rd quarter. Allworth Financial LP now owns 1,990 shares of the mining company’s stock valued at $30,000 after purchasing an additional 1,033 shares during the last quarter. Finally, Bard Associates Inc. bought a new position in HudBay Minerals during the 2nd quarter valued at about $53,000. 57.82% of the stock is currently owned by institutional investors and hedge funds.

HudBay Minerals Stock Performance

HudBay Minerals stock opened at $29.38 on Monday. The stock has a 50-day simple moving average of $24.63 and a 200 day simple moving average of $24.59. The company has a quick ratio of 1.93, a current ratio of 2.24 and a debt-to-equity ratio of 0.17. HudBay Minerals Inc has a 12-month low of $11.62 and a 12-month high of $32.15. The stock has a market capitalization of $13.05 billion, a price-to-earnings ratio of 17.28, a P/E/G ratio of 0.45 and a beta of 1.48.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last issued its quarterly earnings data 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 firm had revenue of $631.30 million for the quarter, compared to analyst estimates of $632.43 million. HudBay Minerals had a net margin of 27.48% and a return on equity of 9.47%. The company’s revenue was up 17.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.19 EPS. On average, research analysts anticipate that HudBay Minerals Inc will post 1.58 earnings per share for the current fiscal year.

HudBay Minerals Announces Dividend

The business also recently announced 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. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date is Tuesday, September 8th. HudBay Minerals’s dividend payout ratio is presently 1.18%.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Citigroup reaffirmed a “positive” rating on shares of HudBay Minerals in a research note on Wednesday, July 15th. Jefferies Financial Group reiterated a “buy” rating on shares of HudBay Minerals in a research note on Monday, July 6th. Weiss Ratings downgraded HudBay Minerals from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, August 13th. Wall Street Zen downgraded HudBay Minerals from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Finally, 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. Eleven equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $31.33.

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.