K.J. Harrison & Partners Inc Takes $1.68 Million Position in HudBay Minerals Inc $HBM

K.J. Harrison & Partners Inc bought a new position in HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 108,950 shares of the mining company’s stock, valued at approximately $1,683,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in HBM. Jones Financial Companies Lllp increased its stake in HudBay Minerals by 131.6% in the 1st quarter. Jones Financial Companies Lllp now owns 6,570 shares of the mining company’s stock worth $50,000 after acquiring an additional 3,733 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of HudBay Minerals by 144.2% in the first quarter. Goldman Sachs Group Inc. now owns 7,281,095 shares of the mining company’s stock valued at $55,264,000 after purchasing an additional 4,299,428 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in HudBay Minerals by 6.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 439,687 shares of the mining company’s stock worth $3,337,000 after purchasing an additional 27,944 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in HudBay Minerals by 45.6% during the second quarter. Envestnet Asset Management Inc. now owns 51,581 shares of the mining company’s stock valued at $547,000 after purchasing an additional 16,149 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new position in HudBay Minerals during the second quarter valued at $116,000. 57.82% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on HBM shares. Wall Street Zen upgraded shares of HudBay Minerals from a “hold” rating to a “buy” rating in a report on Saturday, February 21st. Royal Bank Of Canada restated an “outperform” rating on shares of HudBay Minerals in a research report on Monday, November 17th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of HudBay Minerals in a research report on Thursday, January 15th. Jefferies Financial Group restated a “buy” rating on shares of HudBay Minerals in a research report on Sunday, December 7th. Finally, Citigroup boosted their price objective on shares of HudBay Minerals from $23.00 to $32.50 and gave the company a “buy” rating in a research report on Wednesday, February 11th. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $26.00.

HudBay Minerals Price Performance

Shares of HBM stock opened at $27.71 on Thursday. The stock has a 50 day moving average price of $23.35 and a 200 day moving average price of $17.86. HudBay Minerals Inc has a 52-week low of $5.95 and a 52-week high of $28.74. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.76 and a current ratio of 0.95. The firm has a market capitalization of $11.00 billion, a P/E ratio of 19.38, a P/E/G ratio of 0.70 and a beta of 1.33.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last announced its quarterly earnings data on Friday, February 20th. The mining company reported $0.22 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.18). HudBay Minerals had a net margin of 25.71% and a return on equity of 8.91%. The business had revenue of $732.90 million during the quarter, compared to the consensus estimate of $730.13 million. During the same period last year, the company earned $0.18 EPS. The business’s revenue was up 25.3% compared to the same quarter last year. As a group, sell-side analysts predict that HudBay Minerals Inc will post 0.79 earnings per share for the current year.

HudBay Minerals Announces Dividend

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

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.