K.J. Harrison & Partners Inc Has $1.15 Million Position in HudBay Minerals Inc $HBM

K.J. Harrison & Partners Inc lowered its stake in shares of HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) by 39.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 54,900 shares of the mining company’s stock after selling 35,700 shares during the quarter. K.J. Harrison & Partners Inc’s holdings in HudBay Minerals were worth $1,147,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Allworth Financial LP grew 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 buying an additional 1,033 shares during the period. Quarry LP acquired a new position in HudBay Minerals in the third quarter valued at approximately $38,000. IFP Advisors Inc bought a new position in HudBay Minerals in the third quarter valued at approximately $45,000. Banque Cantonale Vaudoise boosted its stake in 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 acquiring an additional 2,655 shares during the last quarter. Finally, Jones Financial Companies Lllp boosted its stake in HudBay Minerals by 131.6% in the first quarter. Jones Financial Companies Lllp now owns 6,570 shares of the mining company’s stock valued at $50,000 after acquiring an additional 3,733 shares during the last quarter. 57.82% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on HBM shares. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of HudBay Minerals in a report on Tuesday, April 21st. Barclays started coverage on HudBay Minerals in a research report on Thursday, May 21st. They set an “overweight” rating and a $30.00 target price for the company. Scotiabank reiterated an “outperform” rating on shares of HudBay Minerals in a research report on Thursday, June 25th. Weiss Ratings raised shares of HudBay Minerals from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, June 29th. Finally, Wall Street Zen upgraded shares of HudBay Minerals from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $27.33.

HudBay Minerals Price Performance

NYSE:HBM opened at $22.57 on Friday. The stock has a market capitalization of $10.03 billion, a PE ratio of 13.60, a P/E/G ratio of 0.26 and a beta of 1.48. HudBay Minerals Inc has a 1-year low of $8.93 and a 1-year high of $32.15. The firm has a fifty day simple moving average of $25.69 and a 200 day simple moving average of $23.86. The company has a current ratio of 1.36, a quick ratio of 1.20 and a debt-to-equity ratio of 0.14.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last released its quarterly earnings data on Friday, May 1st. The mining company reported $0.40 earnings per share (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 company had revenue of $757.30 million during the quarter, compared to analysts’ expectations of $684.73 million. During the same period last year, the firm posted $0.24 earnings per share. The business’s revenue was up 27.3% on a year-over-year basis. On average, research analysts expect that HudBay Minerals Inc will post 1.65 EPS for the current fiscal year.

HudBay Minerals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Tuesday, June 9th were issued a $0.01 dividend. The ex-dividend date of this dividend was Tuesday, June 9th. This represents a $0.04 dividend on an annualized basis and a yield of 0.2%. HudBay Minerals’s payout ratio is currently 1.81%.

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.