Infrastructure Capital Advisors LLC Makes New Investment in HudBay Minerals Inc $HBM

Infrastructure Capital Advisors LLC bought a new position in HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) in the second quarter, HoldingsChannel.com reports. The fund bought 27,686 shares of the mining company’s stock, valued at approximately $654,000.

Other large investors also recently modified their holdings of the company. OMERS ADMINISTRATION Corp bought a new stake in shares of HudBay Minerals during the second quarter valued at approximately $12,614,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of HudBay Minerals in the second quarter valued at approximately $99,022,000. Clear Harbor Asset Management LLC bought a new position in HudBay Minerals in the 2nd quarter worth approximately $734,000. Bank of Nova Scotia bought a new position in HudBay Minerals in the 2nd quarter worth approximately $252,000. Finally, Orchard Capital Management LLC acquired a new position in HudBay Minerals during the 2nd quarter worth $3,154,000. 57.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have commented on the company. Weiss Ratings lowered HudBay Minerals from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, August 13th. Scotiabank restated an “outperform” rating on shares of HudBay Minerals in a research report on Thursday, July 30th. Wall Street Zen cut HudBay Minerals from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Jefferies Financial Group reiterated a “buy” rating on shares of HudBay Minerals in a report on Monday, July 6th. Finally, Bank of America lowered their price objective on HudBay Minerals from $33.50 to $29.50 and set a “buy” rating for the company in a research report on Thursday, July 9th. Eleven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $31.33.

HudBay Minerals Price Performance

Shares of HBM stock opened at $30.08 on Monday. The firm’s 50 day moving average price is $24.45 and its two-hundred day moving average price is $24.42. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.93 and a current ratio of 2.24. HudBay Minerals Inc has a 52-week low of $11.21 and a 52-week high of $32.15. The stock has a market cap of $13.36 billion, a PE ratio of 17.69, a PEG ratio of 0.46 and a beta of 1.48.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last posted 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. HudBay Minerals had a return on equity of 9.47% and a net margin of 27.48%.The company had revenue of $631.30 million for the quarter, compared to the consensus estimate of $632.43 million. During the same quarter in the prior year, the business posted $0.19 EPS. The firm’s quarterly revenue was up 17.7% on a year-over-year basis. As a group, analysts forecast that HudBay Minerals Inc will post 1.58 EPS for the current year.

HudBay Minerals Dividend Announcement

The business 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 of this dividend is Tuesday, September 8th. This represents a $0.04 annualized dividend and a yield of 0.1%. HudBay Minerals’s dividend payout ratio is presently 1.76%.

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.