PineBridge Investments L.P. raised its position in shares of HudBay Minerals Inc. (NYSE:HBM) by 16.2% during the second quarter, according to its most recent filing with the SEC. The fund owned 65,773 shares of the mining company’s stock after buying an additional 9,160 shares during the period. PineBridge Investments L.P.’s holdings in HudBay Minerals were worth $406,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Greystone Managed Investments Inc. acquired a new position in HudBay Minerals during the second quarter worth about $5,986,000. BlackRock Fund Advisors boosted its position in HudBay Minerals by 1.1% in the first quarter. BlackRock Fund Advisors now owns 49,772 shares of the mining company’s stock worth $183,000 after buying an additional 535 shares in the last quarter. CIBC World Markets Inc. boosted its position in HudBay Minerals by 73.8% in the first quarter. CIBC World Markets Inc. now owns 214,342 shares of the mining company’s stock worth $789,000 after buying an additional 90,982 shares in the last quarter. Global X Management Co. LLC boosted its position in HudBay Minerals by 19.4% in the second quarter. Global X Management Co. LLC now owns 261,815 shares of the mining company’s stock worth $1,244,000 after buying an additional 42,479 shares in the last quarter. Finally, Letko Brosseau & Associates Inc. boosted its position in HudBay Minerals by 0.5% in the second quarter. Letko Brosseau & Associates Inc. now owns 25,998,894 shares of the mining company’s stock worth $123,309,000 after buying an additional 124,550 shares in the last quarter. Hedge funds and other institutional investors own 66.87% of the company’s stock.

HudBay Minerals Inc. (NYSE:HBM) opened at 3.69 on Tuesday. HudBay Minerals Inc. has a 1-year low of $1.56 and a 1-year high of $6.02. The firm’s market capitalization is $871.69 million. The company has a 50 day moving average price of $4.40 and a 200-day moving average price of $4.32.

HudBay Minerals (NYSE:HBM) last posted its quarterly earnings results on Wednesday, July 27th. The mining company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by $0.07. HudBay Minerals had a positive return on equity of 0.50% and a negative net margin of 26.09%. The company had revenue of $247 million for the quarter, compared to the consensus estimate of $249.18 million. During the same quarter in the previous year, the business earned ($0.24) earnings per share. HudBay Minerals’s revenue was up 63.7% compared to the same quarter last year. On average, analysts forecast that HudBay Minerals Inc. will post $0.08 EPS for the current fiscal year.

The business also recently declared a semiannual dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 9th will be given a dividend of $0.0076 per share. This represents a yield of 0.3%. This is a positive change from HudBay Minerals’s previous semiannual dividend of $0.01. The ex-dividend date of this dividend is Wednesday, September 7th. HudBay Minerals’s dividend payout ratio (DPR) is presently -1.63%.

HBM has been the topic of a number of recent analyst reports. Zacks Investment Research cut HudBay Minerals from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 28th. Credit Suisse Group AG cut HudBay Minerals from an “outperform” rating to a “neutral” rating in a research report on Thursday, July 28th. Scotiabank reiterated an “outperform” rating and issued a $8.00 target price on shares of HudBay Minerals in a research report on Thursday, July 28th. TD Securities reiterated a “hold” rating and issued a $7.50 target price on shares of HudBay Minerals in a research report on Thursday, August 4th. Finally, RBC Capital Markets reiterated an “outperform” rating and issued a $8.00 target price (up previously from $7.50) on shares of HudBay Minerals in a research report on Wednesday, August 3rd. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $7.10.

HudBay Minerals Company Profile

HudBay Minerals Inc is a Canada-based mining company. The Company is engaged in the production of copper concentrate, consisting of copper, gold and silver, as well as zinc metal. The Company is focused on the discovery, production and marketing of base and precious metals. The Company has assets in North and South America.

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