Greenland Capital Management LP Invests $1.14 Million in HudBay Minerals Inc $HBM

Greenland Capital Management LP bought a new stake in HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) during the 3rd quarter, HoldingsChannel reports. The fund bought 74,940 shares of the mining company’s stock, valued at approximately $1,136,000.

Several other large investors have also recently added to or reduced their stakes in HBM. Triasima Portfolio Management inc. acquired a new position in HudBay Minerals during the 3rd quarter worth approximately $8,057,000. Campbell & CO Investment Adviser LLC acquired a new stake in shares of HudBay Minerals in the 3rd quarter valued at approximately $1,454,000. L1 Capital Pty Ltd boosted its stake in shares of HudBay Minerals by 4.4% in the second quarter. L1 Capital Pty Ltd now owns 15,054,087 shares of the mining company’s stock valued at $159,864,000 after buying an additional 630,703 shares in the last quarter. Precision Wealth Strategies LLC acquired a new position in HudBay Minerals during the third quarter worth $855,000. Finally, Franklin Resources Inc. grew its holdings in HudBay Minerals by 7.9% during the second quarter. Franklin Resources Inc. now owns 833,163 shares of the mining company’s stock worth $8,844,000 after acquiring an additional 60,942 shares during the period. 57.82% of the stock is owned by hedge funds and other institutional investors.

HudBay Minerals Trading Up 4.3%

Shares of HBM stock opened at $26.05 on Tuesday. The stock has a market cap of $10.34 billion, a P/E ratio of 18.21 and a beta of 1.33. The company has a quick ratio of 0.76, a current ratio of 0.97 and a debt-to-equity ratio of 0.18. HudBay Minerals Inc has a fifty-two week low of $5.95 and a fifty-two week high of $28.74. The business has a fifty day simple moving average of $22.99 and a 200-day simple moving average of $17.66.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last released 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). The business had revenue of $732.90 million during the quarter, compared to analysts’ expectations of $730.13 million. HudBay Minerals had a return on equity of 9.16% and a net margin of 25.71%.HudBay Minerals’s quarterly revenue was up 25.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.18 earnings per share. On average, analysts forecast that HudBay Minerals Inc will post 0.79 earnings per share for the current fiscal year.

HudBay Minerals Announces Dividend

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

Wall Street Analyst Weigh In

HBM has been the subject of a number of recent analyst reports. Raymond James Financial reissued an “outperform” rating on shares of HudBay Minerals in a report on Wednesday, January 14th. Royal Bank Of Canada reiterated an “outperform” rating on shares of HudBay Minerals in a report on Monday, November 17th. Zacks Research cut shares of HudBay Minerals from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 17th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of HudBay Minerals in a report on Thursday, January 15th. Finally, National Bank Financial cut shares of HudBay Minerals from an “outperform” rating to a “sector perform” rating in a report on Wednesday, January 28th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, HudBay Minerals currently has a consensus rating of “Buy” and an average target price of $26.00.

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.