Vanguard Group Inc. Buys 373,399 Shares of HudBay Minerals Inc $HBM

Vanguard Group Inc. grew its stake in HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) by 2.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,198,255 shares of the mining company’s stock after acquiring an additional 373,399 shares during the quarter. Vanguard Group Inc. owned about 4.09% of HudBay Minerals worth $245,355,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in HBM. Global Retirement Partners LLC purchased a new position in HudBay Minerals in the third quarter valued at about $45,000. Jones Financial Companies Lllp grew its position in shares of 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 buying an additional 3,733 shares during the last quarter. Plato Investment Management Ltd bought a new position in shares of HudBay Minerals during the 2nd quarter worth approximately $84,000. Y Intercept Hong Kong Ltd purchased a new stake in HudBay Minerals during the second quarter valued at approximately $116,000. Finally, Savvy Advisors Inc. acquired a new stake in HudBay Minerals in the second quarter valued at approximately $141,000. 57.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. UBS Group initiated coverage on HudBay Minerals in a research report on Thursday, January 8th. They set a “buy” rating on the stock. Zacks Research cut HudBay Minerals from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 17th. Jefferies Financial Group restated a “buy” rating on shares of HudBay Minerals in a research note on Sunday, December 7th. Wall Street Zen lowered shares of HudBay Minerals from a “buy” rating to a “hold” rating in a research report on Sunday. Finally, Citigroup lifted their target price on shares of HudBay Minerals from $23.00 to $32.50 and gave the stock a “buy” rating in a research note on Wednesday, February 11th. 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’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $26.00.

HudBay Minerals Trading Up 1.0%

Shares of NYSE:HBM opened at $28.32 on Friday. The company has a quick ratio of 0.76, a current ratio of 0.95 and a debt-to-equity ratio of 0.18. HudBay Minerals Inc has a 52-week low of $5.95 and a 52-week high of $28.74. The stock has a market cap of $11.24 billion, a price-to-earnings ratio of 19.81, a PEG ratio of 0.71 and a beta of 1.33. The business has a 50-day moving average price of $23.71 and a 200-day moving average price of $18.12.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last issued its earnings results on Friday, February 20th. The mining company reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.18). HudBay Minerals had a net margin of 25.71% and a return on equity of 8.91%. The firm had revenue of $732.90 million during the quarter, compared to analysts’ expectations of $730.13 million. During the same quarter in the prior year, the company earned $0.18 EPS. HudBay Minerals’s quarterly revenue was up 25.3% on a year-over-year basis. Equities analysts predict that HudBay Minerals Inc will post 0.79 EPS for the current year.

HudBay Minerals Announces Dividend

The firm also recently announced a dividend, which will be paid on Friday, March 27th. Investors of record on Tuesday, March 10th will be issued a dividend of $0.01 per share. 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 (DPR) is 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.