Moore Capital Management LP Acquires Shares of 1,285,371 HudBay Minerals Inc $HBM

Moore Capital Management LP acquired a new stake in HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) in the third quarter, HoldingsChannel.com reports. The fund acquired 1,285,371 shares of the mining company’s stock, valued at approximately $19,479,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Global Retirement Partners LLC bought a new position in shares of HudBay Minerals during the 3rd quarter worth approximately $45,000. Banque Cantonale Vaudoise raised its stake in HudBay Minerals by 513.5% in the 3rd 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 period. Kelleher Financial Advisors acquired a new stake in HudBay Minerals during the 3rd quarter valued at $67,000. Jones Financial Companies Lllp lifted its holdings in HudBay Minerals by 131.6% during the 1st quarter. Jones Financial Companies Lllp now owns 6,570 shares of the mining company’s stock valued at $50,000 after purchasing an additional 3,733 shares during the last quarter. Finally, Quadrant Capital Group LLC bought a new position in HudBay Minerals during the third quarter worth $123,000. 57.82% of the stock is currently owned by institutional investors.

HudBay Minerals Stock Performance

Shares of NYSE HBM opened at $21.12 on Tuesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.95 and a quick ratio of 0.78. The stock’s fifty day moving average price is $24.38 and its two-hundred day moving average price is $19.07. HudBay Minerals Inc has a one year low of $5.95 and a one year high of $28.74. The firm has a market cap of $8.38 billion, a price-to-earnings ratio of 14.77, a P/E/G ratio of 0.28 and a beta of 1.27.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last posted its quarterly earnings data on Friday, February 20th. The mining company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.18). HudBay Minerals had a return on equity of 8.91% and a net margin of 25.71%.The firm had revenue of $732.90 million for the quarter, compared to the consensus estimate of $730.13 million. During the same quarter in the previous year, the business earned $0.18 EPS. The firm’s quarterly revenue was up 25.3% on a year-over-year basis. On average, equities analysts forecast that HudBay Minerals Inc will post 0.79 EPS for the current year.

HudBay Minerals Announces Dividend

The firm also recently declared a dividend, which will be paid on Friday, March 27th. Investors of record on Tuesday, March 10th will be given a dividend of $0.01 per share. This represents a yield of 9.0%. The ex-dividend date of this dividend is Tuesday, March 10th. HudBay Minerals’s dividend payout ratio (DPR) is currently 0.70%.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. UBS Group assumed coverage on shares of HudBay Minerals in a report on Thursday, January 8th. They issued a “buy” rating on the stock. Weiss Ratings upgraded shares of HudBay Minerals from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, February 10th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of HudBay Minerals in a report on Thursday, January 15th. Citigroup upped their price target on shares of HudBay Minerals from $23.00 to $32.50 and gave the company a “buy” rating in a research note on Wednesday, February 11th. Finally, Scotiabank reissued an “outperform” rating on shares of HudBay Minerals in a report on Monday, January 26th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock 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.