UBS Group AG Increases Stock Position in HudBay Minerals Inc $HBM

UBS Group AG increased its position in HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) by 25.9% in the fourth quarter, Holdings Channel.com reports. The fund owned 799,864 shares of the mining company’s stock after purchasing an additional 164,770 shares during the period. UBS Group AG’s holdings in HudBay Minerals were worth $15,877,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in HudBay Minerals by 2.4% in the 3rd quarter. Vanguard Group Inc. now owns 16,198,255 shares of the mining company’s stock worth $245,355,000 after acquiring an additional 373,399 shares during the last quarter. Invesco Ltd. grew its position in HudBay Minerals by 0.4% in the 3rd quarter. Invesco Ltd. now owns 11,391,356 shares of the mining company’s stock worth $172,693,000 after purchasing an additional 46,948 shares during the period. Dimensional Fund Advisors LP grew its position in HudBay Minerals by 3.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 11,334,474 shares of the mining company’s stock worth $171,832,000 after purchasing an additional 348,278 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in HudBay Minerals by 10.4% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,502,218 shares of the mining company’s stock worth $159,111,000 after purchasing an additional 986,278 shares during the period. Finally, Arrowstreet Capital Limited Partnership bought a new stake in HudBay Minerals in the 3rd quarter worth approximately $123,736,000. 57.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have commented on HBM. Weiss Ratings raised shares of HudBay Minerals from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, February 10th. 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 report on Wednesday, February 11th. Raymond James Financial reaffirmed an “outperform” rating on shares of HudBay Minerals in a research report on Wednesday, January 14th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of HudBay Minerals in a research report on Tuesday, April 21st. Finally, Scotiabank reaffirmed an “outperform” rating on shares of HudBay Minerals in a research report on Monday, January 26th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $26.00.

HudBay Minerals Trading Up 2.3%

Shares of HBM stock opened at $27.76 on Thursday. HudBay Minerals Inc has a 1 year low of $7.94 and a 1 year high of $28.74. The firm has a fifty day moving average price of $22.75 and a 200-day moving average price of $21.36. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.36 and a quick ratio of 1.20. The company has a market cap of $11.02 billion, a price-to-earnings ratio of 16.72, a PEG ratio of 0.31 and a beta of 1.37.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last issued its earnings results on Friday, May 1st. The mining company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.06. The company had revenue of $757.30 million during the quarter, compared to the consensus estimate of $684.73 million. HudBay Minerals had a net margin of 27.75% and a return on equity of 10.04%. HudBay Minerals’s quarterly revenue was up 27.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.24 EPS. As a group, equities analysts predict that HudBay Minerals Inc will post 1.65 earnings per share for the current year.

HudBay Minerals Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Tuesday, June 9th will be issued a $0.01 dividend. The ex-dividend date of this dividend is Tuesday, June 9th. This represents a $0.04 annualized dividend and a yield of 0.1%. HudBay Minerals’s dividend payout ratio is currently 0.60%.

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.