J. Safra Sarasin Holding AG Purchases 80,995 Shares of HudBay Minerals Inc $HBM

J. Safra Sarasin Holding AG boosted its position in shares of HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) by 522.5% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 96,495 shares of the mining company’s stock after purchasing an additional 80,995 shares during the quarter. J. Safra Sarasin Holding AG’s holdings in HudBay Minerals were worth $2,014,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of HBM. Bank of Nova Scotia grew its position in shares of HudBay Minerals by 662.0% during the 3rd quarter. Bank of Nova Scotia now owns 4,273,384 shares of the mining company’s stock worth $64,783,000 after buying an additional 3,712,572 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of HudBay Minerals by 10.4% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,502,218 shares of the mining company’s stock valued at $159,111,000 after buying an additional 986,278 shares during the period. Affinity Wealth Management LLC bought a new stake in shares of HudBay Minerals in the fourth quarter valued at about $3,857,000. Artemis Investment Management LLP raised its holdings in shares of HudBay Minerals by 15.6% in the fourth quarter. Artemis Investment Management LLP now owns 5,709,453 shares of the mining company’s stock valued at $113,355,000 after acquiring an additional 770,172 shares in the last quarter. Finally, Cinctive Capital Management LP purchased a new stake in HudBay Minerals in the third quarter worth about $1,490,000. 57.82% of the stock is owned by institutional investors.

Analysts Set New Price Targets

HBM has been the topic of several recent research reports. Jefferies Financial Group reiterated a “buy” rating on shares of HudBay Minerals in a report on Monday, July 6th. Bank of America lowered their price target on shares of HudBay Minerals from $33.50 to $29.50 and set a “buy” rating for the company in a research report on Thursday, July 9th. Barclays assumed coverage on shares of HudBay Minerals in a research note on Thursday, May 21st. They set an “overweight” rating and a $30.00 price objective on the stock. Scotiabank reissued an “outperform” rating on shares of HudBay Minerals in a report on Thursday, June 25th. Finally, Wall Street Zen downgraded shares of HudBay Minerals from a “buy” rating to a “hold” rating in a research note on Sunday. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, HudBay Minerals presently has an average rating of “Moderate Buy” and an average price target of $30.67.

HudBay Minerals Stock Performance

Shares of HudBay Minerals stock opened at $20.92 on Tuesday. The company has a market capitalization of $9.29 billion, a PE ratio of 12.60, a P/E/G ratio of 0.33 and a beta of 1.48. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.20 and a current ratio of 1.36. The company has a 50-day simple moving average of $25.46 and a two-hundred day simple moving average of $23.99. HudBay Minerals Inc has a one year low of $8.93 and a one year high of $32.15.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last released its quarterly earnings results on Friday, May 1st. The mining company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.34 by $0.06. HudBay Minerals had a net margin of 27.75% and a return on equity of 10.04%. The business had revenue of $757.30 million during the quarter, compared to analyst estimates of $684.73 million. During the same period in the prior year, the firm posted $0.24 earnings per share. The company’s quarterly revenue was up 27.3% on a year-over-year basis. Research analysts expect that HudBay Minerals Inc will post 1.58 EPS for the current fiscal year.

HudBay Minerals Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Tuesday, June 9th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Tuesday, June 9th. This represents a $0.04 dividend on an annualized basis and a yield of 0.2%. HudBay Minerals’s dividend payout ratio is presently 1.81%.

HudBay Minerals Company 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.