OMERS ADMINISTRATION Corp Invests $12.61 Million in HudBay Minerals Inc $HBM

OMERS ADMINISTRATION Corp bought a new stake in shares of HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 534,384 shares of the mining company’s stock, valued at approximately $12,614,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Rakuten Securities Inc. purchased a new position in HudBay Minerals during the second quarter worth $28,000. Allworth Financial LP raised its stake in shares of HudBay Minerals by 107.9% in the third quarter. Allworth Financial LP now owns 1,990 shares of the mining company’s stock valued at $30,000 after acquiring an additional 1,033 shares during the period. Bard Associates Inc. purchased a new stake in shares of HudBay Minerals in the second quarter valued at $53,000. Quarry LP bought a new stake in shares of HudBay Minerals in the 3rd quarter worth about $38,000. Finally, IFP Advisors Inc bought a new stake in shares of HudBay Minerals in the 3rd quarter worth about $45,000. Hedge funds and other institutional investors own 57.82% of the company’s stock.

HudBay Minerals Price Performance

HBM opened at $30.08 on Monday. HudBay Minerals Inc has a 12-month low of $11.21 and a 12-month high of $32.15. The company has a current ratio of 2.24, a quick ratio of 1.93 and a debt-to-equity ratio of 0.17. The business’s fifty day simple moving average is $24.45 and its 200-day simple moving average is $24.42. The company has a market capitalization of $13.36 billion, a price-to-earnings ratio of 17.69, a PEG ratio of 0.46 and a beta of 1.48.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last announced its quarterly earnings results on Wednesday, July 29th. The mining company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.26 by $0.02. The firm had revenue of $631.30 million for the quarter, compared to analyst estimates of $632.43 million. HudBay Minerals had a return on equity of 9.47% and a net margin of 27.48%.The business’s revenue for the quarter was up 17.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.19 earnings per share. On average, equities research analysts anticipate that HudBay Minerals Inc will post 1.58 earnings per share for the current fiscal year.

HudBay Minerals Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Tuesday, September 8th will be issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.1%. The ex-dividend date is Tuesday, September 8th. HudBay Minerals’s dividend payout ratio is presently 1.76%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on HBM. Wall Street Zen cut HudBay Minerals from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Scotiabank reiterated an “outperform” rating on shares of HudBay Minerals in a research report on Thursday, July 30th. Citigroup reissued a “positive” rating on shares of HudBay Minerals in a research note on Wednesday, July 15th. Jefferies Financial Group restated a “buy” rating on shares of HudBay Minerals in a report on Monday, July 6th. Finally, Bank of America reduced their price target on shares of HudBay Minerals from $33.50 to $29.50 and set a “buy” rating on the stock in a research note on Thursday, July 9th. Eleven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $31.33.

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.