Wellington Management Group LLP Purchases New Shares in HudBay Minerals Inc $HBM

Wellington Management Group LLP purchased a new position in HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 5,529,713 shares of the mining company’s stock, valued at approximately $130,557,000. Wellington Management Group LLP owned approximately 1.25% of HudBay Minerals at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Quantinno Capital Management LP lifted its stake in HudBay Minerals by 6.0% during the first quarter. Quantinno Capital Management LP now owns 11,597 shares of the mining company’s stock valued at $242,000 after buying an additional 657 shares in the last quarter. Vontobel Holding Ltd. increased its position in shares of HudBay Minerals by 0.6% in the fourth quarter. Vontobel Holding Ltd. now owns 126,090 shares of the mining company’s stock worth $2,503,000 after acquiring an additional 738 shares in the last quarter. Rockefeller Capital Management L.P. raised its holdings in shares of HudBay Minerals by 25.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 4,933 shares of the mining company’s stock valued at $98,000 after acquiring an additional 986 shares during the period. Wealthcare Advisory Partners LLC raised its holdings in shares of HudBay Minerals by 2.7% during the second quarter. Wealthcare Advisory Partners LLC now owns 37,766 shares of the mining company’s stock valued at $892,000 after acquiring an additional 992 shares during the period. Finally, Allworth Financial LP lifted its position in shares of HudBay Minerals by 107.9% in the 3rd 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 in the last quarter. Institutional investors and hedge funds own 57.82% of the company’s stock.

HudBay Minerals Stock Performance

HBM stock opened at $28.56 on Tuesday. The firm has a 50 day simple moving average of $24.64 and a 200 day simple moving average of $24.61. HudBay Minerals Inc has a 52 week low of $11.62 and a 52 week high of $32.15. The stock has a market cap of $12.68 billion, a P/E ratio of 16.80, a P/E/G ratio of 0.45 and a beta of 1.48. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.93 and a current ratio of 2.24.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last released its quarterly earnings data on Wednesday, July 29th. The mining company reported $0.28 earnings per share 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 net margin of 27.48% and a return on equity of 9.47%. The company’s revenue for the quarter was up 17.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.19 EPS. Research analysts anticipate that HudBay Minerals Inc will post 1.58 earnings per share for the current fiscal year.

HudBay Minerals Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Tuesday, September 8th will be paid a $0.01 dividend. The ex-dividend date of this dividend is Tuesday, September 8th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.1%. HudBay Minerals’s dividend payout ratio is 1.76%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on HBM shares. Scotiabank reiterated an “outperform” rating on shares of HudBay Minerals in a research report on Thursday, July 30th. Wall Street Zen lowered HudBay Minerals from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Barclays raised their target price on HudBay Minerals from $30.00 to $32.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 15th. Weiss Ratings downgraded HudBay Minerals from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, August 13th. Finally, Jefferies Financial Group reiterated a “buy” rating on shares of HudBay Minerals in a report on Monday, July 6th. Eleven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, HudBay Minerals currently has a consensus rating of “Moderate Buy” and a consensus target price 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.