Stratos Wealth Advisors LLC Takes Position in HudBay Minerals Inc $HBM

Stratos Wealth Advisors LLC bought a new stake in HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) during the 2nd quarter, HoldingsChannel reports. The fund bought 21,185 shares of the mining company’s stock, valued at approximately $225,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Millennium Management LLC lifted its stake in shares of HudBay Minerals by 298.5% in the first quarter. Millennium Management LLC now owns 6,115,053 shares of the mining company’s stock valued at $46,411,000 after purchasing an additional 4,580,718 shares during the period. L1 Capital Pty Ltd lifted its stake in shares of HudBay Minerals by 44.1% in the first quarter. L1 Capital Pty Ltd now owns 14,423,384 shares of the mining company’s stock valued at $109,365,000 after purchasing an additional 4,410,778 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of HudBay Minerals by 144.2% in the first quarter. Goldman Sachs Group Inc. now owns 7,281,095 shares of the mining company’s stock valued at $55,264,000 after purchasing an additional 4,299,428 shares during the period. EdgePoint Investment Group Inc. lifted its stake in shares of HudBay Minerals by 50.6% in the first quarter. EdgePoint Investment Group Inc. now owns 7,628,971 shares of the mining company’s stock valued at $57,848,000 after purchasing an additional 2,561,607 shares during the period. Finally, Carrhae Capital LLP acquired a new stake in shares of HudBay Minerals in the first quarter valued at about $14,244,000. Hedge funds and other institutional investors own 57.82% of the company’s stock.

HudBay Minerals Stock Performance

Shares of HBM opened at $16.43 on Tuesday. The company has a current ratio of 1.03, a quick ratio of 0.86 and a debt-to-equity ratio of 0.20. The stock has a market cap of $6.51 billion, a P/E ratio of 22.50 and a beta of 1.55. The company has a 50-day moving average of $13.72 and a two-hundred day moving average of $10.58. HudBay Minerals Inc has a 12-month low of $5.95 and a 12-month high of $17.73.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last announced its earnings results on Wednesday, August 13th. The mining company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.08. The company had revenue of $536.40 million during the quarter, compared to analysts’ expectations of $558.21 million. HudBay Minerals had a net margin of 13.13% and a return on equity of 10.73%. The company’s revenue was up 26.1% on a year-over-year basis. As a group, research analysts predict that HudBay Minerals Inc will post 0.79 EPS for the current fiscal year.

HudBay Minerals Increases Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Friday, September 19th. Stockholders of record on Tuesday, September 2nd were given a $0.0073 dividend. This is a boost from HudBay Minerals’s previous semi-annual dividend of $0.01. This represents a dividend yield of 17.0%. The ex-dividend date of this dividend was Tuesday, September 2nd. HudBay Minerals’s dividend payout ratio (DPR) is presently 1.37%.

Analyst Upgrades and Downgrades

HBM has been the subject of several recent analyst reports. Raymond James Financial reiterated an “outperform” rating on shares of HudBay Minerals in a research note on Friday, October 10th. Weiss Ratings reiterated a “buy (b-)” rating on shares of HudBay Minerals in a research note on Wednesday, October 8th. National Bankshares reiterated an “outperform” rating on shares of HudBay Minerals in a research note on Thursday, August 14th. The Goldman Sachs Group started coverage on shares of HudBay Minerals in a research note on Monday, September 8th. They issued a “buy” rating for the company. Finally, CIBC restated an “outperform” rating on shares of HudBay Minerals in a research report on Tuesday, July 15th. Three analysts have rated the stock with a Strong Buy rating and ten have issued a Buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $19.50.

HudBay Minerals Company Profile

Hudbay Minerals Inc, a diversified mining company, focuses on the exploration, development, operation, and optimization of properties in North and South America. It produces copper concentrates containing gold, silver, and molybdenum; gold concentrates containing zinc; zinc concentrates; molybdenum concentrates; and silver/gold doré.