K.J. Harrison & Partners Inc Makes New $1.68 Million Investment in HudBay Minerals Inc $HBM

K.J. Harrison & Partners Inc purchased a new stake in shares of HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 108,950 shares of the mining company’s stock, valued at approximately $1,683,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of HBM. GMT Capital Corp purchased a new stake in HudBay Minerals during the second quarter valued at $337,809,000. Vanguard Group Inc. grew its stake in shares of HudBay Minerals by 2.4% during the 3rd quarter. Vanguard Group Inc. now owns 16,198,255 shares of the mining company’s stock valued at $245,355,000 after purchasing an additional 373,399 shares during the period. L1 Capital Pty Ltd increased its position in shares of HudBay Minerals by 4.4% during the 2nd quarter. L1 Capital Pty Ltd now owns 15,054,087 shares of the mining company’s stock valued at $159,864,000 after purchasing an additional 630,703 shares during the last quarter. Hancock Prospecting Pty Ltd bought a new position in shares of HudBay Minerals in the 2nd quarter worth approximately $154,359,000. Finally, Invesco Ltd. lifted its stake in shares of HudBay Minerals by 8.7% in the 2nd quarter. Invesco Ltd. now owns 11,344,408 shares of the mining company’s stock worth $120,364,000 after purchasing an additional 903,517 shares during the period. 57.82% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

HBM has been the subject of a number of research reports. Raymond James Financial reaffirmed an “outperform” rating on shares of HudBay Minerals in a report on Wednesday, January 14th. Scotiabank restated an “outperform” rating on shares of HudBay Minerals in a research note on Monday, January 26th. Weiss Ratings upgraded HudBay Minerals from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, February 10th. Jefferies Financial Group reissued a “buy” rating on shares of HudBay Minerals in a report on Sunday, December 7th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating on shares of HudBay Minerals in a research note on Monday, November 17th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $26.00.

HudBay Minerals Price Performance

Shares of HudBay Minerals stock opened at $27.71 on Thursday. The company has a market capitalization of $11.00 billion, a price-to-earnings ratio of 19.38, a PEG ratio of 0.70 and a beta of 1.33. The company has a quick ratio of 0.76, a current ratio of 0.95 and a debt-to-equity ratio of 0.18. The stock’s 50-day simple moving average is $23.35 and its 200-day simple moving average is $17.86. HudBay Minerals Inc has a 52 week low of $5.95 and a 52 week high of $28.74.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last issued its earnings results on Friday, February 20th. The mining company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.18). HudBay Minerals had a net margin of 25.71% and a return on equity of 8.91%. The business had revenue of $732.90 million for the quarter, compared to the consensus estimate of $730.13 million. During the same period last year, the business posted $0.18 EPS. The firm’s revenue for the quarter was up 25.3% compared to the same quarter last year. As a group, analysts expect that HudBay Minerals Inc will post 0.79 earnings per share for the current fiscal year.

HudBay Minerals Announces Dividend

The business also recently announced a dividend, which will be paid on Friday, March 27th. Investors of record on Tuesday, March 10th will be given a dividend of $0.01 per share. The ex-dividend date is Tuesday, March 10th. This represents a dividend yield of 8.0%. HudBay Minerals’s dividend payout ratio is currently 0.70%.

About HudBay Minerals

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.