Twin Tree Management LP Invests $484,000 in HudBay Minerals Inc $HBM

Twin Tree Management LP bought a new position in shares of HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) during the fourth quarter, Holdings Channel.com reports. The fund bought 24,369 shares of the mining company’s stock, valued at approximately $484,000.

A number of other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of HudBay Minerals by 2.4% during the third quarter. Vanguard Group Inc. now owns 16,198,255 shares of the mining company’s stock worth $245,355,000 after purchasing an additional 373,399 shares during the period. Invesco Ltd. raised its position in shares of HudBay Minerals by 0.4% during the third quarter. Invesco Ltd. now owns 11,391,356 shares of the mining company’s stock worth $172,693,000 after purchasing an additional 46,948 shares during the period. Dimensional Fund Advisors LP raised its position in shares of HudBay Minerals by 3.2% during the third quarter. Dimensional Fund Advisors LP now owns 11,334,474 shares of the mining company’s stock worth $171,832,000 after purchasing an additional 348,278 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position 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 worth $159,111,000 after purchasing an additional 986,278 shares during the period. Finally, Arrowstreet Capital Limited Partnership acquired a new position in shares of HudBay Minerals during the third quarter worth approximately $123,736,000. 57.82% of the stock is owned by institutional investors and hedge funds.

HudBay Minerals Trading Down 2.1%

Shares of HudBay Minerals stock opened at $25.57 on Wednesday. HudBay Minerals Inc has a 1 year low of $8.93 and a 1 year high of $32.15. The firm has a market cap of $10.16 billion, a PE ratio of 15.41, a P/E/G ratio of 0.30 and a beta of 1.43. The stock has a fifty day moving average price of $24.92 and a 200-day moving average price of $22.82. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.36 and a quick ratio of 1.20.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last announced its earnings results on Friday, May 1st. The mining company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.06. HudBay Minerals had a return on equity of 10.04% and a net margin of 27.75%.The firm had revenue of $757.30 million during the quarter, compared to analyst estimates of $684.73 million. During the same period last year, the firm posted $0.24 EPS. The business’s revenue was up 27.3% compared to the same quarter last year. Equities research analysts anticipate that HudBay Minerals Inc will post 1.66 EPS for the current year.

HudBay Minerals Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Tuesday, June 9th will be paid a dividend of $0.01 per share. The ex-dividend date is Tuesday, June 9th. This represents a $0.04 annualized dividend and a dividend yield of 0.2%. HudBay Minerals’s dividend payout ratio is presently 0.60%.

Analysts Set New Price Targets

HBM has been the subject of a number of analyst reports. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of HudBay Minerals in a research report on Tuesday, April 21st. Weiss Ratings lowered HudBay Minerals from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday. Barclays initiated coverage on HudBay Minerals in a research report on Thursday, May 21st. They issued an “overweight” rating and a $30.00 price target for the company. Zacks Research lowered HudBay Minerals from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 17th. Finally, Wall Street Zen raised HudBay Minerals from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $27.33.

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.