Infrastructure Capital Advisors LLC Purchases Shares of 27,686 HudBay Minerals Inc $HBM

Infrastructure Capital Advisors LLC acquired a new position in HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 27,686 shares of the mining company’s stock, valued at approximately $654,000.

A number of other large investors have also modified their holdings of the company. Rakuten Securities Inc. bought a new position in HudBay Minerals in the second quarter worth $28,000. Allworth Financial LP boosted its position in shares of HudBay Minerals by 107.9% during 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. Quarry LP acquired a new stake in shares of HudBay Minerals during the 3rd quarter valued at about $38,000. IFP Advisors Inc bought a new stake in HudBay Minerals in the third quarter valued at about $45,000. Finally, Banque Cantonale Vaudoise raised its position in HudBay Minerals by 513.5% in the third quarter. Banque Cantonale Vaudoise now owns 3,172 shares of the mining company’s stock worth $48,000 after purchasing an additional 2,655 shares in the last quarter. 57.82% of the stock is currently owned by institutional investors and hedge funds.

HudBay Minerals Price Performance

Shares of HudBay Minerals stock opened at $30.08 on Monday. The stock has a market capitalization of $13.36 billion, a price-to-earnings ratio of 17.69, a P/E/G ratio of 0.46 and a beta of 1.48. The firm’s 50-day moving average price is $24.45 and its two-hundred day moving average price is $24.42. The company has a current ratio of 2.24, a quick ratio of 1.93 and a debt-to-equity ratio of 0.17. HudBay Minerals Inc has a 1-year low of $11.21 and a 1-year high of $32.15.

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

HudBay Minerals Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Wall Street Zen cut shares of HudBay Minerals from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Barclays increased their target price on HudBay Minerals from $30.00 to $32.00 and gave the stock an “overweight” rating in a report on Wednesday, July 15th. Bank of America cut their target price on HudBay Minerals from $33.50 to $29.50 and set a “buy” rating for the company in a research report on Thursday, July 9th. Scotiabank reaffirmed an “outperform” rating on shares of HudBay Minerals in a research note on Thursday, July 30th. Finally, Weiss Ratings cut HudBay Minerals from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, August 13th. Eleven investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, HudBay Minerals presently has an average rating of “Moderate Buy” and a consensus price target of $31.33.

HudBay Minerals 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.