HighTower Advisors LLC Purchases 24,451 Shares of HudBay Minerals Inc $HBM

HighTower Advisors LLC raised its position in HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) by 10.4% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 258,606 shares of the mining company’s stock after purchasing an additional 24,451 shares during the period. HighTower Advisors LLC’s holdings in HudBay Minerals were worth $3,920,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the company. GMT Capital Corp bought a new position in shares of HudBay Minerals in the second quarter valued at approximately $337,809,000. Hancock Prospecting Pty Ltd purchased a new position in HudBay Minerals in the second quarter worth $154,359,000. Picton Mahoney Asset Management purchased a new position in HudBay Minerals in the second quarter worth $61,432,000. Norges Bank bought a new position in HudBay Minerals in the 2nd quarter valued at $60,053,000. Finally, Goldman Sachs Group Inc. increased its position in shares of HudBay Minerals by 144.2% during the 1st 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 last quarter. Institutional investors own 57.82% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on HBM. Wall Street Zen raised shares of HudBay Minerals from a “hold” rating to a “buy” rating in a report on Saturday. Citigroup lifted their price objective on shares of HudBay Minerals from $23.00 to $32.50 and gave the stock a “buy” rating in a research report on Wednesday, February 11th. Scotiabank reissued an “outperform” rating on shares of HudBay Minerals in a research report on Monday, January 26th. Royal Bank Of Canada restated an “outperform” rating on shares of HudBay Minerals in a research note on Monday, November 17th. Finally, Zacks Research cut shares of HudBay Minerals from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 17th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, HudBay Minerals currently has a consensus rating of “Buy” and an average target price of $26.00.

HudBay Minerals Price Performance

Shares of NYSE:HBM opened at $27.79 on Wednesday. The firm has a market capitalization of $11.03 billion, a PE ratio of 19.44, a P/E/G ratio of 0.66 and a beta of 1.33. The company has a quick ratio of 0.76, a current ratio of 0.97 and a debt-to-equity ratio of 0.18. The company has a 50-day moving average price of $23.17 and a two-hundred day moving average price of $17.79. HudBay Minerals Inc has a twelve month low of $5.95 and a twelve month high of $28.74.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last announced its quarterly earnings results on Friday, February 20th. The mining company reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.18). The business had revenue of $732.90 million for the quarter, compared to analysts’ expectations of $730.13 million. HudBay Minerals had a net margin of 25.71% and a return on equity of 9.16%. The business’s quarterly revenue was up 25.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.18 earnings per share. Equities analysts forecast that HudBay Minerals Inc will post 0.79 EPS for the current year.

HudBay Minerals Dividend Announcement

The business also recently declared a dividend, which will be paid on Friday, March 27th. Stockholders of record on Tuesday, March 10th will be issued a $0.01 dividend. This represents a dividend yield of 8.0%. The ex-dividend date of this dividend is Tuesday, March 10th. HudBay Minerals’s dividend payout ratio (DPR) is presently 0.70%.

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.