HudBay Minerals Inc $HBM Shares Purchased by Van ECK Associates Corp

Van ECK Associates Corp raised its holdings in HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) by 299.7% during the third quarter, Holdings Channel.com reports. The firm owned 1,037,209 shares of the mining company’s stock after purchasing an additional 777,733 shares during the quarter. Van ECK Associates Corp’s holdings in HudBay Minerals were worth $15,721,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Waterfront Wealth Inc. raised its stake in shares of HudBay Minerals by 2.0% during the 3rd quarter. Waterfront Wealth Inc. now owns 39,052 shares of the mining company’s stock worth $588,000 after buying an additional 756 shares in the last quarter. Savant Capital LLC boosted its stake in shares of HudBay Minerals by 2.4% in the third quarter. Savant Capital LLC now owns 32,010 shares of the mining company’s stock valued at $485,000 after buying an additional 760 shares in the last quarter. Creative Planning grew its holdings in HudBay Minerals by 5.4% during the second quarter. Creative Planning now owns 25,067 shares of the mining company’s stock worth $266,000 after acquiring an additional 1,289 shares during the period. Strong Tower Advisory Services grew its holdings in HudBay Minerals by 2.4% during the third quarter. Strong Tower Advisory Services now owns 94,175 shares of the mining company’s stock worth $1,428,000 after acquiring an additional 2,182 shares during the period. 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 acquiring an additional 2,655 shares in the last quarter. Institutional investors and hedge funds own 57.82% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on HBM. Raymond James Financial restated an “outperform” rating on shares of HudBay Minerals in a research report on Wednesday, January 14th. Royal Bank Of Canada reiterated an “outperform” rating on shares of HudBay Minerals in a report on Monday, November 17th. Scotiabank reiterated an “outperform” rating on shares of HudBay Minerals in a research note on Monday, January 26th. Wall Street Zen lowered shares of HudBay Minerals from a “buy” rating to a “hold” rating in a research report on Sunday, March 1st. 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 research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, HudBay Minerals currently has an average rating of “Buy” and a consensus target price of $26.00.

HudBay Minerals Price Performance

NYSE:HBM traded down $0.86 during mid-day trading on Friday, hitting $20.99. 1,105,492 shares of the company’s stock traded hands, compared to its average volume of 6,399,895. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.78 and a current ratio of 0.95. The company has a market cap of $8.33 billion, a PE ratio of 14.66, a price-to-earnings-growth ratio of 0.31 and a beta of 1.27. The firm’s 50 day simple moving average is $24.37 and its 200 day simple moving average is $18.84. HudBay Minerals Inc has a 1 year low of $5.95 and a 1 year 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 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.18). The business had revenue of $732.90 million during 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 8.91%. The firm’s revenue for the quarter was up 25.3% on a year-over-year basis. During the same period last year, the company earned $0.18 EPS. Sell-side analysts expect that HudBay Minerals Inc will post 0.79 EPS for the current year.

HudBay Minerals Announces Dividend

The business also recently disclosed 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. This represents a dividend yield of 9.0%. The ex-dividend date is Tuesday, March 10th. HudBay Minerals’s payout ratio is currently 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.