SG Americas Securities LLC Buys Shares of 532,090 HudBay Minerals Inc $HBM

SG Americas Securities LLC purchased a new position in HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 532,090 shares of the mining company’s stock, valued at approximately $11,121,000.

Several other institutional investors and hedge funds have also modified their holdings of HBM. Picton Mahoney Asset Management raised its holdings in HudBay Minerals by 9.3% in the 3rd quarter. Picton Mahoney Asset Management now owns 6,350,482 shares of the mining company’s stock worth $96,171,000 after purchasing an additional 537,964 shares during the period. Bank of Nova Scotia lifted its position in HudBay Minerals by 662.0% during the third quarter. Bank of Nova Scotia now owns 4,273,384 shares of the mining company’s stock valued at $64,783,000 after purchasing an additional 3,712,572 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in 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 valued at $159,111,000 after purchasing an additional 986,278 shares during the period. Affinity Wealth Management LLC bought a new stake in HudBay Minerals during the fourth quarter valued at about $3,857,000. Finally, Artemis Investment Management LLP increased its position in HudBay Minerals by 15.6% in the fourth quarter. Artemis Investment Management LLP now owns 5,709,453 shares of the mining company’s stock worth $113,355,000 after buying an additional 770,172 shares in the last quarter. Hedge funds and other institutional investors own 57.82% of the company’s stock.

HudBay Minerals Trading Down 0.9%

Shares of HBM stock opened at $23.33 on Friday. HudBay Minerals Inc has a 52-week low of $8.93 and a 52-week high of $32.15. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.20 and a current ratio of 1.36. The firm has a market capitalization of $9.27 billion, a PE ratio of 14.05, a PEG ratio of 0.27 and a beta of 1.43. The stock has a fifty day simple moving average of $25.89 and a two-hundred day simple moving average of $23.69.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last announced its quarterly earnings data on Friday, May 1st. The mining company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.34 by $0.06. The business had revenue of $757.30 million for the quarter, compared to the consensus estimate of $684.73 million. HudBay Minerals had a return on equity of 10.04% and a net margin of 27.75%.The business’s revenue was up 27.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.24 earnings per share. On average, analysts predict that HudBay Minerals Inc will post 1.65 EPS for the current fiscal year.

HudBay Minerals Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Tuesday, June 9th were issued a $0.01 dividend. The ex-dividend date of this dividend was Tuesday, June 9th. This represents a $0.04 dividend on an annualized basis and a yield of 0.2%. HudBay Minerals’s payout ratio is currently 1.81%.

Analysts Set New Price Targets

HBM has been the topic of several recent research reports. Wall Street Zen raised HudBay Minerals from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Scotiabank reiterated an “outperform” rating on shares of HudBay Minerals in a research note on Thursday. Weiss Ratings lowered shares of HudBay Minerals from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, June 8th. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of HudBay Minerals in a research note on Tuesday, April 21st. Finally, Barclays began coverage on shares of HudBay Minerals in a report on Thursday, May 21st. They set an “overweight” rating and a $30.00 price target on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average 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.