NewEdge Advisors LLC Boosts Position in HudBay Minerals Inc $HBM

NewEdge Advisors LLC increased its position in shares of HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) by 5,677.7% in the 1st quarter, Holdings Channel.com reports. The firm owned 27,502 shares of the mining company’s stock after acquiring an additional 27,026 shares during the quarter. NewEdge Advisors LLC’s holdings in HudBay Minerals were worth $575,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of HBM. Jones Financial Companies Lllp grew its stake in shares of HudBay Minerals by 131.6% in the 1st quarter. Jones Financial Companies Lllp now owns 6,570 shares of the mining company’s stock valued at $50,000 after buying an additional 3,733 shares during the period. Goldman Sachs Group Inc. raised 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 buying an additional 4,299,428 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of HudBay Minerals by 6.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 439,687 shares of the mining company’s stock valued at $3,337,000 after buying an additional 27,944 shares during the period. Geode Capital Management LLC lifted its holdings in HudBay Minerals by 7.4% in the second quarter. Geode Capital Management LLC now owns 221,685 shares of the mining company’s stock valued at $2,363,000 after acquiring an additional 15,235 shares during the last quarter. Finally, Creative Planning lifted its holdings in HudBay Minerals by 5.4% in the second quarter. Creative Planning now owns 25,067 shares of the mining company’s stock valued at $266,000 after acquiring an additional 1,289 shares during the last quarter. 57.82% of the stock is currently owned by institutional investors and hedge funds.

HudBay Minerals Trading Up 2.6%

Shares of HBM stock opened at $28.18 on Friday. HudBay Minerals Inc has a fifty-two week low of $10.97 and a fifty-two week high of $32.15. The company has a 50 day moving average price of $24.40 and a 200 day moving average price of $24.38. The stock has a market capitalization of $12.52 billion, a P/E ratio of 16.58, a price-to-earnings-growth ratio of 0.42 and a beta of 1.48. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.93 and a current ratio of 2.24.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last issued its quarterly earnings results on Wednesday, July 29th. The mining company reported $0.28 EPS for the quarter, beating the consensus estimate 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%. The firm’s revenue was up 17.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.19 EPS. Equities research analysts predict that HudBay Minerals Inc will post 1.58 EPS for the current fiscal year.

HudBay Minerals Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Tuesday, September 8th will be issued a $0.01 dividend. The ex-dividend date is Tuesday, September 8th. This represents a $0.04 dividend on an annualized basis and a yield of 0.1%. HudBay Minerals’s dividend payout ratio (DPR) is 1.76%.

Wall Street Analysts Forecast Growth

HBM has been the subject of several recent analyst reports. 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 note on Thursday, July 9th. Jefferies Financial Group reiterated a “buy” rating on shares of HudBay Minerals in a report on Monday, July 6th. Barclays raised their price objective on HudBay Minerals from $30.00 to $32.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 15th. Weiss Ratings lowered shares of HudBay Minerals from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, August 13th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of HudBay Minerals in a research report on Thursday, July 30th. Eleven equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $31.33.

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.