Caisse de depot et placement du Quebec Invests $20.62 Million in HudBay Minerals Inc $HBM

Caisse de depot et placement du Quebec purchased a new position in shares of HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 873,763 shares of the mining company’s stock, valued at approximately $20,625,000. Caisse de depot et placement du Quebec owned 0.20% of HudBay Minerals as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in HBM. FIL Ltd lifted its position in HudBay Minerals by 202.0% in the 4th quarter. FIL Ltd now owns 33,143,172 shares of the mining company’s stock worth $658,010,000 after buying an additional 22,169,339 shares in the last quarter. Invesco Ltd. grew its holdings in shares of HudBay Minerals by 0.4% during the 3rd quarter. Invesco Ltd. now owns 11,391,356 shares of the mining company’s stock valued at $172,693,000 after acquiring an additional 46,948 shares in the last quarter. Mackenzie Financial Corp grew its holdings in shares of HudBay Minerals by 116.1% during the 4th quarter. Mackenzie Financial Corp now owns 10,178,626 shares of the mining company’s stock valued at $202,327,000 after acquiring an additional 5,468,109 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of HudBay Minerals by 15.8% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 9,457,298 shares of the mining company’s stock worth $187,743,000 after acquiring an additional 1,293,023 shares during the last quarter. Finally, Royal Bank of Canada increased its stake in shares of HudBay Minerals by 7.8% in the first quarter. Royal Bank of Canada now owns 8,254,831 shares of the mining company’s stock worth $172,526,000 after acquiring an additional 597,422 shares during the last quarter. 57.82% of the stock is owned by hedge funds and other institutional investors.

HudBay Minerals Stock Down 3.2%

HBM stock opened at $29.38 on Friday. 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 $11.62 and a 1 year high of $32.15. The company has a fifty day simple moving average of $24.63 and a 200 day simple moving average of $24.60. The firm has a market cap of $13.05 billion, a PE ratio of 17.28, a PEG ratio of 0.46 and a beta of 1.48.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last issued its quarterly earnings data on Wednesday, July 29th. The mining company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.02. The firm 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 revenue for the quarter was up 17.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.19 earnings per share. Sell-side analysts anticipate that HudBay Minerals Inc will post 1.58 EPS for the current fiscal year.

HudBay Minerals Dividend Announcement

The business also recently declared 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 of this dividend is Tuesday, September 8th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.1%. HudBay Minerals’s payout ratio is currently 1.76%.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Weiss Ratings cut HudBay Minerals from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, August 13th. Barclays upped their target price on HudBay Minerals from $30.00 to $32.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 15th. Citigroup reiterated a “positive” rating on shares of HudBay Minerals in a report on Wednesday, July 15th. Wall Street Zen cut HudBay Minerals from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Finally, Jefferies Financial Group restated a “buy” rating on shares of HudBay Minerals in a report on Monday, July 6th. Eleven analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently 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.