HudBay Minerals Inc $HBM Holdings Boosted by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio grew its holdings in HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) by 9.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 786,244 shares of the mining company’s stock after purchasing an additional 70,814 shares during the period. Public Employees Retirement System of Ohio owned approximately 0.20% of HudBay Minerals worth $16,408,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Sei Investments Co. grew its holdings in shares of HudBay Minerals by 5.5% during the first quarter. Sei Investments Co. now owns 37,517 shares of the mining company’s stock valued at $784,000 after buying an additional 1,956 shares in the last quarter. First Trust Advisors LP lifted its stake in HudBay Minerals by 35.3% in the 1st quarter. First Trust Advisors LP now owns 229,948 shares of the mining company’s stock worth $4,814,000 after acquiring an additional 60,025 shares in the last quarter. Barometer Capital Management Inc. lifted its stake in HudBay Minerals by 259.0% in the 1st quarter. Barometer Capital Management Inc. now owns 33,750 shares of the mining company’s stock worth $705,000 after acquiring an additional 24,350 shares in the last quarter. Temasek Holdings Private Ltd boosted its position in HudBay Minerals by 42.2% during the 1st quarter. Temasek Holdings Private Ltd now owns 1,138,071 shares of the mining company’s stock worth $23,774,000 after acquiring an additional 337,543 shares during the period. Finally, Meeder Advisory Services Inc. acquired a new stake in HudBay Minerals during the 1st quarter worth about $224,000. Hedge funds and other institutional investors own 57.82% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Weiss Ratings raised HudBay Minerals from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, June 29th. Bank of America reduced their price target on shares of HudBay Minerals from $33.50 to $29.50 and set a “buy” rating for the company in a research report on Thursday, July 9th. Wall Street Zen upgraded shares of HudBay Minerals from a “hold” rating to a “buy” rating in a report on Monday, July 20th. Jefferies Financial Group reaffirmed a “buy” rating on shares of HudBay Minerals in a research report on Monday, July 6th. Finally, Barclays upped their price objective on shares of HudBay Minerals from $30.00 to $32.00 and gave the company an “overweight” rating in a research note on Wednesday, July 15th. Eleven 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, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $31.33.

HudBay Minerals Stock Down 1.2%

HBM opened at $22.36 on Friday. HudBay Minerals Inc has a fifty-two week low of $8.93 and a fifty-two week high of $32.15. The business has a 50-day moving average of $24.86 and a 200-day moving average of $24.10. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.36 and a quick ratio of 1.20. The company has a market capitalization of $9.93 billion, a PE ratio of 13.47, a price-to-earnings-growth ratio of 0.34 and a beta of 1.48.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last announced its quarterly earnings results on Friday, May 1st. The mining company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.06. The business had revenue of $757.30 million during the quarter, compared to analyst estimates of $684.73 million. HudBay Minerals had a return on equity of 10.04% and a net margin of 27.75%.The firm’s revenue was up 27.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.24 EPS. Equities research analysts forecast that HudBay Minerals Inc will post 1.6 EPS for the current fiscal year.

HudBay Minerals Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Tuesday, June 9th were paid a $0.01 dividend. The ex-dividend date 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 1.81%.

About HudBay Minerals

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.