Robotti Robert Invests $1.30 Million in HudBay Minerals Inc $HBM

Robotti Robert bought a new position in HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) during the 2nd quarter, HoldingsChannel reports. The fund bought 55,000 shares of the mining company’s stock, valued at approximately $1,299,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Allworth Financial LP raised its holdings in HudBay Minerals by 107.9% in the 3rd quarter. Allworth Financial LP now owns 1,990 shares of the mining company’s stock worth $30,000 after acquiring an additional 1,033 shares during the last quarter. Quarry LP bought a new position in HudBay Minerals in the 3rd quarter valued at approximately $38,000. IFP Advisors Inc purchased a new stake in HudBay Minerals during the 3rd quarter valued at $45,000. Banque Cantonale Vaudoise boosted its stake in HudBay Minerals by 513.5% during the 3rd quarter. Banque Cantonale Vaudoise now owns 3,172 shares of the mining company’s stock valued at $48,000 after purchasing an additional 2,655 shares during the last quarter. Finally, Kestra Advisory Services LLC bought a new stake in shares of HudBay Minerals in the 4th quarter worth $71,000. Institutional investors own 57.82% of the company’s stock.

HudBay Minerals Trading Down 3.7%

Shares of HBM stock opened at $26.41 on Wednesday. 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 12-month low of $10.72 and a 12-month high of $32.15. The stock has a market capitalization of $11.73 billion, a P/E ratio of 15.54, a P/E/G ratio of 0.41 and a beta of 1.48. The firm’s 50 day moving average is $24.32 and its 200 day moving average is $24.34.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last announced its earnings results on Wednesday, July 29th. The mining company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.02. The business had revenue of $631.30 million during the quarter, compared to analyst estimates of $632.43 million. HudBay Minerals had a net margin of 27.48% and a return on equity of 9.47%. The company’s quarterly revenue was up 17.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.19 EPS. Research analysts expect that HudBay Minerals Inc will post 1.58 earnings per share for the current year.

HudBay Minerals Dividend Announcement

The company also recently disclosed 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 of this dividend is Tuesday, September 8th. This represents a $0.04 annualized dividend and a dividend yield of 0.2%. HudBay Minerals’s payout ratio is presently 1.18%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on HBM shares. Weiss Ratings cut HudBay Minerals from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, August 13th. Scotiabank reaffirmed an “outperform” rating on shares of HudBay Minerals in a research report on Thursday, July 30th. Wall Street Zen downgraded HudBay Minerals from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Jefferies Financial Group reiterated a “buy” rating on shares of HudBay Minerals in a report on Monday, July 6th. Finally, Barclays boosted 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. Eleven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $31.33.

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.