HudBay Minerals Inc $HBM Stock: Triasima Portfolio Management inc. Raises Position

Triasima Portfolio Management inc. raised its stake in HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) by 4.2% during the third quarter, Holdings Channel.com reports. The firm owned 587,103 shares of the mining company’s stock after purchasing an additional 23,556 shares during the quarter. HudBay Minerals accounts for about 2.0% of Triasima Portfolio Management inc.’s portfolio, making the stock its 10th largest position. Triasima Portfolio Management inc.’s holdings in HudBay Minerals were worth $15,731,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the stock. Rakuten Securities Inc. purchased a new position in shares of HudBay Minerals in the 2nd quarter valued at about $28,000. Bullseye Investment Management LLC acquired a new position in shares of HudBay Minerals during the second quarter worth about $30,000. Fiduciary Financial Advisors purchased a new stake in shares of HudBay Minerals during the second quarter worth approximately $32,000. Integrated Wealth Concepts LLC purchased a new stake in shares of HudBay Minerals during the second quarter worth approximately $36,000. Finally, EFG International AG purchased a new stake in shares of HudBay Minerals during the second quarter worth approximately $38,000. Institutional investors and hedge funds own 57.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on HBM shares. Barclays reaffirmed an “overweight” rating on shares of HudBay Minerals in a report on Tuesday, October 6th. Weiss Ratings upgraded shares of HudBay Minerals from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, October 8th. Citigroup reiterated a “positive” rating on shares of HudBay Minerals in a report on Wednesday, July 15th. Wall Street Zen downgraded shares of HudBay Minerals from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Finally, Jefferies Financial Group restated a “buy” rating on shares of HudBay Minerals in a report on Monday, July 6th. Ten 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.

HudBay Minerals Stock Down 0.1%

HudBay Minerals stock opened at $24.22 on Friday. HudBay Minerals Inc has a 1-year low of $14.34 and a 1-year high of $32.15. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.24 and a quick ratio of 1.93. The stock has a market cap of $10.76 billion, a PE ratio of 14.25, a P/E/G ratio of 0.43 and a beta of 1.58. The stock’s fifty day moving average is $27.19 and its two-hundred day moving average is $25.38.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last announced its quarterly earnings results 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 company had revenue of $631.30 million during the quarter, compared to the consensus estimate of $632.43 million. HudBay Minerals had a return on equity of 9.47% and a net margin of 27.48%. HudBay Minerals’s revenue for the quarter was up 17.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.19 EPS. On average, sell-side analysts expect that HudBay Minerals Inc will post 1.43 EPS for the current fiscal year.

HudBay Minerals Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Tuesday, September 8th were issued a C$0.01 dividend. The ex-dividend date was Tuesday, September 8th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.2%. HudBay Minerals’s dividend payout ratio is presently 1.18%.

About HudBay Minerals

Hudbay Minerals Inc is a Canadian mining company focused primarily on the exploration, development, and operation of copper, zinc, gold, silver, and molybdenum deposits. The company’s products are used in infrastructure, manufacturing, technology, and energy-related applications. Hudbay is listed on the New York Stock Exchange and the Toronto Stock Exchange under the symbol HBM.

Hudbay operates mining and processing assets in Canada and Peru. Its Manitoba operations include the Lalor polymetallic mine and processing facilities in the Snow Lake region, which produce zinc, copper, gold, and silver.