HudBay Minerals Inc $HBM Stock: Robeco Schweiz AG Raises Position

Robeco Schweiz AG raised its holdings in HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) by 2.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,253,650 shares of the mining company’s stock after purchasing an additional 30,650 shares during the period. Robeco Schweiz AG owned about 0.28% of HudBay Minerals worth $33,447,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Wellington Management Group LLP purchased a new position in shares of HudBay Minerals during the 2nd quarter valued at approximately $130,557,000. William Blair Investment Management LLC acquired a new stake in HudBay Minerals in the 2nd quarter valued at $99,536,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in HudBay Minerals in the 2nd quarter valued at $99,022,000. Bank of America Corp DE purchased a new stake in HudBay Minerals in the 2nd quarter worth $96,341,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in HudBay Minerals in the 2nd quarter worth $91,577,000. 57.82% of the stock is currently owned by hedge funds and other institutional investors.

HudBay Minerals Price Performance

HudBay Minerals stock opened at $21.96 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. The company has a 50-day moving average price of $26.69 and a 200 day moving average price of $25.44. HudBay Minerals Inc has a 12-month low of $14.34 and a 12-month high of $32.15. The stock has a market cap of $9.75 billion, a P/E ratio of 12.92, a PEG ratio of 0.40 and a beta of 1.58.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last posted its earnings results on Wednesday, July 29th. The mining company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.02. HudBay Minerals had a net margin of 27.48% and a return on equity of 9.47%. The company had revenue of $631.30 million for the quarter, compared to analyst estimates of $632.43 million. During the same period in the previous year, the business posted $0.19 EPS. HudBay Minerals’s revenue was up 17.7% on a year-over-year basis. Sell-side analysts anticipate that HudBay Minerals Inc will post 1.40 earnings per share for the current year.

HudBay Minerals Dividend Announcement

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

Wall Street Analyst Weigh In

HBM has been the subject of a number of research analyst reports. Barclays restated an “overweight” rating on shares of HudBay Minerals in a research report on Tuesday, October 6th. Weiss Ratings upgraded shares of HudBay Minerals from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. Citigroup reiterated a “positive” rating on shares of HudBay Minerals in a research report on Wednesday, July 15th. Wall Street Zen cut shares of HudBay Minerals from a “buy” rating to a “hold” rating in a research note on Sunday. Finally, Jefferies Financial Group restated a “buy” rating on shares of HudBay Minerals in a research report on Monday, July 6th. Ten analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, HudBay Minerals currently has a consensus rating of “Moderate Buy” and a consensus target price of $31.33.

HudBay Minerals Company Profile

Hudbay Minerals Inc is a Canadian mining company focused primarily on the exploration, development, and operation of copper, gold, zinc, and silver deposits. Copper is its principal product, with associated precious and base metals produced from several of its operations.

The company operates in Canada, Peru, and the United States. Its assets include the Constancia copper-molybdenum mine in southern Peru; the Snow Lake operations in Manitoba, which produce copper, gold, zinc, and silver; and the Copper Mountain mine in British Columbia.