Connor Clark & Lunn Investment Management Ltd. Boosts Stake in HudBay Minerals Inc $HBM

Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) by 12.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,650,409 shares of the mining company’s stock after acquiring an additional 285,500 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.67% of HudBay Minerals worth $28,142,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of HBM. SBI Securities Co. Ltd. boosted its stake in shares of HudBay Minerals by 64.6% during the 1st quarter. SBI Securities Co. Ltd. now owns 3,773 shares of the mining company’s stock valued at $29,000 after buying an additional 1,481 shares during the last quarter. Banque Cantonale Vaudoise acquired a new stake in HudBay Minerals in the first quarter valued at $33,000. Jones Financial Companies Lllp boosted its stake in HudBay Minerals by 131.6% during the 1st quarter. Jones Financial Companies Lllp now owns 6,570 shares of the mining company’s stock valued at $50,000 after acquiring an additional 3,733 shares during the last quarter. Plato Investment Management Ltd bought a new position in HudBay Minerals during the 2nd quarter valued at $84,000. Finally, Headlands Technologies LLC acquired a new position in HudBay Minerals during the 1st quarter worth $92,000. 57.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on HBM. Weiss Ratings restated a “buy (b-)” rating on shares of HudBay Minerals in a research note on Wednesday, October 8th. Zacks Research upgraded HudBay Minerals from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 13th. Bank of America increased their target price on HudBay Minerals from $16.50 to $19.50 and gave the stock a “buy” rating in a report on Thursday, October 16th. Royal Bank Of Canada reiterated an “outperform” rating on shares of HudBay Minerals in a report on Thursday, August 14th. Finally, Wall Street Zen lowered HudBay Minerals from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 25th. Three research analysts have rated the stock with a Strong Buy rating and ten have issued a Buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $19.50.

HudBay Minerals Stock Up 2.5%

Shares of HudBay Minerals stock opened at $16.13 on Monday. The company has a current ratio of 1.03, a quick ratio of 0.86 and a debt-to-equity ratio of 0.20. The business’s 50 day simple moving average is $14.95 and its 200-day simple moving average is $11.48. The stock has a market capitalization of $6.39 billion, a price-to-earnings ratio of 22.10 and a beta of 1.58. HudBay Minerals Inc has a twelve month low of $5.95 and a twelve month high of $17.73.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last released its quarterly earnings data on Wednesday, August 13th. The mining company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.08. HudBay Minerals had a return on equity of 10.73% and a net margin of 13.13%.The business had revenue of $536.40 million during the quarter, compared to analyst estimates of $558.21 million. The business’s quarterly revenue was up 26.1% compared to the same quarter last year. Equities research analysts forecast that HudBay Minerals Inc will post 0.79 earnings per share for the current year.

HudBay Minerals Increases Dividend

The company also recently declared a semi-annual dividend, which was paid on Friday, September 19th. Stockholders of record on Tuesday, September 2nd were given a dividend of $0.0073 per share. This is an increase from HudBay Minerals’s previous semi-annual dividend of $0.01. This represents a dividend yield of 17.0%. The ex-dividend date was Tuesday, September 2nd. HudBay Minerals’s payout ratio is currently 1.37%.

HudBay Minerals Profile

Hudbay Minerals Inc, a diversified mining company, focuses on the exploration, development, operation, and optimization of properties in North and South America. It produces copper concentrates containing gold, silver, and molybdenum; gold concentrates containing zinc; zinc concentrates; molybdenum concentrates; and silver/gold doré.