Y Intercept Hong Kong Ltd Takes Position in HudBay Minerals Inc $HBM

Y Intercept Hong Kong Ltd acquired a new position in shares of HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 168,271 shares of the mining company’s stock, valued at approximately $3,517,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. FIL Ltd increased its holdings in shares of HudBay Minerals by 202.0% during the fourth quarter. FIL Ltd now owns 33,143,172 shares of the mining company’s stock worth $658,010,000 after buying an additional 22,169,339 shares in the last quarter. Invesco Ltd. boosted its position in HudBay Minerals by 0.4% during the 3rd quarter. Invesco Ltd. now owns 11,391,356 shares of the mining company’s stock worth $172,693,000 after buying an additional 46,948 shares during the period. Dimensional Fund Advisors LP increased its position in HudBay Minerals by 3.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 11,334,474 shares of the mining company’s stock valued at $171,832,000 after acquiring an additional 348,278 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of HudBay Minerals by 10.4% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,502,218 shares of the mining company’s stock valued at $159,111,000 after acquiring an additional 986,278 shares during the last quarter. Finally, Mackenzie Financial Corp lifted its holdings in shares of HudBay Minerals by 116.1% during the fourth quarter. Mackenzie Financial Corp now owns 10,178,626 shares of the mining company’s stock worth $202,327,000 after purchasing an additional 5,468,109 shares during the period. 57.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of HudBay Minerals in a report on Tuesday, April 21st. Jefferies Financial Group restated a “buy” rating on shares of HudBay Minerals in a research note on Monday. Wall Street Zen raised HudBay Minerals from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Barclays began coverage on HudBay Minerals in a report on Thursday, May 21st. They set an “overweight” rating and a $30.00 price objective for the company. Finally, Weiss Ratings raised shares of HudBay Minerals from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, June 29th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $27.33.

HudBay Minerals Stock Performance

HBM traded down $1.56 on Tuesday, hitting $21.78. The company’s stock had a trading volume of 1,569,588 shares, compared to its average volume of 5,929,384. HudBay Minerals Inc has a 12 month low of $8.93 and a 12 month high of $32.15. The company’s 50 day simple moving average is $25.68 and its 200-day simple moving average is $23.93. The company has a quick ratio of 1.20, a current ratio of 1.36 and a debt-to-equity ratio of 0.14. The firm has a market cap of $9.67 billion, a P/E ratio of 13.08, a price-to-earnings-growth ratio of 0.26 and a beta of 1.48.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last issued its quarterly earnings data on Friday, May 1st. The mining company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.34 by $0.06. HudBay Minerals had a net margin of 27.75% and a return on equity of 10.04%. The company had revenue of $757.30 million during the quarter, compared to analysts’ expectations of $684.73 million. During the same quarter in the previous year, the company earned $0.24 earnings per share. HudBay Minerals’s revenue for the quarter was up 27.3% on a year-over-year basis. Analysts forecast that HudBay Minerals Inc will post 1.65 EPS for the current year.

HudBay Minerals Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Tuesday, June 9th were paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend was Tuesday, June 9th. 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.