HudBay Minerals Inc $HBM Stock Holdings Lifted by Van ECK Associates Corp

Van ECK Associates Corp increased its position in shares of HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) by 68.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,172,033 shares of the mining company’s stock after acquiring an additional 1,294,482 shares during the quarter. Van ECK Associates Corp owned 0.71% of HudBay Minerals worth $74,895,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. FIL Ltd grew its position in HudBay Minerals by 202.0% during the 4th quarter. FIL Ltd now owns 33,143,172 shares of the mining company’s stock worth $658,010,000 after purchasing an additional 22,169,339 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in shares of HudBay Minerals in the third quarter valued at $123,736,000. Wellington Management Group LLP acquired a new stake in shares of HudBay Minerals in the second quarter worth $130,557,000. Mackenzie Financial Corp grew 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 valued at $202,327,000 after buying an additional 5,468,109 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of HudBay Minerals during the fourth quarter valued at $105,315,000. Hedge funds and other institutional investors own 57.82% of the company’s stock.

HudBay Minerals Stock Performance

Shares of NYSE HBM opened at $29.38 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.24 and a quick ratio of 1.93. HudBay Minerals Inc has a one year low of $11.62 and a one year high of $32.15. The business’s 50-day moving average price is $24.63 and its two-hundred day moving average price is $24.60. The company has a market capitalization of $13.05 billion, a P/E ratio of 17.28, a price-to-earnings-growth ratio of 0.45 and a beta of 1.48.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last posted its quarterly earnings results on Wednesday, July 29th. The mining company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.02. HudBay Minerals had a return on equity of 9.47% and a net margin of 27.48%.The company had revenue of $631.30 million during the quarter, compared to the consensus estimate of $632.43 million. During the same period last year, the business earned $0.19 EPS. The business’s quarterly revenue was up 17.7% on a year-over-year basis. Analysts anticipate that HudBay Minerals Inc will post 1.58 earnings per share for the current fiscal 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 is Tuesday, September 8th. This represents a $0.04 dividend on an annualized basis and a yield of 0.1%. HudBay Minerals’s dividend payout ratio is currently 1.76%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on HBM. Citigroup reissued a “positive” rating on shares of HudBay Minerals in a research note on Wednesday, July 15th. Bank of America dropped their target price on HudBay Minerals from $33.50 to $29.50 and set a “buy” rating on the stock in a report on Thursday, July 9th. Scotiabank reissued an “outperform” rating on shares of HudBay Minerals in a research report on Thursday, July 30th. Barclays raised their price target on shares of HudBay Minerals from $30.00 to $32.00 and gave the stock an “overweight” rating in a report on Wednesday, July 15th. Finally, Wall Street Zen downgraded shares of HudBay Minerals from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Eleven research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, HudBay Minerals presently has a consensus rating of “Moderate Buy” and an average target price of $31.33.

HudBay Minerals Company Profile

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.