HudBay Minerals Inc $HBM is Orchard Capital Management LLC’s 2nd Largest Position

Orchard Capital Management LLC grew its position in HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) by 6.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 437,527 shares of the mining company’s stock after acquiring an additional 26,704 shares during the quarter. HudBay Minerals accounts for 5.7% of Orchard Capital Management LLC’s portfolio, making the stock its 2nd biggest holding. Orchard Capital Management LLC owned approximately 0.11% of HudBay Minerals worth $6,633,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Global Retirement Partners LLC bought a new stake in HudBay Minerals in the third quarter worth $45,000. Jones Financial Companies Lllp lifted its position in HudBay Minerals by 131.6% during the first quarter. Jones Financial Companies Lllp now owns 6,570 shares of the mining company’s stock valued at $50,000 after purchasing an additional 3,733 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new position in shares of HudBay Minerals in the 2nd quarter worth $116,000. Verus Capital Partners LLC bought a new stake in shares of HudBay Minerals in the 3rd quarter worth about $152,000. Finally, Semanteon Capital Management LP purchased a new stake in shares of HudBay Minerals during the 3rd quarter valued at about $165,000. 57.82% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on HBM. Scotiabank reiterated an “outperform” rating on shares of HudBay Minerals in a research report on Monday, January 26th. Weiss Ratings raised HudBay Minerals from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, February 10th. National Bank Financial downgraded HudBay Minerals from an “outperform” rating to a “sector perform” rating in a research report on Wednesday, January 28th. Raymond James Financial reissued an “outperform” rating on shares of HudBay Minerals in a research report on Wednesday, January 14th. Finally, Zacks Research downgraded HudBay Minerals from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 17th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $26.00.

HudBay Minerals Stock Down 7.2%

Shares of NYSE:HBM opened at $23.02 on Friday. The firm has a market capitalization of $9.14 billion, a PE ratio of 16.10, a price-to-earnings-growth ratio of 0.34 and a beta of 1.27. The business has a 50 day simple moving average of $24.11 and a two-hundred day simple moving average of $18.45. HudBay Minerals Inc has a 1 year low of $5.95 and a 1 year high of $28.74. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.95 and a quick ratio of 0.78.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last issued its quarterly earnings results on Friday, February 20th. The mining company reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.18). HudBay Minerals had a return on equity of 8.91% and a net margin of 25.71%.The business had revenue of $732.90 million for the quarter, compared to the consensus estimate of $730.13 million. During the same period in the prior year, the business posted $0.18 earnings per share. HudBay Minerals’s revenue was up 25.3% on a year-over-year basis. On average, equities analysts predict that HudBay Minerals Inc will post 0.79 EPS for the current year.

HudBay Minerals Dividend Announcement

The firm also recently announced a dividend, which will be paid on Friday, March 27th. Stockholders of record on Tuesday, March 10th will be given a dividend of $0.01 per share. This represents a dividend yield of 8.0%. The ex-dividend date is Tuesday, March 10th. HudBay Minerals’s dividend payout ratio (DPR) is 0.70%.

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.