MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Buys 986,278 Shares of HudBay Minerals Inc $HBM

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) by 10.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,502,218 shares of the mining company’s stock after purchasing an additional 986,278 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 2.65% of HudBay Minerals worth $159,111,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. GMT Capital Corp purchased a new position in HudBay Minerals in the second quarter valued at about $337,809,000. Vanguard Group Inc. lifted its position in shares of HudBay Minerals by 2.4% during the third quarter. Vanguard Group Inc. now owns 16,198,255 shares of the mining company’s stock valued at $245,355,000 after buying an additional 373,399 shares during the last quarter. L1 Capital Pty Ltd lifted its position in shares of HudBay Minerals by 4.4% during the second quarter. L1 Capital Pty Ltd now owns 15,054,087 shares of the mining company’s stock valued at $159,864,000 after buying an additional 630,703 shares during the last quarter. Hancock Prospecting Pty Ltd bought a new stake in shares of HudBay Minerals in the 2nd quarter valued at about $154,359,000. Finally, Invesco Ltd. boosted its holdings in shares of HudBay Minerals by 0.4% in the 3rd quarter. Invesco Ltd. now owns 11,391,356 shares of the mining company’s stock valued at $172,693,000 after buying an additional 46,948 shares in the last quarter. Institutional investors own 57.82% of the company’s stock.

HudBay Minerals Price Performance

Shares of HBM stock opened at $21.12 on Tuesday. HudBay Minerals Inc has a fifty-two week low of $5.95 and a fifty-two week high of $28.74. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.78 and a current ratio of 0.95. The firm has a market capitalization of $8.38 billion, a price-to-earnings ratio of 14.77, a PEG ratio of 0.28 and a beta of 1.27. The stock’s 50-day simple moving average is $24.38 and its 200-day simple moving average is $19.07.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last announced its quarterly earnings data on Friday, February 20th. The mining company reported $0.22 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.18). The company had revenue of $732.90 million during the quarter, compared to analysts’ expectations of $730.13 million. HudBay Minerals had a net margin of 25.71% and a return on equity of 8.91%. The business’s revenue for the quarter was up 25.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.18 earnings per share. As a group, equities analysts forecast that HudBay Minerals Inc will post 0.79 earnings per share for the current fiscal year.

HudBay Minerals Dividend Announcement

The business also recently declared a dividend, which will be paid on Friday, March 27th. Shareholders of record on Tuesday, March 10th will be paid a dividend of $0.01 per share. The ex-dividend date is Tuesday, March 10th. This represents a yield of 9.0%. HudBay Minerals’s dividend payout ratio is presently 0.70%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on HBM shares. National Bank Financial downgraded shares of HudBay Minerals from an “outperform” rating to a “sector perform” rating in a research report on Wednesday, January 28th. Wall Street Zen downgraded shares of HudBay Minerals from a “buy” rating to a “hold” rating in a research note on Sunday, March 1st. Raymond James Financial reaffirmed an “outperform” rating on shares of HudBay Minerals in a report on Wednesday, January 14th. Weiss Ratings raised HudBay Minerals from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, February 10th. Finally, Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of HudBay Minerals in a report on Thursday, January 15th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $26.00.

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.