Leuthold Group LLC Takes $2.75 Million Position in HudBay Minerals Inc $HBM

Leuthold Group LLC acquired a new stake in shares of HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 138,738 shares of the mining company’s stock, valued at approximately $2,754,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Allworth Financial LP increased its stake in shares of HudBay Minerals by 107.9% during the 3rd quarter. Allworth Financial LP now owns 1,990 shares of the mining company’s stock valued at $30,000 after acquiring an additional 1,033 shares during the last quarter. Quarry LP acquired a new position in shares of HudBay Minerals during the 3rd quarter valued at about $38,000. IFP Advisors Inc acquired a new position in shares of HudBay Minerals during the 3rd quarter valued at about $45,000. Banque Cantonale Vaudoise increased its stake in shares of HudBay Minerals by 513.5% during the 3rd quarter. Banque Cantonale Vaudoise now owns 3,172 shares of the mining company’s stock valued at $48,000 after acquiring an additional 2,655 shares during the last quarter. Finally, Jones Financial Companies Lllp increased its stake in shares of 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. Institutional investors and hedge funds own 57.82% of the company’s stock.

HudBay Minerals Stock Down 0.0%

Shares of NYSE:HBM opened at $24.95 on Monday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.20 and a current ratio of 1.36. HudBay Minerals Inc has a 1 year low of $7.94 and a 1 year high of $28.74. The stock has a market capitalization of $9.91 billion, a P/E ratio of 15.03, a PEG ratio of 0.29 and a beta of 1.37. The stock has a 50-day simple moving average of $22.80 and a 200-day simple moving average of $21.51.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last issued its earnings results on Friday, May 1st. The mining company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.06. HudBay Minerals had a return on equity of 10.04% and a net margin of 27.75%.The business 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 business earned $0.24 EPS. The company’s revenue for the quarter was up 27.3% on a year-over-year basis. Equities analysts forecast that HudBay Minerals Inc will post 1.65 earnings per share for the current year.

HudBay Minerals Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Tuesday, June 9th will be issued a dividend of $0.01 per share. The ex-dividend date is Tuesday, June 9th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.2%. HudBay Minerals’s payout ratio is presently 0.60%.

Analysts Set New Price Targets

A number of research analysts have recently commented on HBM shares. Scotiabank reaffirmed an “outperform” rating on shares of HudBay Minerals in a research note on Monday, January 26th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of HudBay Minerals in a research note on Tuesday, April 21st. National Bank Financial downgraded shares of HudBay Minerals from an “outperform” rating to a “sector perform” rating in a research note on Wednesday, January 28th. Weiss Ratings raised shares of HudBay Minerals from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, February 10th. Finally, Citigroup boosted their target price on HudBay Minerals from $23.00 to $32.50 and gave the stock a “buy” rating in a report on Wednesday, February 11th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price 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.