Vaughan Nelson Investment Management L.P. Purchases New Position in HudBay Minerals Inc $HBM

Vaughan Nelson Investment Management L.P. purchased a new position in HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 1,185,045 shares of the mining company’s stock, valued at approximately $24,767,000. Vaughan Nelson Investment Management L.P. owned 0.30% of HudBay Minerals at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Allworth Financial LP increased its position in shares of HudBay Minerals by 107.9% in the third quarter. Allworth Financial LP now owns 1,990 shares of the mining company’s stock valued at $30,000 after buying an additional 1,033 shares in the last quarter. Quarry LP purchased a new position in shares of HudBay Minerals during the 3rd quarter valued at approximately $38,000. IFP Advisors Inc purchased a new position in shares of HudBay Minerals during the 3rd quarter valued at approximately $45,000. Banque Cantonale Vaudoise lifted its position 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 buying an additional 2,655 shares in the last quarter. Finally, Kestra Advisory Services LLC acquired a new stake in HudBay Minerals in the 4th quarter valued at $71,000. Hedge funds and other institutional investors own 57.82% of the company’s stock.

HudBay Minerals Stock Up 1.1%

Shares of NYSE:HBM opened at $27.89 on Tuesday. HudBay Minerals Inc has a 52-week low of $8.93 and a 52-week high of $32.15. The stock has a market cap of $11.08 billion, a P/E ratio of 16.80, a PEG ratio of 0.32 and a beta of 1.43. The business has a fifty day moving average of $25.96 and a two-hundred day moving average of $23.55. The company has a quick ratio of 1.20, a current ratio of 1.36 and a debt-to-equity ratio of 0.14.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last posted its quarterly earnings results on Friday, May 1st. The mining company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.34 by $0.06. The business had revenue of $757.30 million for the quarter, compared to analyst estimates of $684.73 million. HudBay Minerals had a return on equity of 10.04% and a net margin of 27.75%.The company’s quarterly revenue was up 27.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.24 EPS. On average, research analysts expect that HudBay Minerals Inc will post 1.66 earnings per share for the current year.

HudBay Minerals Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Tuesday, June 9th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.1%. The ex-dividend date is Tuesday, June 9th. HudBay Minerals’s dividend payout ratio (DPR) is presently 1.81%.

Wall Street Analysts Forecast Growth

HBM has been the subject of several recent analyst reports. Wall Street Zen raised shares of HudBay Minerals from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of HudBay Minerals in a report on Tuesday, April 21st. Barclays initiated coverage on shares of HudBay Minerals in a research report on Thursday, May 21st. They issued an “overweight” rating and a $30.00 target price on the stock. Finally, Weiss Ratings cut shares of HudBay Minerals from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, June 8th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $27.33.

HudBay Minerals 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.