Temasek Holdings Private Ltd Has $23.77 Million Position in HudBay Minerals Inc $HBM

Temasek Holdings Private Ltd raised its stake in HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) by 42.2% in the 1st quarter, Holdings Channel.com reports. The fund owned 1,138,071 shares of the mining company’s stock after buying an additional 337,543 shares during the quarter. Temasek Holdings Private Ltd’s holdings in HudBay Minerals were worth $23,774,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Affinity Wealth Management LLC acquired a new position in HudBay Minerals in the fourth quarter valued at about $3,857,000. Artemis Investment Management LLP grew its stake in HudBay Minerals by 15.6% during the fourth quarter. Artemis Investment Management LLP now owns 5,709,453 shares of the mining company’s stock worth $113,355,000 after buying an additional 770,172 shares in the last quarter. Goehring & Rozencwajg Associates LLC grew its stake in HudBay Minerals by 6.6% during the fourth quarter. Goehring & Rozencwajg Associates LLC now owns 824,951 shares of the mining company’s stock worth $16,380,000 after buying an additional 51,387 shares in the last quarter. Maxi Investments CY Ltd bought a new position in HudBay Minerals in the 4th quarter valued at about $993,000. Finally, Louisbourg Investments Inc. bought a new position in HudBay Minerals in the 4th quarter valued at about $5,247,000. 57.82% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently weighed in on HBM shares. Wall Street Zen raised shares of HudBay Minerals from a “hold” rating to a “buy” rating in a report on Monday. Bank of America decreased their price objective on shares of HudBay Minerals from $33.50 to $29.50 and set a “buy” rating on the stock in a research note on Thursday, July 9th. Jefferies Financial Group restated a “buy” rating on shares of HudBay Minerals in a research report on Monday, July 6th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of HudBay Minerals in a report on Tuesday, April 21st. Finally, Barclays lifted their price target on HudBay Minerals from $30.00 to $32.00 and gave the company an “overweight” rating in a research note on Wednesday, July 15th. Eleven analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, HudBay Minerals presently has an average rating of “Moderate Buy” and an average price target of $31.33.

HudBay Minerals Stock Up 10.1%

HBM stock opened at $22.95 on Wednesday. The firm has a 50-day moving average price of $25.09 and a 200-day moving average price of $24.07. HudBay Minerals Inc has a 12 month low of $8.93 and a 12 month high of $32.15. The company has a current ratio of 1.36, a quick ratio of 1.20 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $10.19 billion, a P/E ratio of 13.83, a price-to-earnings-growth ratio of 0.31 and a beta of 1.48.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last announced its quarterly earnings results on Friday, May 1st. The mining company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.06. The company had revenue of $757.30 million for the quarter, compared to analyst estimates of $684.73 million. HudBay Minerals had a net margin of 27.75% and a return on equity of 10.04%. The firm’s revenue was up 27.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.24 EPS. As a group, equities research analysts anticipate that HudBay Minerals Inc will post 1.61 EPS for the current fiscal year.

HudBay Minerals Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Tuesday, June 9th were given a $0.01 dividend. The ex-dividend date was Tuesday, June 9th. This represents a $0.04 dividend on an annualized basis and a yield of 0.2%. HudBay Minerals’s dividend payout ratio (DPR) is currently 1.81%.

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.