151,350 Shares in HudBay Minerals Inc $HBM Purchased by K.J. Harrison & Partners Inc

K.J. Harrison & Partners Inc bought a new stake in shares of HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 151,350 shares of the mining company’s stock, valued at approximately $3,567,000.

A number of other hedge funds also recently modified their holdings of HBM. Allworth Financial LP lifted its position in HudBay Minerals by 107.9% in the third quarter. Allworth Financial LP now owns 1,990 shares of the mining company’s stock worth $30,000 after purchasing an additional 1,033 shares during the period. Quarry LP acquired a new position in HudBay Minerals in the third quarter valued at about $38,000. IFP Advisors Inc acquired a new position in shares of HudBay Minerals in the 3rd quarter worth approximately $45,000. Banque Cantonale Vaudoise grew its holdings in shares of HudBay Minerals by 513.5% during the third quarter. Banque Cantonale Vaudoise now owns 3,172 shares of the mining company’s stock worth $48,000 after purchasing an additional 2,655 shares during the last quarter. Finally, Jones Financial Companies Lllp grew its holdings in HudBay Minerals by 131.6% during the 1st quarter. Jones Financial Companies Lllp now owns 6,570 shares of the mining company’s stock worth $50,000 after acquiring an additional 3,733 shares during the last quarter. Institutional investors own 57.82% of the company’s stock.

HudBay Minerals Price Performance

NYSE:HBM opened at $27.42 on Tuesday. The stock’s 50 day moving average price is $24.30 and its two-hundred day moving average price is $24.35. HudBay Minerals Inc has a 12-month low of $10.72 and a 12-month high of $32.15. The firm has a market capitalization of $12.18 billion, a price-to-earnings ratio of 16.13, a P/E/G ratio of 0.41 and a beta of 1.48. The company has a quick ratio of 1.93, a current ratio of 2.24 and a debt-to-equity ratio of 0.17.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last released its quarterly earnings data on Wednesday, July 29th. The mining company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.26 by $0.02. The firm had revenue of $631.30 million for the quarter, compared to the consensus estimate of $632.43 million. HudBay Minerals had a net margin of 27.48% and a return on equity of 9.47%. The company’s quarterly revenue was up 17.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.19 earnings per share. On average, analysts anticipate that HudBay Minerals Inc will post 1.58 earnings per share for the current year.

HudBay Minerals Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Tuesday, September 8th will be issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.1%. The ex-dividend date of this dividend is Tuesday, September 8th. HudBay Minerals’s dividend payout ratio (DPR) is presently 1.76%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Wall Street Zen cut HudBay Minerals from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Bank of America decreased their price objective on shares of HudBay Minerals from $33.50 to $29.50 and set a “buy” rating for the company in a report on Thursday, July 9th. Jefferies Financial Group restated a “buy” rating on shares of HudBay Minerals in a report on Monday, July 6th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of HudBay Minerals in a research report on Tuesday, April 21st. Finally, Scotiabank reissued an “outperform” rating on shares of HudBay Minerals in a research report on Thursday, July 30th. Eleven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, HudBay Minerals presently has a consensus rating of “Moderate Buy” and a consensus price target of $31.33.

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.