TD Waterhouse Canada Inc. Has $11.06 Million Position in HudBay Minerals Inc $HBM

TD Waterhouse Canada Inc. raised its stake in HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) by 5.8% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 489,033 shares of the mining company’s stock after buying an additional 26,767 shares during the quarter. TD Waterhouse Canada Inc.’s holdings in HudBay Minerals were worth $11,064,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in HBM. Jones Financial Companies Lllp boosted 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 buying an additional 3,733 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of HudBay Minerals by 144.2% in the first quarter. Goldman Sachs Group Inc. now owns 7,281,095 shares of the mining company’s stock worth $55,264,000 after acquiring an additional 4,299,428 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of HudBay Minerals by 6.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 439,687 shares of the mining company’s stock worth $3,337,000 after acquiring an additional 27,944 shares in the last quarter. Geode Capital Management LLC boosted its position in HudBay Minerals by 7.4% during the second quarter. Geode Capital Management LLC now owns 221,685 shares of the mining company’s stock valued at $2,363,000 after purchasing an additional 15,235 shares during the last quarter. Finally, Creative Planning boosted its position in HudBay Minerals by 5.4% during the second quarter. Creative Planning now owns 25,067 shares of the mining company’s stock valued at $266,000 after purchasing an additional 1,289 shares during the last quarter. Hedge funds and other institutional investors own 57.82% of the company’s stock.

HudBay Minerals Price Performance

NYSE HBM opened at $27.45 on Friday. HudBay Minerals Inc has a fifty-two week low of $12.53 and a fifty-two week high of $32.15. The stock’s 50-day moving average is $24.93 and its two-hundred day moving average is $24.66. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.24 and a quick ratio of 1.93. The firm has a market cap of $12.19 billion, a P/E ratio of 16.15, a price-to-earnings-growth ratio of 0.41 and a beta of 1.54.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last announced its quarterly earnings results on Wednesday, July 29th. The mining company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.02. The company had revenue of $631.30 million during the quarter, compared to analysts’ expectations of $632.43 million. HudBay Minerals had a return on equity of 9.47% and a net margin of 27.48%.The business’s quarterly revenue was up 17.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.19 earnings per share. On average, analysts anticipate that HudBay Minerals Inc will post 1.51 earnings per share for the current fiscal year.

HudBay Minerals Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Barclays raised their price target on HudBay Minerals from $30.00 to $32.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 15th. Citigroup restated a “positive” rating on shares of HudBay Minerals in a report on Wednesday, July 15th. Bank of America cut 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 report on Thursday, July 9th. Jefferies Financial Group reiterated a “buy” rating on shares of HudBay Minerals in a research note on Monday, July 6th. Finally, Wall Street Zen downgraded shares of HudBay Minerals from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Eleven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $31.33.

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.