HudBay Minerals Inc $HBM Shares Acquired by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership raised its stake in shares of HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) by 15.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,457,298 shares of the mining company’s stock after acquiring an additional 1,293,023 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in HudBay Minerals were worth $187,743,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in HBM. Jones Financial Companies Lllp increased its position in shares of HudBay Minerals by 131.6% during the first 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. Goldman Sachs Group Inc. lifted its stake in 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 lifted its stake in HudBay Minerals by 6.8% in 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 during the last quarter. Geode Capital Management LLC lifted its stake in HudBay Minerals by 7.4% in the second quarter. Geode Capital Management LLC now owns 221,685 shares of the mining company’s stock worth $2,363,000 after acquiring an additional 15,235 shares during the last quarter. Finally, Creative Planning lifted its stake in HudBay Minerals by 5.4% in the second quarter. Creative Planning now owns 25,067 shares of the mining company’s stock worth $266,000 after acquiring an additional 1,289 shares during the last quarter. 57.82% of the stock is currently owned by institutional investors and hedge funds.

HudBay Minerals Stock Down 0.1%

HBM stock opened at $27.79 on Monday. The company has a fifty day moving average price of $25.26 and a 200 day moving average price of $23.06. HudBay Minerals Inc has a 12 month low of $8.93 and a 12 month high of $32.15. The company has a market cap of $11.04 billion, a price-to-earnings ratio of 16.74, a price-to-earnings-growth ratio of 0.32 and a beta of 1.43. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.36 and a quick ratio of 1.20.

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

HudBay Minerals Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Tuesday, June 9th will be given 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 yield of 0.1%. HudBay Minerals’s dividend payout ratio is presently 1.81%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on HBM. Barclays began coverage on shares of HudBay Minerals in a research note on Thursday, May 21st. They issued an “overweight” rating and a $30.00 price target for the company. Zacks Research downgraded shares of HudBay Minerals from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 17th. Weiss Ratings downgraded shares of HudBay Minerals from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, June 8th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of HudBay Minerals in a research note on Tuesday, April 21st. Finally, Wall Street Zen upgraded shares of HudBay Minerals from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $27.33.

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.