Cvfg LLC Buys Shares of 36,470 HudBay Minerals Inc $HBM

Cvfg LLC bought a new position in shares of HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 36,470 shares of the mining company’s stock, valued at approximately $762,000.

Other institutional investors have also made changes to their positions in the company. Bank of Nova Scotia raised its holdings in shares of HudBay Minerals by 662.0% in the 3rd quarter. Bank of Nova Scotia now owns 4,273,384 shares of the mining company’s stock valued at $64,783,000 after buying an additional 3,712,572 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in HudBay Minerals by 10.4% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,502,218 shares of the mining company’s stock worth $159,111,000 after purchasing an additional 986,278 shares during the period. Affinity Wealth Management LLC purchased a new stake in HudBay Minerals during the fourth quarter worth about $3,857,000. Artemis Investment Management LLP lifted its position in shares of 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 purchasing an additional 770,172 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of HudBay Minerals by 145.3% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,502,180 shares of the mining company’s stock worth $98,466,000 after purchasing an additional 3,851,771 shares in the last quarter. 57.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on HBM shares. Scotiabank restated an “outperform” rating on shares of HudBay Minerals in a report on Thursday, June 25th. Wall Street Zen raised shares of HudBay Minerals from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Jefferies Financial Group reissued a “buy” rating on shares of HudBay Minerals in a research report on Monday. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of HudBay Minerals in a research note on Tuesday, April 21st. Finally, Weiss Ratings upgraded HudBay Minerals from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, June 29th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $27.33.

HudBay Minerals Trading Down 4.3%

Shares of NYSE:HBM opened at $20.61 on Thursday. HudBay Minerals Inc has a 52 week low of $8.93 and a 52 week high of $32.15. The company’s 50 day moving average is $25.54 and its two-hundred day moving average is $23.96. 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 company has a market cap of $9.16 billion, a PE ratio of 12.42, a P/E/G ratio of 0.25 and a beta of 1.48.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last announced its quarterly earnings data on Friday, May 1st. The mining company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates 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 net margin of 27.75% and a return on equity of 10.04%. The company’s revenue was up 27.3% on a year-over-year basis. During the same period last year, the business earned $0.24 EPS. Equities analysts predict that HudBay Minerals Inc will post 1.63 earnings per share for the current fiscal year.

HudBay Minerals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Tuesday, June 9th were issued a $0.01 dividend. The ex-dividend date was Tuesday, June 9th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.2%. HudBay Minerals’s dividend payout ratio is presently 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.