Acasta Partners UK LLP Buys New Position in HudBay Minerals Inc $HBM

Acasta Partners UK LLP bought a new stake in shares of HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) in the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 91,700 shares of the mining company’s stock, valued at approximately $1,820,000. HudBay Minerals accounts for 0.6% of Acasta Partners UK LLP’s investment portfolio, making the stock its 11th biggest position.

Several other hedge funds have also recently added to or reduced their stakes in the business. Kestra Advisory Services LLC bought a new stake in HudBay Minerals during the 4th quarter valued at approximately $71,000. CANADA LIFE ASSURANCE Co boosted its stake in HudBay Minerals by 4.3% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 157,938 shares of the mining company’s stock valued at $3,127,000 after purchasing an additional 6,451 shares during the period. Hudson Bay Capital Management LP bought a new stake in HudBay Minerals during the 4th quarter valued at approximately $1,489,000. Ridge Creek Global Inc bought a new stake in HudBay Minerals during the 4th quarter valued at approximately $816,000. Finally, Bank of Nova Scotia boosted its stake in HudBay Minerals by 79.2% during the 4th quarter. Bank of Nova Scotia now owns 7,659,783 shares of the mining company’s stock valued at $152,047,000 after purchasing an additional 3,386,399 shares during the period. Institutional investors own 57.82% of the company’s stock.

HudBay Minerals Price Performance

Shares of HBM stock opened at $27.79 on Friday. The stock has a 50 day moving average of $25.26 and a two-hundred day moving average of $23.01. The company has a current ratio of 1.36, a quick ratio of 1.20 and a debt-to-equity ratio of 0.14. HudBay Minerals Inc has a 12 month low of $8.93 and a 12 month high of $32.15. The company has a market capitalization of $11.04 billion, a P/E ratio of 16.74, a P/E/G ratio of 0.32 and a beta of 1.43.

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

HudBay Minerals Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Tuesday, June 9th will be issued a $0.01 dividend. The ex-dividend date of this dividend is Tuesday, June 9th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.1%. HudBay Minerals’s dividend payout ratio is presently 1.81%.

Analyst Ratings Changes

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

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.