Counterpoint Mutual Funds LLC Invests $614,000 in HudBay Minerals Inc $HBM

Counterpoint Mutual Funds LLC bought a new stake in shares of HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 29,365 shares of the mining company’s stock, valued at approximately $614,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bank of Nova Scotia raised its stake in HudBay Minerals by 662.0% during the third quarter. Bank of Nova Scotia now owns 4,273,384 shares of the mining company’s stock valued at $64,783,000 after purchasing an additional 3,712,572 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of HudBay Minerals by 10.4% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,502,218 shares of the mining company’s stock worth $159,111,000 after buying an additional 986,278 shares in the last quarter. Affinity Wealth Management LLC bought a new stake in shares of HudBay Minerals in the 4th quarter worth about $3,857,000. Artemis Investment Management LLP increased its holdings in shares of HudBay Minerals by 15.6% in the 4th quarter. Artemis Investment Management LLP now owns 5,709,453 shares of the mining company’s stock worth $113,355,000 after buying an additional 770,172 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of HudBay Minerals by 3.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 11,334,474 shares of the mining company’s stock valued at $171,832,000 after buying an additional 348,278 shares in the last quarter. 57.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Scotiabank reaffirmed an “outperform” rating on shares of HudBay Minerals in a report on Thursday, June 25th. Barclays assumed coverage on HudBay Minerals in a research note on Thursday, May 21st. They set an “overweight” rating and a $30.00 price objective on the stock. Wall Street Zen upgraded HudBay Minerals from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Weiss Ratings raised HudBay Minerals from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday. Finally, Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of HudBay Minerals in a research note on Tuesday, April 21st. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $27.33.

HudBay Minerals Trading Down 0.1%

HBM stock opened at $22.57 on Friday. HudBay Minerals Inc has a twelve month low of $8.93 and a twelve month high of $32.15. The stock has a market capitalization of $10.03 billion, a price-to-earnings ratio of 13.60, a price-to-earnings-growth ratio of 0.26 and a beta of 1.48. The company has a quick ratio of 1.20, a current ratio of 1.36 and a debt-to-equity ratio of 0.14. The firm’s fifty day simple moving average is $25.69 and its two-hundred day simple moving average is $23.86.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last released its earnings results on Friday, May 1st. The mining company reported $0.40 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $684.73 million. During the same quarter last year, the business earned $0.24 EPS. The business’s revenue was up 27.3% on a year-over-year basis. As a group, analysts anticipate that HudBay Minerals Inc will post 1.65 earnings per share for the current year.

HudBay Minerals Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Tuesday, June 9th were given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend was Tuesday, June 9th. HudBay Minerals’s dividend payout ratio is 1.20%.

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.