Abacus Wealth Partners LLC Acquires New Holdings in HudBay Minerals Inc $HBM

Abacus Wealth Partners LLC acquired a new stake in HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 43,480 shares of the mining company’s stock, valued at approximately $863,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in HBM. Waterfront Wealth Inc. boosted its position in shares of HudBay Minerals by 1.0% in the fourth quarter. Waterfront Wealth Inc. now owns 39,451 shares of the mining company’s stock valued at $783,000 after acquiring an additional 399 shares during the period. Strong Tower Advisory Services raised its stake in HudBay Minerals by 0.6% in the fourth quarter. Strong Tower Advisory Services now owns 94,762 shares of the mining company’s stock valued at $1,881,000 after purchasing an additional 587 shares in the last quarter. Savant Capital LLC raised its stake in HudBay Minerals by 2.4% in the third quarter. Savant Capital LLC now owns 32,010 shares of the mining company’s stock valued at $485,000 after purchasing an additional 760 shares in the last quarter. Allworth Financial LP raised its stake in HudBay Minerals by 107.9% in the third quarter. Allworth Financial LP now owns 1,990 shares of the mining company’s stock valued at $30,000 after purchasing an additional 1,033 shares in the last quarter. Finally, Creative Planning raised 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 valued at $266,000 after purchasing an additional 1,289 shares in the last quarter. Institutional investors own 57.82% of the company’s stock.

Wall Street Analysts Forecast Growth

HBM has been the topic of a number of recent analyst reports. National Bank Financial downgraded shares of HudBay Minerals from an “outperform” rating to a “sector perform” rating in a research note on Wednesday, January 28th. Scotiabank reaffirmed an “outperform” rating on shares of HudBay Minerals in a research note on Monday, January 26th. Zacks Research downgraded shares of HudBay Minerals from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 17th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of HudBay Minerals in a research note on Tuesday, April 21st. Finally, Citigroup raised their target price on shares of HudBay Minerals from $23.00 to $32.50 and gave the company a “buy” rating in a research note on Wednesday, February 11th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $26.00.

HudBay Minerals Trading Down 8.6%

HBM stock opened at $24.95 on Friday. The company has a market capitalization of $9.91 billion, a PE ratio of 15.03, a price-to-earnings-growth ratio of 0.29 and a beta of 1.37. HudBay Minerals Inc has a one year low of $7.94 and a one year high of $28.74. The company’s 50 day moving average price is $22.80 and its two-hundred day moving average price is $21.47. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.20 and a current ratio of 1.36.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last posted its quarterly earnings results on Friday, May 1st. The mining company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.34 by $0.06. The firm had revenue of $757.30 million for the quarter, compared to the consensus estimate of $684.73 million. HudBay Minerals had a net margin of 27.75% and a return on equity of 10.04%. The business’s revenue was up 27.3% compared to the same quarter last year. During the same period last year, the firm posted $0.24 earnings per share. As a group, analysts predict that HudBay Minerals Inc will post 1.65 earnings per share for the current fiscal year.

HudBay Minerals Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Tuesday, June 9th will be paid a dividend of $0.01 per share. The ex-dividend date of this dividend is Tuesday, June 9th. This represents a $0.04 annualized dividend and a dividend yield of 0.2%. HudBay Minerals’s dividend payout ratio (DPR) is 0.60%.

About HudBay Minerals

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.