Teachers Retirement System of The State of Kentucky Takes Position in HudBay Minerals Inc $HBM

Teachers Retirement System of The State of Kentucky acquired a new position in HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 220,340 shares of the mining company’s stock, valued at approximately $4,605,000.

Other hedge funds have also recently made changes to their positions in the company. FIL Ltd increased its holdings in HudBay Minerals by 202.0% in the 4th quarter. FIL Ltd now owns 33,143,172 shares of the mining company’s stock valued at $658,010,000 after purchasing an additional 22,169,339 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in HudBay Minerals during the third quarter worth $123,736,000. Mackenzie Financial Corp boosted its position in shares of HudBay Minerals by 116.1% during the fourth quarter. Mackenzie Financial Corp now owns 10,178,626 shares of the mining company’s stock worth $202,327,000 after buying an additional 5,468,109 shares during the period. Norges Bank purchased a new position in shares of HudBay Minerals during the fourth quarter worth $105,315,000. Finally, Goldman Sachs Group Inc. boosted its position in shares of HudBay Minerals by 144.2% during the first quarter. Goldman Sachs Group Inc. now owns 7,281,095 shares of the mining company’s stock worth $55,264,000 after buying an additional 4,299,428 shares during the period. Hedge funds and other institutional investors own 57.82% of the company’s stock.

HudBay Minerals Trading Up 7.7%

HBM opened at $22.48 on Wednesday. The business has a fifty day moving average price of $25.46 and a 200 day moving average price of $24.01. 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 Inc has a 12 month low of $8.93 and a 12 month high of $32.15. The stock has a market capitalization of $9.98 billion, a price-to-earnings ratio of 13.54, a PEG ratio of 0.31 and a beta of 1.48.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last posted its quarterly earnings results on Friday, May 1st. The mining company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.06. The company had revenue of $757.30 million for the quarter, compared to analyst estimates of $684.73 million. HudBay Minerals had a return on equity of 10.04% and a net margin of 27.75%.HudBay Minerals’s revenue for the quarter was up 27.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.24 EPS. Sell-side analysts expect that HudBay Minerals Inc will post 1.61 earnings per share for the current fiscal year.

HudBay Minerals Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Tuesday, June 9th were paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date was Tuesday, June 9th. HudBay Minerals’s dividend payout ratio is presently 1.81%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on HBM shares. Barclays started coverage on HudBay Minerals in a report on Thursday, May 21st. They issued an “overweight” rating and a $30.00 price objective on the stock. Scotiabank restated an “outperform” rating on shares of HudBay Minerals in a report on Thursday, June 25th. Weiss Ratings raised HudBay Minerals from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, June 29th. Wall Street Zen lowered shares of HudBay Minerals from a “buy” rating to a “hold” rating in a research note on Sunday. Finally, Jefferies Financial Group reissued a “buy” rating on shares of HudBay Minerals in a research report on Monday, July 6th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $30.67.

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.