Clear Harbor Asset Management LLC Invests $734,000 in HudBay Minerals Inc $HBM

Clear Harbor Asset Management LLC purchased a new position in HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) during the 2nd quarter, Holdings Channel.com reports. The firm purchased 31,100 shares of the mining company’s stock, valued at approximately $734,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in HBM. Rakuten Securities Inc. bought a new stake in HudBay Minerals in the second quarter worth $28,000. Allworth Financial LP grew its stake in shares of HudBay Minerals by 107.9% in the third quarter. Allworth Financial LP now owns 1,990 shares of the mining company’s stock worth $30,000 after acquiring an additional 1,033 shares during the last quarter. Quarry LP bought a new position in shares of HudBay Minerals during the third quarter valued at $38,000. IFP Advisors Inc bought a new position in shares of HudBay Minerals during the third quarter valued at $45,000. Finally, Banque Cantonale Vaudoise raised its position in shares of HudBay Minerals by 513.5% in the 3rd quarter. Banque Cantonale Vaudoise now owns 3,172 shares of the mining company’s stock worth $48,000 after purchasing an additional 2,655 shares during the last quarter. Institutional investors own 57.82% of the company’s stock.

HudBay Minerals Price Performance

Shares of NYSE:HBM opened at $30.08 on Monday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.93 and a current ratio of 2.24. The firm has a market cap of $13.36 billion, a price-to-earnings ratio of 17.69, a price-to-earnings-growth ratio of 0.46 and a beta of 1.48. The business has a 50-day simple moving average of $24.45 and a two-hundred day simple moving average of $24.42. HudBay Minerals Inc has a fifty-two week low of $11.21 and a fifty-two week high of $32.15.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last announced its quarterly earnings results on Wednesday, July 29th. The mining company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.02. HudBay Minerals had a net margin of 27.48% and a return on equity of 9.47%. The firm had revenue of $631.30 million for the quarter, compared to the consensus estimate of $632.43 million. During the same quarter last year, the firm posted $0.19 EPS. The business’s quarterly revenue was up 17.7% compared to the same quarter last year. On average, analysts expect that HudBay Minerals Inc will post 1.58 earnings per share for the current year.

HudBay Minerals Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Tuesday, September 8th will be given a dividend of $0.01 per share. The ex-dividend date is Tuesday, September 8th. This represents a $0.04 dividend on an annualized basis and a yield of 0.1%. HudBay Minerals’s dividend payout ratio is 1.76%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on HBM. Weiss Ratings cut shares of HudBay Minerals from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, August 13th. Wall Street Zen cut shares of HudBay Minerals from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Jefferies Financial Group reiterated a “buy” rating on shares of HudBay Minerals in a research note on Monday, July 6th. Scotiabank reiterated an “outperform” rating on shares of HudBay Minerals in a report on Thursday, July 30th. Finally, Barclays raised their price target on shares of HudBay Minerals from $30.00 to $32.00 and gave the company an “overweight” rating in a research report on Wednesday, July 15th. Eleven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $31.33.

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.