Empowered Funds LLC Buys New Shares in HudBay Minerals Inc $HBM

Empowered Funds LLC purchased a new stake in HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 53,788 shares of the mining company’s stock, valued at approximately $1,270,000.

Several other institutional investors also recently modified their holdings of HBM. Quantinno Capital Management LP lifted its stake in HudBay Minerals by 6.0% in the 1st quarter. Quantinno Capital Management LP now owns 11,597 shares of the mining company’s stock valued at $242,000 after purchasing an additional 657 shares during the last quarter. Vontobel Holding Ltd. increased its holdings in shares of HudBay Minerals by 0.6% during the 4th quarter. Vontobel Holding Ltd. now owns 126,090 shares of the mining company’s stock worth $2,503,000 after acquiring an additional 738 shares during the last quarter. Rockefeller Capital Management L.P. raised its stake in HudBay Minerals by 25.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 4,933 shares of the mining company’s stock valued at $98,000 after acquiring an additional 986 shares during the period. Wealthcare Advisory Partners LLC grew its position in shares of HudBay Minerals by 2.7% in the second quarter. Wealthcare Advisory Partners LLC now owns 37,766 shares of the mining company’s stock valued at $892,000 after purchasing an additional 992 shares during the last quarter. Finally, 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 valued at $30,000 after acquiring an additional 1,033 shares in the last quarter. 57.82% of the stock is currently owned by institutional investors and hedge funds.

HudBay Minerals Stock Down 0.9%

HudBay Minerals stock opened at $27.45 on Friday. HudBay Minerals Inc has a 1-year low of $12.53 and a 1-year high of $32.15. The firm has a 50 day simple moving average of $24.93 and a 200 day simple moving average of $24.66. The company has a current ratio of 2.24, a quick ratio of 1.93 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $12.19 billion, a price-to-earnings ratio of 16.15, a P/E/G ratio of 0.42 and a beta of 1.54.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last posted its earnings results on Wednesday, July 29th. The mining company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.02. The business had revenue of $631.30 million during the quarter, compared to analyst estimates of $632.43 million. HudBay Minerals had a return on equity of 9.47% and a net margin of 27.48%.The company’s quarterly revenue was up 17.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.19 EPS. On average, analysts predict that HudBay Minerals Inc will post 1.59 earnings per share for the current year.

HudBay Minerals Dividend Announcement

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

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on HBM shares. Weiss Ratings downgraded shares of HudBay Minerals from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, August 13th. Citigroup reissued a “positive” rating on shares of HudBay Minerals in a research report on Wednesday, July 15th. Jefferies Financial Group reaffirmed a “buy” rating on shares of HudBay Minerals in a research report on Monday, July 6th. Barclays lifted their price target on HudBay Minerals from $30.00 to $32.00 and gave the company an “overweight” rating in a research note on Wednesday, July 15th. Finally, Wall Street Zen cut shares of HudBay Minerals from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Eleven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $31.33.

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.