Janus Henderson Group PLC Buys Shares of 1,243,668 HudBay Minerals Inc $HBM

Janus Henderson Group PLC bought a new stake in HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) during the first quarter, HoldingsChannel.com reports. The institutional investor bought 1,243,668 shares of the mining company’s stock, valued at approximately $25,995,000.

Several other large investors have also modified their holdings of the stock. Artemis Investment Management LLP lifted its holdings in shares of HudBay Minerals by 15.6% during the fourth quarter. Artemis Investment Management LLP now owns 5,709,453 shares of the mining company’s stock worth $113,355,000 after purchasing an additional 770,172 shares during the period. Goehring & Rozencwajg Associates LLC increased its stake in HudBay Minerals by 6.6% in the 4th quarter. Goehring & Rozencwajg Associates LLC now owns 824,951 shares of the mining company’s stock valued at $16,380,000 after buying an additional 51,387 shares during the period. Maxi Investments CY Ltd acquired a new position in HudBay Minerals in the 4th quarter valued at $993,000. Norges Bank purchased a new position in HudBay Minerals during the 4th quarter worth $105,315,000. Finally, UBS Group AG raised its position in HudBay Minerals by 25.9% during the 4th quarter. UBS Group AG now owns 799,864 shares of the mining company’s stock worth $15,877,000 after buying an additional 164,770 shares during the last quarter. Hedge funds and other institutional investors own 57.82% of the company’s stock.

HudBay Minerals Price Performance

HudBay Minerals stock opened at $23.41 on Tuesday. The company has a market cap of $10.40 billion, a P/E ratio of 13.77, a price-to-earnings-growth ratio of 0.35 and a beta of 1.48. HudBay Minerals Inc has a one year low of $9.04 and a one year high of $32.15. The business has a fifty day moving average of $24.63 and a two-hundred day moving average of $24.15. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.93 and a current ratio of 2.24.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last posted its quarterly earnings results on Wednesday, July 29th. The mining company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.02. The business had revenue of $631.30 million for the quarter, compared to analysts’ expectations of $632.43 million. HudBay Minerals had a net margin of 27.48% and a return on equity of 9.47%. The business’s revenue for the quarter was up 17.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.19 EPS. As a group, analysts predict that HudBay Minerals Inc will post 1.55 earnings per share for the current fiscal year.

HudBay Minerals Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Tuesday, September 8th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.2%. The ex-dividend date is Tuesday, September 8th. HudBay Minerals’s dividend payout ratio is presently 1.18%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Scotiabank reaffirmed an “outperform” rating on shares of HudBay Minerals in a report on Thursday. Barclays increased their price target on shares of HudBay Minerals from $30.00 to $32.00 and gave the stock an “overweight” rating in a report on Wednesday, July 15th. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of HudBay Minerals in a research report on Tuesday, April 21st. Wall Street Zen lowered HudBay Minerals from a “buy” rating to a “hold” rating in a report on Saturday. Finally, Jefferies Financial Group reiterated a “buy” rating on shares of HudBay Minerals in a research report on Monday, July 6th. Eleven research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus 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.