Orchard Capital Management LLC Makes New $3.15 Million Investment in HudBay Minerals Inc $HBM

Orchard Capital Management LLC acquired a new stake in shares of HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) in the 2nd quarter, Holdings Channel.com reports. The fund acquired 133,607 shares of the mining company’s stock, valued at approximately $3,154,000. HudBay Minerals makes up 3.1% of Orchard Capital Management LLC’s investment portfolio, making the stock its 11th largest position.

Other hedge funds have also recently modified their holdings of the company. FIL Ltd grew its position in shares of HudBay Minerals by 202.0% in the 4th quarter. FIL Ltd now owns 33,143,172 shares of the mining company’s stock worth $658,010,000 after buying an additional 22,169,339 shares during the period. Invesco Ltd. lifted its position in HudBay Minerals by 0.4% during the 3rd quarter. Invesco Ltd. now owns 11,391,356 shares of the mining company’s stock valued at $172,693,000 after acquiring an additional 46,948 shares during the period. Mackenzie Financial Corp boosted its stake in 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 acquiring an additional 5,468,109 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in HudBay Minerals by 15.8% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 9,457,298 shares of the mining company’s stock worth $187,743,000 after acquiring an additional 1,293,023 shares in the last quarter. Finally, Royal Bank of Canada grew its holdings in HudBay Minerals by 7.8% in the first quarter. Royal Bank of Canada now owns 8,254,831 shares of the mining company’s stock worth $172,526,000 after purchasing an additional 597,422 shares during the period. Institutional investors own 57.82% of the company’s stock.

HudBay Minerals Price Performance

Shares of NYSE HBM opened at $30.08 on Friday. The firm has a market cap of $13.36 billion, a P/E ratio of 17.69, a PEG ratio of 0.46 and a beta of 1.48. HudBay Minerals Inc has a twelve month low of $11.21 and a twelve month high of $32.15. The company has a quick ratio of 1.93, a current ratio of 2.24 and a debt-to-equity ratio of 0.17. The company has a 50 day moving average of $24.45 and a 200 day moving average of $24.42.

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

HudBay Minerals Announces Dividend

The firm 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 of this dividend is Tuesday, September 8th. This represents a $0.04 annualized dividend and a dividend yield of 0.1%. HudBay Minerals’s dividend payout ratio (DPR) is 1.76%.

Wall Street Analysts Forecast Growth

HBM has been the subject of a number of analyst reports. Jefferies Financial Group reaffirmed a “buy” rating on shares of HudBay Minerals in a research note on Monday, July 6th. Wall Street Zen lowered HudBay Minerals from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Scotiabank reissued an “outperform” rating on shares of HudBay Minerals in a report on Thursday, July 30th. Weiss Ratings cut HudBay Minerals from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, August 13th. Finally, Barclays raised their price target on HudBay Minerals from $30.00 to $32.00 and gave the company an “overweight” rating in a report on Wednesday, July 15th. Eleven equities research analysts have rated the stock with a Buy rating and two have assigned 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.

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.