UBS Group AG Acquires 164,770 Shares of HudBay Minerals Inc $HBM

UBS Group AG increased its holdings in HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) by 25.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 799,864 shares of the mining company’s stock after purchasing an additional 164,770 shares during the quarter. UBS Group AG owned approximately 0.20% of HudBay Minerals worth $15,877,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Triasima Portfolio Management inc. bought a new stake in shares of HudBay Minerals in the third quarter worth about $8,057,000. Picton Mahoney Asset Management lifted its holdings in HudBay Minerals by 9.3% in the third quarter. Picton Mahoney Asset Management now owns 6,350,482 shares of the mining company’s stock worth $96,171,000 after buying an additional 537,964 shares during the period. Campbell & CO Investment Adviser LLC purchased a new stake in HudBay Minerals in the third quarter worth about $1,454,000. Bank of Nova Scotia lifted its holdings in HudBay Minerals by 662.0% in the third quarter. Bank of Nova Scotia now owns 4,273,384 shares of the mining company’s stock worth $64,783,000 after buying an additional 3,712,572 shares during the period. Finally, State of Wyoming purchased a new stake in HudBay Minerals in the third quarter worth about $800,000. 57.82% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on HBM. Zacks Research lowered shares of HudBay Minerals from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 17th. Weiss Ratings upgraded shares of HudBay Minerals from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, February 10th. Scotiabank restated an “outperform” rating on shares of HudBay Minerals in a report on Monday, January 26th. Citigroup raised their price objective on shares of HudBay Minerals from $23.00 to $32.50 and gave the stock a “buy” rating in a report on Wednesday, February 11th. Finally, Raymond James Financial restated an “outperform” rating on shares of HudBay Minerals in a report on Wednesday, January 14th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $26.00.

HudBay Minerals Price Performance

HBM stock opened at $27.76 on Thursday. The firm has a 50 day moving average price of $22.75 and a 200-day moving average price of $21.36. HudBay Minerals Inc has a 52-week low of $7.94 and a 52-week high of $28.74. The firm has a market capitalization of $11.02 billion, a price-to-earnings ratio of 16.72, a PEG ratio of 0.31 and a beta of 1.37. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.20 and a current ratio of 1.36.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last announced its quarterly earnings results on Friday, May 1st. The mining company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.06. HudBay Minerals had a net margin of 27.75% and a return on equity of 10.04%. The company had revenue of $757.30 million during the quarter, compared to the consensus estimate of $684.73 million. During the same quarter last year, the firm earned $0.24 earnings per share. The firm’s quarterly revenue was up 27.3% compared to the same quarter last year. Equities research analysts forecast that HudBay Minerals Inc will post 1.65 EPS for the current fiscal year.

HudBay Minerals Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Tuesday, June 9th will be issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date is Tuesday, June 9th. HudBay Minerals’s payout ratio is presently 0.60%.

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.