4,197,448 Shares in HudBay Minerals Inc $HBM Acquired by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in HudBay Minerals Inc (NYSE:HBM - Free Report) TSE: HBM in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 4,197,448 shares of the mining company's stock, valued at approximately $99,022,000. Connor Clark & Lunn Investment Management Ltd. owned about 0.95% of HudBay Minerals as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in HBM. Jones Financial Companies Lllp boosted its stake in HudBay Minerals by 131.6% during the 1st quarter. Jones Financial Companies Lllp now owns 6,570 shares of the mining company's stock worth $50,000 after purchasing an additional 3,733 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of HudBay Minerals by 144.2% in the first quarter. Goldman Sachs Group Inc. now owns 7,281,095 shares of the mining company's stock valued at $55,264,000 after buying an additional 4,299,428 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of HudBay Minerals by 6.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 439,687 shares of the mining company's stock valued at $3,337,000 after buying an additional 27,944 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of HudBay Minerals by 7.4% in the second quarter. Geode Capital Management LLC now owns 221,685 shares of the mining company's stock worth $2,363,000 after buying an additional 15,235 shares in the last quarter. Finally, Creative Planning lifted its stake in shares of HudBay Minerals by 5.4% in the second quarter. Creative Planning now owns 25,067 shares of the mining company's stock worth $266,000 after buying an additional 1,289 shares in the last quarter. Hedge funds and other institutional investors own 57.82% of the company's stock.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Barclays upped their price objective on shares of HudBay Minerals from $30.00 to $32.00 and gave the company an "overweight" rating in a research note on Wednesday, July 15th. Citigroup reissued a "positive" rating on shares of HudBay Minerals in a research note on Wednesday, July 15th. Jefferies Financial Group restated a "buy" rating on shares of HudBay Minerals in a report on Monday, July 6th. Scotiabank restated an "outperform" rating on shares of HudBay Minerals in a research report on Thursday, July 30th. Finally, Bank of America cut their price target on HudBay Minerals from $33.50 to $29.50 and set a "buy" rating for the company in a report on Thursday, July 9th. Eleven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, HudBay Minerals currently has a consensus rating of "Moderate Buy" and a consensus price target of $31.33.

HudBay Minerals Trading Up 0.1%

Shares of HBM opened at $30.08 on Monday. HudBay Minerals Inc has a 12-month low of $11.21 and a 12-month high of $32.15. The firm has a market capitalization of $13.36 billion, a P/E ratio of 17.69, a P/E/G ratio of 0.46 and a beta of 1.48. The firm has a 50-day moving average price of $24.45 and a 200 day moving average price of $24.42. The company has a current ratio of 2.24, a quick ratio of 1.93 and a debt-to-equity ratio of 0.17.

HudBay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last issued its earnings results on Wednesday, July 29th. The mining company reported $0.28 EPS for the quarter, topping analysts' consensus estimates of $0.26 by $0.02. The company had revenue of $631.30 million for the quarter, compared to the consensus estimate of $632.43 million. HudBay Minerals had a net margin of 27.48% and a return on equity of 9.47%. HudBay Minerals's quarterly revenue was up 17.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.19 earnings per share. Sell-side analysts forecast that HudBay Minerals Inc will post 1.58 EPS for the current year.

HudBay Minerals Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Tuesday, September 8th will be issued 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 dividend yield of 0.1%. HudBay Minerals's dividend payout ratio (DPR) is currently 1.76%.

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.

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