50,000 Shares in HudBay Minerals Inc $HBM Acquired by Maxi Investments CY Ltd

Key Points

• Maxi Investments CY Ltd established a new Q4 position in HudBay Minerals, acquiring 50,000 shares valued at about $993,000.
• HudBay beat expectations for the quarter—EPS of $0.40 vs. $0.34 consensus and revenue of $757.3M (up 27.3% year-over-year vs. $684.7M expected).
• Analysts hold a consensus "Moderate Buy" rating with a $26 price target (Citigroup raised its target to $32.50); the broker breakdown is 1 Strong Buy, 10 Buy, and 2 Hold.

Maxi Investments CY Ltd acquired a new position in shares of HudBay Minerals Inc (NYSE:HBM - Free Report) TSE: HBM during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 50,000 shares of the mining company's stock, valued at approximately $993,000.

Several other large investors also recently added to or reduced their stakes in HBM. Triasima Portfolio Management inc. boosted its position in shares of HudBay Minerals by 10.0% in the fourth quarter. Triasima Portfolio Management inc. now owns 584,968 shares of the mining company's stock worth $11,629,000 after buying an additional 53,135 shares during the period. Intact Investment Management Inc. acquired a new position in HudBay Minerals during the fourth quarter valued at $92,000. Artemis Investment Management LLP lifted its stake in HudBay Minerals by 15.6% in the 4th quarter. Artemis Investment Management LLP now owns 5,709,453 shares of the mining company's stock worth $113,355,000 after acquiring an additional 770,172 shares in the last quarter. Precision Wealth Strategies LLC lifted its stake in HudBay Minerals by 30.7% in the 4th quarter. Precision Wealth Strategies LLC now owns 73,683 shares of the mining company's stock worth $1,463,000 after acquiring an additional 17,306 shares in the last quarter. Finally, Wealth High Governance Capital Ltda boosted its position in HudBay Minerals by 103.4% during the 4th quarter. Wealth High Governance Capital Ltda now owns 732,314 shares of the mining company's stock worth $14,544,000 after acquiring an additional 372,314 shares during the period. 57.82% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have weighed in on HBM. Zacks Research cut HudBay Minerals from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, February 17th. Wall Street Zen upgraded shares of HudBay Minerals from a "hold" rating to a "buy" rating in a report on Saturday, May 2nd. Weiss Ratings raised shares of HudBay Minerals from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Tuesday, February 10th. Canadian Imperial Bank of Commerce reiterated an "outperform" rating on shares of HudBay Minerals in a research note on Tuesday, April 21st. Finally, Citigroup increased their target price on shares of HudBay Minerals from $23.00 to $32.50 and gave the stock a "buy" rating in a research report on Wednesday, February 11th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $26.00.

HudBay Minerals Stock Performance

Shares of HBM stock opened at $23.91 on Friday. HudBay Minerals Inc has a fifty-two week low of $7.45 and a fifty-two week high of $28.74. The stock's 50-day moving average is $22.86 and its two-hundred day moving average is $21.06. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.36 and a quick ratio of 0.78. The firm has a market cap of $9.50 billion, a P/E ratio of 14.41, a PEG ratio of 0.29 and a beta of 1.37.

HudBay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last announced its quarterly earnings results on Friday, May 1st. The mining company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.06. The business had revenue of $757.30 million during the quarter, compared to analyst estimates of $684.73 million. HudBay Minerals had a return on equity of 10.04% and a net margin of 27.75%.The firm's revenue was up 27.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.24 EPS. Analysts predict that HudBay Minerals Inc will post 1.58 earnings per share for the current fiscal year.

HudBay Minerals Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Tuesday, June 9th will be paid a $0.01 dividend. The ex-dividend date is Tuesday, June 9th. This represents a $0.04 dividend on an annualized basis and a yield of 0.2%. HudBay Minerals's payout ratio is 0.60%.

HudBay Minerals 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.

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