Amundi Has $29.22 Million Stock Holdings in HudBay Minerals Inc $HBM

Key Points

• Amundi increased its HudBay Minerals stake by 14.8% in the second quarter, acquiring 159,219 additional shares to own 1.24 million shares worth approximately $29.22 million.
• Institutional ownership remains substantial at 57.82%, with several other investors—including Addenda Capital and HighTower Advisors—also significantly increasing their positions.
• HudBay reported quarterly EPS of $0.28, beating estimates, while revenue rose 17.7% year over year to $631.3 million. Analysts maintain a “Moderate Buy” consensus with an average price target of $31.33, compared with the stock’s $26.48 price.

Amundi boosted its holdings in shares of HudBay Minerals Inc (NYSE:HBM - Free Report) TSE: HBM by 14.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,237,690 shares of the mining company's stock after acquiring an additional 159,219 shares during the period. Amundi owned approximately 0.28% of HudBay Minerals worth $29,222,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. HighTower Advisors LLC raised its position in shares of HudBay Minerals by 532.0% during the second quarter. HighTower Advisors LLC now owns 137,766 shares of the mining company's stock worth $3,253,000 after purchasing an additional 115,968 shares during the period. TD Waterhouse Canada Inc. boosted its stake in HudBay Minerals by 5.8% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 489,033 shares of the mining company's stock worth $11,064,000 after purchasing an additional 26,767 shares during the period. Nykredit A S bought a new position in HudBay Minerals during the 2nd quarter worth about $57,000. Bornite Capital Management LP acquired a new stake in shares of HudBay Minerals in the 2nd quarter valued at about $50,353,000. Finally, Addenda Capital Inc. raised its stake in shares of HudBay Minerals by 203.4% in the 2nd quarter. Addenda Capital Inc. now owns 1,872,488 shares of the mining company's stock valued at $44,209,000 after purchasing an additional 1,255,330 shares during the period. 57.82% of the stock is owned by institutional investors and hedge funds.

HudBay Minerals Stock Down 0.6%

NYSE:HBM opened at $26.48 on Friday. The firm has a market capitalization of $11.76 billion, a price-to-earnings ratio of 15.58, a price-to-earnings-growth ratio of 0.43 and a beta of 1.54. 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 stock's 50 day moving average price is $25.40 and its two-hundred day moving average price is $24.75. HudBay Minerals Inc has a twelve month low of $13.00 and a twelve month high of $32.15.

HudBay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last posted its 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. 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 analyst estimates of $632.43 million. During the same period in the previous year, the firm earned $0.19 EPS. The firm's revenue was up 17.7% compared to the same quarter last year. Equities research analysts expect that HudBay Minerals Inc will post 1.48 earnings per share for the current fiscal year.

HudBay Minerals Announces Dividend

The company also recently disclosed 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. The ex-dividend date is Tuesday, September 8th. This represents a $0.04 annualized dividend and a yield of 0.2%. HudBay Minerals's dividend payout ratio (DPR) is presently 1.76%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on HBM shares. Weiss Ratings cut HudBay Minerals from a "buy (b)" rating to a "buy (b-)" rating in a research report on Thursday, August 13th. Scotiabank restated an "outperform" rating on shares of HudBay Minerals in a research note on Thursday, July 30th. Jefferies Financial Group reaffirmed a "buy" rating on shares of HudBay Minerals in a research report on Monday, July 6th. Wall Street Zen cut shares of HudBay Minerals from a "buy" rating to a "hold" rating in a research note on Saturday, August 1st. Finally, Bank of America lowered their price objective on shares of HudBay Minerals from $33.50 to $29.50 and set a "buy" rating on the stock in a report on Thursday, July 9th. Ten equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, HudBay Minerals presently has an average rating of "Moderate Buy" and a consensus price target of $31.33.

HudBay Minerals Company Profile

Hudbay Minerals Inc is a Canadian mining company focused primarily on the exploration, development and operation of copper assets. The company also produces gold, zinc, silver and molybdenum as byproducts or additional products from its mining operations.

Hudbay operates the Constancia open-pit copper-molybdenum mine in southern Peru, along with the nearby Pampacancha satellite deposit. In Manitoba, Canada, the company operates the Lalor polymetallic mine and the Snow Lake processing facilities, which produce copper, zinc, gold and silver.

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