Amundi Purchases 678,468 Shares of HudBay Minerals Inc $HBM

Key Points

• Amundi increased its HudBay Minerals stake by 169.6% in the first quarter, purchasing 678,468 additional shares to reach 1.08 million shares valued at approximately $22.54 million. Institutional investors now own 57.82% of the company.
• HudBay Minerals reported quarterly EPS of $0.28, exceeding analyst expectations of $0.26, while revenue rose 17.7% year over year to $631.3 million. The company also announced a quarterly dividend of $0.01 per share.
• Analysts maintain a generally positive outlook, with an average rating of “Moderate Buy” and a consensus price target of $31.33, compared with the stock’s reported opening price of $23.41.

Amundi lifted its holdings in HudBay Minerals Inc (NYSE:HBM - Free Report) TSE: HBM by 169.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,078,471 shares of the mining company's stock after acquiring an additional 678,468 shares during the quarter. Amundi owned approximately 0.27% of HudBay Minerals worth $22,540,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Waterfront Wealth Inc. grew its holdings in shares of HudBay Minerals by 1.0% during the fourth quarter. Waterfront Wealth Inc. now owns 39,451 shares of the mining company's stock worth $783,000 after purchasing an additional 399 shares during the last quarter. Strong Tower Advisory Services raised its holdings in shares of HudBay Minerals by 0.6% in the fourth quarter. Strong Tower Advisory Services now owns 94,762 shares of the mining company's stock valued at $1,881,000 after buying an additional 587 shares during the last quarter. Quantinno Capital Management LP raised its holdings in shares of HudBay Minerals by 6.0% in the first quarter. Quantinno Capital Management LP now owns 11,597 shares of the mining company's stock valued at $242,000 after buying an additional 657 shares during the last quarter. Vontobel Holding Ltd. raised its holdings in shares of HudBay Minerals by 0.6% in the fourth quarter. Vontobel Holding Ltd. now owns 126,090 shares of the mining company's stock valued at $2,503,000 after buying an additional 738 shares during the last quarter. Finally, Rockefeller Capital Management L.P. lifted its position in HudBay Minerals by 25.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 4,933 shares of the mining company's stock worth $98,000 after buying an additional 986 shares in the last quarter. 57.82% of the stock is currently owned by institutional investors.

HudBay Minerals Trading Up 2.9%

HBM opened at $23.41 on Tuesday. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.24 and a quick ratio of 1.93. The company has a market cap of $10.40 billion, a price-to-earnings ratio of 13.77, a price-to-earnings-growth ratio of 0.35 and a beta of 1.48. The firm has a 50 day simple moving average of $24.63 and a 200 day simple moving average of $24.15. HudBay Minerals Inc has a fifty-two week low of $9.04 and a fifty-two week high of $32.15.

HudBay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last posted its quarterly earnings results on Wednesday, July 29th. The mining company reported $0.28 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $632.43 million. During the same period last year, the company earned $0.19 EPS. The firm's revenue was up 17.7% on a year-over-year basis. On average, sell-side analysts anticipate that HudBay Minerals Inc will post 1.55 earnings per share for the current year.

HudBay Minerals Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Shareholders 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 yield of 0.2%. HudBay Minerals's dividend payout ratio (DPR) is 1.18%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on HBM shares. Jefferies Financial Group reissued a "buy" rating on shares of HudBay Minerals in a report on Monday, July 6th. Wall Street Zen downgraded shares of HudBay Minerals from a "buy" rating to a "hold" rating in a research note on Saturday. Scotiabank reiterated an "outperform" rating on shares of HudBay Minerals in a research report on Thursday. Weiss Ratings raised shares of HudBay Minerals from a "buy (b-)" rating to a "buy (b)" rating in a research note on Monday, June 29th. Finally, Barclays raised their price target on shares of HudBay Minerals from $30.00 to $32.00 and gave the company an "overweight" rating in a report on Wednesday, July 15th. Eleven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, HudBay Minerals currently has an average rating of "Moderate Buy" and a consensus 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.

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