BlackRock Inc. Acquires Shares of 576,685 HudBay Minerals Inc $HBM

BlackRock Inc. bought a new position in shares of HudBay Minerals Inc (NYSE:HBM - Free Report) TSE: HBM during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 576,685 shares of the mining company's stock, valued at approximately $13,616,000. BlackRock Inc. owned approximately 0.13% of HudBay Minerals as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of HBM. Quantinno Capital Management LP raised its stake in shares of HudBay Minerals by 6.0% during the 1st quarter. Quantinno Capital Management LP now owns 11,597 shares of the mining company's stock worth $242,000 after purchasing an additional 657 shares during the period. Vontobel Holding Ltd. grew its position in HudBay Minerals by 0.6% during 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 period. Rockefeller Capital Management L.P. increased its holdings in HudBay Minerals by 25.0% during the fourth 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 during the last quarter. Wealthcare Advisory Partners LLC increased its holdings in HudBay Minerals by 2.7% during the second quarter. Wealthcare Advisory Partners LLC now owns 37,766 shares of the mining company's stock worth $892,000 after buying an additional 992 shares during the last quarter. Finally, Allworth Financial LP raised its position in HudBay Minerals by 107.9% in the third quarter. Allworth Financial LP now owns 1,990 shares of the mining company's stock worth $30,000 after acquiring an additional 1,033 shares during the period. Hedge funds and other institutional investors own 57.82% of the company's stock.

HudBay Minerals Price Performance

Shares of NYSE HBM opened at $27.73 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.93 and a current ratio of 2.24. HudBay Minerals Inc has a fifty-two week low of $12.16 and a fifty-two week high of $32.15. The stock has a market cap of $12.32 billion, a PE ratio of 16.31, a price-to-earnings-growth ratio of 0.41 and a beta of 1.54. The stock has a fifty day moving average of $24.85 and a 200-day moving average of $24.64.

HudBay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last issued its quarterly earnings data on Wednesday, July 29th. The mining company reported $0.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.26 by $0.02. The business had revenue of $631.30 million for the quarter, compared to analysts' expectations of $632.43 million. HudBay Minerals had a return on equity of 9.47% and a net margin of 27.48%.The firm's quarterly revenue was up 17.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.19 EPS. Equities research analysts anticipate that HudBay Minerals Inc will post 1.59 earnings per share for the current year.

HudBay Minerals Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Tuesday, September 8th will be given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date is Tuesday, September 8th. HudBay Minerals's dividend payout ratio (DPR) is 1.76%.

Analyst Ratings Changes

A number of research firms have recently weighed in on HBM. Citigroup reissued a "positive" rating on shares of HudBay Minerals in a research report on Wednesday, July 15th. Scotiabank reiterated an "outperform" rating on shares of HudBay Minerals in a research note on Thursday, July 30th. Bank of America reduced their price objective on HudBay Minerals from $33.50 to $29.50 and set a "buy" rating for the company in a report on Thursday, July 9th. Barclays boosted their target price on HudBay Minerals from $30.00 to $32.00 and gave the company an "overweight" rating in a research note on Wednesday, July 15th. Finally, Weiss Ratings cut HudBay Minerals from a "buy (b)" rating to a "buy (b-)" rating in a research report on Thursday, August 13th. Eleven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus 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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