Deutsche Bank AG Acquires Shares of 40,468 HudBay Minerals Inc $HBM

Key Points

• Deutsche Bank acquired 40,468 shares of HudBay Minerals during the second quarter, valued at approximately $955,000. Institutional investors collectively own 57.82% of the company.
• Analysts maintain a generally positive outlook, with 11 Buy ratings and two Holds, producing a consensus “Moderate Buy” rating and a $31.33 price target.
• HudBay reported quarterly EPS of $0.28, beating estimates by $0.02, while revenue rose 17.7% year over year to $631.3 million. The company also declared a quarterly dividend of $0.01 per share.

Deutsche Bank AG purchased a new position in HudBay Minerals Inc (NYSE:HBM - Free Report) TSE: HBM in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 40,468 shares of the mining company's stock, valued at approximately $955,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in HBM. Allworth Financial LP boosted its stake in shares of 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 last quarter. Quarry LP purchased a new position in HudBay Minerals in the 3rd quarter valued at $38,000. IFP Advisors Inc purchased a new position in HudBay Minerals in the 3rd quarter valued at $45,000. Banque Cantonale Vaudoise boosted its stake in HudBay Minerals by 513.5% during the 3rd quarter. Banque Cantonale Vaudoise now owns 3,172 shares of the mining company's stock worth $48,000 after purchasing an additional 2,655 shares during the last quarter. Finally, Kestra Advisory Services LLC acquired a new stake in HudBay Minerals during the 4th quarter worth $71,000. 57.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on HBM. Wall Street Zen cut HudBay Minerals from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. Bank of America lowered their price target on shares of HudBay Minerals from $33.50 to $29.50 and set a "buy" rating on the stock in a research report on Thursday, July 9th. Scotiabank reiterated an "outperform" rating on shares of HudBay Minerals in a research report on Thursday, July 30th. Citigroup restated a "positive" rating on shares of HudBay Minerals in a report on Wednesday, July 15th. Finally, Jefferies Financial Group reaffirmed a "buy" rating on shares of HudBay Minerals in a research report on Monday, July 6th. Eleven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $31.33.

HudBay Minerals Price Performance

Shares of NYSE:HBM opened at $29.38 on Monday. HudBay Minerals Inc has a 12 month low of $11.62 and a 12 month high of $32.15. The firm has a market capitalization of $13.05 billion, a P/E ratio of 17.28, a P/E/G ratio of 0.45 and a beta of 1.48. 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's fifty day moving average price is $24.63 and its 200 day moving average price is $24.59.

HudBay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last announced its earnings results 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. HudBay Minerals had a net margin of 27.48% and a return on equity of 9.47%. 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 firm posted $0.19 earnings per share. The company's revenue for the quarter was up 17.7% compared to the same quarter last year. As a group, sell-side analysts predict that HudBay Minerals Inc will post 1.58 earnings per share for the current fiscal 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 given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.1%. The ex-dividend date is Tuesday, September 8th. HudBay Minerals's dividend payout ratio is presently 1.76%.

HudBay Minerals Company 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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