Global Retirement Partners LLC Buys Shares of 51,828 HudBay Minerals Inc $HBM

Key Points

• Global Retirement Partners purchased 51,828 HudBay Minerals shares in the second quarter, valued at approximately $1.224 million. Institutional investors collectively own 57.82% of the company.
• 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.
• Analyst sentiment remains favorable, with 11 Buy ratings and two Holds, producing a “Moderate Buy” consensus and an average price target of $31.33.

Global Retirement Partners LLC bought a new stake in HudBay Minerals Inc (NYSE:HBM - Free Report) TSE: HBM in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 51,828 shares of the mining company's stock, valued at approximately $1,224,000.

A number of other institutional investors and hedge funds have also modified their holdings of HBM. Jones Financial Companies Lllp boosted its position in HudBay Minerals by 131.6% during the first quarter. Jones Financial Companies Lllp now owns 6,570 shares of the mining company's stock valued at $50,000 after purchasing an additional 3,733 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of HudBay Minerals by 144.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 7,281,095 shares of the mining company's stock worth $55,264,000 after purchasing an additional 4,299,428 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of HudBay Minerals by 6.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 439,687 shares of the mining company's stock valued at $3,337,000 after buying an additional 27,944 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of HudBay Minerals by 7.4% during the 2nd quarter. Geode Capital Management LLC now owns 221,685 shares of the mining company's stock valued at $2,363,000 after buying an additional 15,235 shares during the last quarter. Finally, Creative Planning grew its stake in shares of HudBay Minerals by 5.4% in the 2nd quarter. Creative Planning now owns 25,067 shares of the mining company's stock valued at $266,000 after buying an additional 1,289 shares in the last quarter. Hedge funds and other institutional investors own 57.82% of the company's stock.

HudBay Minerals Stock Up 2.7%

HudBay Minerals stock opened at $27.42 on Tuesday. The firm has a market cap of $12.18 billion, a price-to-earnings ratio of 16.13, a P/E/G ratio of 0.41 and a beta of 1.48. The firm has a fifty day moving average price of $24.30 and a two-hundred day moving average price of $24.35. HudBay Minerals Inc has a fifty-two week low of $10.72 and a fifty-two week high of $32.15. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.24 and a quick ratio of 1.93.

HudBay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last announced its quarterly earnings data 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. The business had revenue of $631.30 million for the quarter, compared to the consensus estimate of $632.43 million. HudBay Minerals had a net margin of 27.48% and a return on equity of 9.47%. HudBay Minerals's quarterly revenue was up 17.7% on a year-over-year basis. During the same quarter last year, the company posted $0.19 earnings per share. As a group, analysts forecast that HudBay Minerals Inc will post 1.58 earnings per share for the current year.

HudBay Minerals Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Stockholders 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 annualized dividend and a dividend yield of 0.1%. HudBay Minerals's payout ratio is presently 1.76%.

Wall Street Analyst Weigh In

Several analysts have commented on HBM shares. Barclays boosted their target price on shares of HudBay Minerals from $30.00 to $32.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 15th. Weiss Ratings cut shares of HudBay Minerals from a "buy (b)" rating to a "buy (b-)" rating in a report on Thursday. Jefferies Financial Group reissued a "buy" rating on shares of HudBay Minerals in a research report on Monday, July 6th. Wall Street Zen lowered HudBay Minerals from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. Finally, Bank of America reduced their price target on HudBay Minerals from $33.50 to $29.50 and set a "buy" rating for the company in a research report on Thursday, July 9th. Eleven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target 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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