Goehring & Rozencwajg Associates LLC Raises Stock Position in HudBay Minerals Inc $HBM

Key Points

• Goehring & Rozencwajg Associates increased its HudBay Minerals stake by 6.6% in the fourth quarter, holding 824,951 shares valued at about $16.4 million. The stock now represents 1.6% of the firm’s portfolio.
• Institutional interest appears strong, with several other funds also boosting their positions and hedge funds/institutional investors owning 57.82% of HudBay’s shares overall.
• HudBay Minerals recently beat earnings and revenue expectations, reporting EPS of $0.40 versus $0.34 expected and revenue of $757.3 million. Analysts currently rate the stock a consensus “Buy” with an average price target of $27.33.

Goehring & Rozencwajg Associates LLC boosted its position in shares of HudBay Minerals Inc (NYSE:HBM - Free Report) TSE: HBM by 6.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 824,951 shares of the mining company's stock after purchasing an additional 51,387 shares during the period. HudBay Minerals makes up 1.6% of Goehring & Rozencwajg Associates LLC's holdings, making the stock its 21st biggest holding. Goehring & Rozencwajg Associates LLC owned 0.21% of HudBay Minerals worth $16,380,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. SIR Capital Management L.P. raised its stake in HudBay Minerals by 65.9% during the fourth quarter. SIR Capital Management L.P. now owns 744,517 shares of the mining company's stock worth $14,779,000 after purchasing an additional 295,717 shares during the period. Wells Fargo & Company MN raised its stake in HudBay Minerals by 178.1% during the fourth quarter. Wells Fargo & Company MN now owns 5,851 shares of the mining company's stock worth $116,000 after purchasing an additional 3,747 shares during the period. Federation des caisses Desjardins du Quebec raised its stake in HudBay Minerals by 25.9% during the fourth quarter. Federation des caisses Desjardins du Quebec now owns 251,658 shares of the mining company's stock worth $4,971,000 after purchasing an additional 51,752 shares during the period. Sprott Inc. raised its stake in HudBay Minerals by 61.9% during the fourth quarter. Sprott Inc. now owns 84,913 shares of the mining company's stock worth $1,687,000 after purchasing an additional 32,477 shares during the period. Finally, Alps Advisors Inc. raised its stake in HudBay Minerals by 120.8% during the fourth quarter. Alps Advisors Inc. now owns 408,578 shares of the mining company's stock worth $8,110,000 after purchasing an additional 223,522 shares during the period. 57.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Canadian Imperial Bank of Commerce reaffirmed an "outperform" rating on shares of HudBay Minerals in a research note on Tuesday, April 21st. Weiss Ratings downgraded shares of HudBay Minerals from a "buy (b)" rating to a "buy (b-)" rating in a research note on Monday. Zacks Research downgraded shares of HudBay Minerals from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, February 17th. Barclays assumed coverage on shares of HudBay Minerals in a research note on Thursday, May 21st. They set an "overweight" rating and a $30.00 target price on the stock. Finally, Wall Street Zen raised shares of HudBay Minerals from a "hold" rating to a "buy" rating in a research note on Saturday, May 2nd. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, HudBay Minerals currently has an average rating of "Buy" and an average price target of $27.33.

HudBay Minerals Price Performance

HudBay Minerals stock opened at $27.79 on Friday. The company's 50 day simple moving average is $25.26 and its 200-day simple moving average is $23.01. The company has a market capitalization of $11.04 billion, a price-to-earnings ratio of 16.74, a price-to-earnings-growth ratio of 0.31 and a beta of 1.43. HudBay Minerals Inc has a 1 year low of $8.93 and a 1 year high of $32.15. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.20 and a current ratio of 1.36.

HudBay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last released its quarterly earnings results on Friday, May 1st. The mining company reported $0.40 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.34 by $0.06. The business had revenue of $757.30 million for the quarter, compared to the consensus estimate of $684.73 million. HudBay Minerals had a net margin of 27.75% and a return on equity of 10.04%. The business's revenue was up 27.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.24 EPS. As a group, equities research analysts expect that HudBay Minerals Inc will post 1.66 earnings per share for the current year.

HudBay Minerals Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Tuesday, June 9th will be paid 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 of this dividend is Tuesday, June 9th. HudBay Minerals's payout ratio is 1.81%.

HudBay Minerals 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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