HighTower Advisors LLC Purchases 115,968 Shares of HudBay Minerals Inc $HBM

HighTower Advisors LLC lifted its position in shares of HudBay Minerals Inc (NYSE:HBM - Free Report) TSE: HBM by 532.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 137,766 shares of the mining company's stock after purchasing an additional 115,968 shares during the period. HighTower Advisors LLC's holdings in HudBay Minerals were worth $3,253,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. TD Waterhouse Canada Inc. lifted its holdings in HudBay Minerals by 5.8% in the second quarter. TD Waterhouse Canada Inc. now owns 489,033 shares of the mining company's stock valued at $11,064,000 after buying an additional 26,767 shares during the period. Nykredit A S acquired a new position in HudBay Minerals during the 2nd quarter worth approximately $57,000. Bornite Capital Management LP acquired a new position in HudBay Minerals during the 2nd quarter worth approximately $50,353,000. Addenda Capital Inc. boosted its holdings in HudBay Minerals by 203.4% in the second quarter. Addenda Capital Inc. now owns 1,872,488 shares of the mining company's stock worth $44,209,000 after acquiring an additional 1,255,330 shares in the last quarter. Finally, Flputnam Investment Management Co. bought a new position in shares of HudBay Minerals in the 2nd quarter worth $347,000. Institutional investors and hedge funds own 57.82% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on HBM shares. Jefferies Financial Group reaffirmed a "buy" rating on shares of HudBay Minerals in a research report on Monday, July 6th. Wall Street Zen downgraded HudBay Minerals from a "buy" rating to a "hold" rating in a research note on Saturday, August 1st. Weiss Ratings downgraded shares of HudBay Minerals from a "buy (b)" rating to a "buy (b-)" rating in a report on Thursday, August 13th. Citigroup reaffirmed a "positive" rating on shares of HudBay Minerals in a research report on Wednesday, July 15th. Finally, Barclays raised their target price on HudBay Minerals from $30.00 to $32.00 and gave the company an "overweight" rating in a research report on Wednesday, July 15th. Ten investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $31.33.

HudBay Minerals Price Performance

Shares of NYSE:HBM opened at $26.48 on Friday. The company has a 50 day moving average of $25.40 and a 200 day moving average of $24.75. The company has a current ratio of 2.24, a quick ratio of 1.93 and a debt-to-equity ratio of 0.17. The stock has a market cap of $11.76 billion, a P/E ratio of 15.58, a P/E/G ratio of 0.43 and a beta of 1.54. HudBay Minerals Inc has a 12 month low of $13.00 and a 12 month high of $32.15.

HudBay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last announced its quarterly earnings results on Wednesday, July 29th. The mining company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.26 by $0.02. HudBay Minerals had a net margin of 27.48% and a return on equity of 9.47%. The firm had revenue of $631.30 million during the quarter, compared to the consensus estimate of $632.43 million. During the same period last year, the firm earned $0.19 EPS. The business's quarterly revenue was up 17.7% compared to the same quarter last year. As a group, sell-side analysts forecast that HudBay Minerals Inc will post 1.48 EPS for the current fiscal year.

HudBay Minerals Dividend Announcement

The company also recently declared 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. 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 presently 1.76%.

HudBay Minerals Company Profile

Hudbay Minerals Inc is a Canadian mining company focused primarily on the exploration, development and operation of copper assets. The company also produces gold, zinc, silver and molybdenum as byproducts or additional products from its mining operations.

Hudbay operates the Constancia open-pit copper-molybdenum mine in southern Peru, along with the nearby Pampacancha satellite deposit. In Manitoba, Canada, the company operates the Lalor polymetallic mine and the Snow Lake processing facilities, which produce copper, zinc, gold and silver.

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