HudBay Minerals Inc $HBM Shares Acquired by Acasta Partners UK LLP

Key Points

• Acasta Partners UK LLP increased its HudBay Minerals stake by 75.7% in the third quarter, acquiring 85,000 additional shares and bringing its holdings to 197,352 shares valued at approximately $5.27 million.
• Institutional ownership remains significant at 57.82%, with several major investors—including Bank of America, HighTower Advisors, and Amundi—also expanding their positions.
• HudBay reported quarterly EPS of $0.28, ahead of the $0.26 consensus estimate, while revenue rose 17.7% year over year. Analysts maintain a “Moderate Buy” consensus with an average price target of $31.33, compared with a recent share price of $27.43.

Acasta Partners UK LLP raised its stake in shares of HudBay Minerals Inc (NYSE:HBM - Free Report) TSE: HBM by 75.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 197,352 shares of the mining company's stock after buying an additional 85,000 shares during the period. HudBay Minerals makes up 2.4% of Acasta Partners UK LLP's portfolio, making the stock its 10th biggest position. Acasta Partners UK LLP's holdings in HudBay Minerals were worth $5,270,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. First Trust Advisors LP increased its stake in shares of HudBay Minerals by 35.3% during the first quarter. First Trust Advisors LP now owns 229,948 shares of the mining company's stock valued at $4,814,000 after acquiring an additional 60,025 shares during the period. Bank of America Corp DE boosted its stake in HudBay Minerals by 53.3% during the 1st quarter. Bank of America Corp DE now owns 1,883,698 shares of the mining company's stock valued at $39,369,000 after purchasing an additional 655,308 shares in the last quarter. HighTower Advisors LLC increased its position in shares of HudBay Minerals by 532.0% during the 2nd quarter. HighTower Advisors LLC now owns 137,766 shares of the mining company's stock valued at $3,253,000 after purchasing an additional 115,968 shares during the period. Goehring & Rozencwajg Associates LLC increased its position in shares of HudBay Minerals by 6.6% during the 4th quarter. Goehring & Rozencwajg Associates LLC now owns 824,951 shares of the mining company's stock valued at $16,380,000 after purchasing an additional 51,387 shares during the period. Finally, Amundi raised its stake in shares of HudBay Minerals by 14.8% in the 2nd quarter. Amundi now owns 1,237,690 shares of the mining company's stock worth $29,222,000 after buying an additional 159,219 shares in the last quarter. 57.82% of the stock is currently owned by institutional investors.

HudBay Minerals Trading Up 0.9%

Shares of HBM traded up $0.23 during midday trading on Monday, hitting $27.43. The stock had a trading volume of 1,951,334 shares, compared to its average volume of 5,469,830. The business has a 50-day simple moving average of $26.80 and a two-hundred day simple moving average of $24.97. The firm has a market cap of $12.19 billion, a P/E ratio of 16.13, a price-to-earnings-growth ratio of 0.46 and a beta of 1.58. The company has a current ratio of 2.24, a quick ratio of 1.93 and a debt-to-equity ratio of 0.17. HudBay Minerals Inc has a fifty-two week low of $14.34 and a fifty-two week high of $32.15.

HudBay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last issued 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 business had revenue of $631.30 million during the quarter, compared to the consensus estimate of $632.43 million. During the same quarter in the prior year, the firm earned $0.19 EPS. The firm's quarterly revenue was up 17.7% on a year-over-year basis. As a group, equities analysts forecast that HudBay Minerals Inc will post 1.42 EPS for the current year.

HudBay Minerals Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 25th. Investors of record on Tuesday, September 8th were given a dividend of C$0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.1%. The ex-dividend date of this dividend was Tuesday, September 8th. HudBay Minerals's payout ratio is presently 1.76%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on HBM shares. Wall Street Zen cut HudBay Minerals from a "buy" rating to a "hold" rating in a research note on Saturday, August 1st. Weiss Ratings cut shares of HudBay Minerals from a "buy (b)" rating to a "buy (b-)" rating in a research note on Thursday, August 13th. Scotiabank reissued an "outperform" rating on shares of HudBay Minerals in a research note on Thursday, July 30th. Barclays raised their target price on shares of HudBay Minerals from $30.00 to $32.00 and gave the stock an "overweight" rating in a report on Wednesday, July 15th. Finally, Citigroup reaffirmed a "positive" rating on shares of HudBay Minerals in a report on Wednesday, July 15th. Ten equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $31.33.

HudBay Minerals Company Profile

Hudbay Minerals Inc is a Canadian mining company focused primarily on the exploration, development, and operation of copper, zinc, gold, silver, and molybdenum deposits. The company's products are used in infrastructure, manufacturing, technology, and energy-related applications. Hudbay is listed on the New York Stock Exchange and the Toronto Stock Exchange under the symbol HBM.

Hudbay operates mining and processing assets in Canada and Peru. Its Manitoba operations include the Lalor polymetallic mine and processing facilities in the Snow Lake region, which produce zinc, copper, gold, and silver.

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