J. Safra Sarasin Holding AG Buys 80,995 Shares of HudBay Minerals Inc $HBM

Key Points

• J. Safra Sarasin Holding AG increased its HudBay Minerals stake by 522.5% in the first quarter, buying an additional 80,995 shares and bringing its total to 96,495 shares valued at about $2.0 million.
• HudBay Minerals reported better-than-expected quarterly results, with EPS of $0.40 versus $0.34 expected and revenue of $757.3 million versus $684.7 million expected, while revenue jumped 27.3% year over year.
• Analyst sentiment remains broadly positive despite some mixed calls: the stock has a Moderate Buy consensus rating with an average price target of $30.67, though Bank of America recently cut its target to $29.50 and Wall Street Zen downgraded the stock to hold.

J. Safra Sarasin Holding AG raised its stake in shares of HudBay Minerals Inc (NYSE:HBM - Free Report) TSE: HBM by 522.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 96,495 shares of the mining company's stock after purchasing an additional 80,995 shares during the period. J. Safra Sarasin Holding AG's holdings in HudBay Minerals were worth $2,014,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of HBM. Bank of Nova Scotia lifted its position in HudBay Minerals by 662.0% in the third quarter. Bank of Nova Scotia now owns 4,273,384 shares of the mining company's stock worth $64,783,000 after buying an additional 3,712,572 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in HudBay Minerals by 10.4% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,502,218 shares of the mining company's stock worth $159,111,000 after buying an additional 986,278 shares during the period. Affinity Wealth Management LLC bought a new position in HudBay Minerals during the fourth quarter valued at $3,857,000. Artemis Investment Management LLP increased its position in HudBay Minerals by 15.6% during the fourth quarter. Artemis Investment Management LLP now owns 5,709,453 shares of the mining company's stock valued at $113,355,000 after acquiring an additional 770,172 shares during the last quarter. Finally, Cinctive Capital Management LP purchased a new stake in shares of HudBay Minerals in the third quarter valued at $1,490,000. 57.82% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

HBM has been the subject of several analyst reports. Bank of America lowered their target price on shares of HudBay Minerals from $33.50 to $29.50 and set a "buy" rating for the company in a report on Thursday, July 9th. Canadian Imperial Bank of Commerce reissued an "outperform" rating on shares of HudBay Minerals in a research report on Tuesday, April 21st. Wall Street Zen lowered shares of HudBay Minerals from a "buy" rating to a "hold" rating in a research report on Sunday. Weiss Ratings raised shares of HudBay Minerals from a "buy (b-)" rating to a "buy (b)" rating in a research note on Monday, June 29th. Finally, Barclays assumed coverage on HudBay Minerals in a research report on Thursday, May 21st. They set an "overweight" rating and a $30.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, HudBay Minerals has an average rating of "Moderate Buy" and an average price target of $30.67.

HudBay Minerals Stock Down 3.3%

NYSE:HBM opened at $20.92 on Tuesday. HudBay Minerals Inc has a twelve month low of $8.93 and a twelve month high of $32.15. The company has a market cap of $9.29 billion, a price-to-earnings ratio of 12.60, a price-to-earnings-growth ratio of 0.33 and a beta of 1.48. The stock has a fifty day simple moving average of $25.46 and a 200-day simple moving average of $23.99. The company has a current ratio of 1.36, a quick ratio of 1.20 and a debt-to-equity ratio of 0.14.

HudBay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last posted its quarterly earnings results on Friday, May 1st. The mining company reported $0.40 EPS for the quarter, topping analysts' consensus estimates of $0.34 by $0.06. The firm had revenue of $757.30 million for the quarter, compared to analysts' expectations 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 for the quarter was up 27.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.24 earnings per share. Analysts anticipate that HudBay Minerals Inc will post 1.58 EPS for the current year.

HudBay Minerals Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Tuesday, June 9th were given a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend was 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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