Janus Henderson Group PLC Buys New Stake in HudBay Minerals Inc $HBM

Key Points

• Janus Henderson Group acquired 1.24 million HudBay Minerals shares worth approximately $26 million, giving it a 0.31% stake; 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.
• Analysts maintain a generally positive outlook, with 11 Buy ratings and two Holds; the consensus rating is Moderate Buy with an average price target of $31.33 versus the reported share price of $23.41.

Janus Henderson Group PLC purchased a new stake in HudBay Minerals Inc (NYSE:HBM - Free Report) TSE: HBM during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,243,668 shares of the mining company's stock, valued at approximately $25,995,000. Janus Henderson Group PLC owned approximately 0.31% of HudBay Minerals at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Artemis Investment Management LLP lifted its stake 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 worth $113,355,000 after purchasing an additional 770,172 shares during the last quarter. Goehring & Rozencwajg Associates LLC increased its stake in HudBay Minerals by 6.6% in the fourth 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 last quarter. Maxi Investments CY Ltd acquired a new stake in HudBay Minerals during the fourth quarter worth approximately $993,000. Norges Bank acquired a new stake in HudBay Minerals during the fourth quarter worth approximately $105,315,000. Finally, J. Safra Sarasin Holding AG lifted its position in shares of HudBay Minerals by 522.5% during the 1st quarter. J. Safra Sarasin Holding AG now owns 96,495 shares of the mining company's stock worth $2,014,000 after buying an additional 80,995 shares during the last quarter. 57.82% of the stock is owned by hedge funds and other institutional investors.

HudBay Minerals Stock Performance

Shares of HBM opened at $23.41 on Tuesday. 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 firm has a market cap of $10.40 billion, a PE ratio of 13.77, a price-to-earnings-growth ratio of 0.35 and a beta of 1.48. The company's 50 day simple moving average is $24.63 and its 200-day simple moving average is $24.15. HudBay Minerals Inc has a 12-month low of $9.04 and a 12-month high of $32.15.

HudBay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last released 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 quarter in the prior year, the firm earned $0.19 EPS. HudBay Minerals's revenue for the quarter was up 17.7% on a year-over-year basis. As a group, equities analysts predict that HudBay Minerals Inc will post 1.55 EPS for the current year.

HudBay Minerals Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Tuesday, September 8th will be paid a $0.01 dividend. 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 payout ratio is currently 1.18%.

Analysts Set New Price Targets

HBM has been the subject of several research analyst reports. Scotiabank restated an "outperform" rating on shares of HudBay Minerals in a report on Thursday. Canadian Imperial Bank of Commerce reissued an "outperform" rating on shares of HudBay Minerals in a research report on Tuesday, April 21st. Barclays upped their price objective on shares of HudBay Minerals from $30.00 to $32.00 and gave the company an "overweight" rating in a research note on Wednesday, July 15th. Weiss Ratings raised HudBay Minerals from a "buy (b-)" rating to a "buy (b)" rating in a report on Monday, June 29th. Finally, Bank of America cut their target price on HudBay Minerals from $33.50 to $29.50 and set a "buy" rating on the stock in a research report on Thursday, July 9th. Eleven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, HudBay Minerals presently has a consensus rating of "Moderate Buy" and an average target price of $31.33.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source