Oliver Luxxe Assets LLC Has $2.04 Million Stock Holdings in HudBay Minerals Inc $HBM

Key Points

• Oliver Luxxe Assets LLC reduced its HudBay Minerals stake by 38% in the second quarter, selling 52,898 shares and retaining 86,451 shares valued at approximately $2.04 million.
• Institutional ownership remains significant at 57.82%, with several major investors—including FIL Ltd. and Mackenzie Financial—substantially increasing their positions.
• HudBay reported quarterly EPS of $0.28, exceeding estimates of $0.26, 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 share price of $27.59.

Oliver Luxxe Assets LLC trimmed its stake in shares of HudBay Minerals Inc (NYSE:HBM - Free Report) TSE: HBM by 38.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 86,451 shares of the mining company's stock after selling 52,898 shares during the quarter. Oliver Luxxe Assets LLC's holdings in HudBay Minerals were worth $2,041,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. FIL Ltd lifted its stake in shares of HudBay Minerals by 202.0% during the 4th quarter. FIL Ltd now owns 33,143,172 shares of the mining company's stock worth $658,010,000 after buying an additional 22,169,339 shares during the last quarter. Invesco Ltd. raised its holdings in HudBay Minerals by 0.4% in the 3rd quarter. Invesco Ltd. now owns 11,391,356 shares of the mining company's stock valued at $172,693,000 after acquiring an additional 46,948 shares during the period. Mackenzie Financial Corp lifted its position in HudBay Minerals by 116.1% during the fourth quarter. Mackenzie Financial Corp now owns 10,178,626 shares of the mining company's stock worth $202,327,000 after acquiring an additional 5,468,109 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in HudBay Minerals by 15.8% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 9,457,298 shares of the mining company's stock worth $187,743,000 after acquiring an additional 1,293,023 shares during the last quarter. Finally, Royal Bank of Canada boosted its holdings in shares of HudBay Minerals by 7.8% during the first quarter. Royal Bank of Canada now owns 8,254,831 shares of the mining company's stock worth $172,526,000 after acquiring an additional 597,422 shares during the period. 57.82% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Citigroup reaffirmed a "positive" rating on shares of HudBay Minerals in a research report on Wednesday, July 15th. Canadian Imperial Bank of Commerce reissued an "outperform" rating on shares of HudBay Minerals in a report on Tuesday, April 21st. Barclays boosted their price target on HudBay Minerals from $30.00 to $32.00 and gave the company an "overweight" rating in a research note on Wednesday, July 15th. Bank of America decreased their price objective on HudBay Minerals from $33.50 to $29.50 and set a "buy" rating on the stock in a report on Thursday, July 9th. Finally, Wall Street Zen cut HudBay Minerals from a "buy" rating to a "hold" rating in a research report on Saturday, August 1st. Eleven analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $31.33.

HudBay Minerals Stock Up 4.9%

Shares of NYSE HBM opened at $27.59 on Friday. 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 company has a market cap of $12.26 billion, a price-to-earnings ratio of 16.23, a PEG ratio of 0.42 and a beta of 1.48. HudBay Minerals Inc has a 12 month low of $9.29 and a 12 month high of $32.15. The stock has a 50-day moving average price of $24.51 and a two-hundred day moving average price of $24.24.

HudBay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last posted its quarterly earnings results on Wednesday, July 29th. The mining company reported $0.28 earnings per share for the quarter, beating analysts' consensus estimates of $0.26 by $0.02. The company had revenue of $631.30 million for the quarter, compared to the consensus estimate of $632.43 million. HudBay Minerals had a net margin of 27.48% and a return on equity of 9.47%. The firm's quarterly revenue was up 17.7% compared to the same quarter last year. During the same period last year, the company posted $0.19 EPS. As a group, analysts forecast that HudBay Minerals Inc will post 1.58 earnings per share for the current fiscal year.

HudBay Minerals Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Tuesday, September 8th will be paid a $0.01 dividend. The ex-dividend date of this dividend is Tuesday, September 8th. This represents a $0.04 annualized dividend and a yield of 0.1%. HudBay Minerals's dividend payout ratio is presently 1.76%.

HudBay Minerals Company 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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