OMERS ADMINISTRATION Corp Invests $12.61 Million in HudBay Minerals Inc $HBM

Key Points

• OMERS Administration Corp acquired 534,384 HudBay Minerals shares worth approximately $12.61 million, giving it a 0.12% stake. Institutional investors collectively own 57.82% of the company.
• Analyst sentiment remains favorable, with 11 Buy ratings and two Hold ratings, producing a consensus “Moderate Buy” rating and a $31.33 target price.
• 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.

OMERS ADMINISTRATION Corp acquired a new position in HudBay Minerals Inc (NYSE:HBM - Free Report) TSE: HBM in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 534,384 shares of the mining company's stock, valued at approximately $12,614,000. OMERS ADMINISTRATION Corp owned 0.12% of HudBay Minerals at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Rakuten Securities Inc. bought a new position in HudBay Minerals in the second quarter valued at about $28,000. Allworth Financial LP raised its position in HudBay Minerals by 107.9% in the third quarter. Allworth Financial LP now owns 1,990 shares of the mining company's stock worth $30,000 after acquiring an additional 1,033 shares during the period. Quarry LP purchased a new position in shares of HudBay Minerals during the 3rd quarter worth $38,000. IFP Advisors Inc bought a new stake in shares of HudBay Minerals during the 3rd quarter valued at $45,000. Finally, Banque Cantonale Vaudoise increased its stake in shares of HudBay Minerals by 513.5% in the 3rd quarter. Banque Cantonale Vaudoise now owns 3,172 shares of the mining company's stock worth $48,000 after purchasing an additional 2,655 shares in the last quarter. Hedge funds and other institutional investors own 57.82% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on HBM shares. Barclays boosted their price target on HudBay Minerals from $30.00 to $32.00 and gave the company an "overweight" rating in a report on Wednesday, July 15th. Scotiabank reissued an "outperform" rating on shares of HudBay Minerals in a report on Thursday, July 30th. Weiss Ratings downgraded shares of HudBay Minerals from a "buy (b)" rating to a "buy (b-)" rating in a report on Thursday, August 13th. Jefferies Financial Group reissued a "buy" rating on shares of HudBay Minerals in a research note on Monday, July 6th. Finally, Wall Street Zen cut shares of HudBay Minerals from a "buy" rating to a "hold" rating in a research note on Saturday, August 1st. Eleven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, HudBay Minerals currently has an average rating of "Moderate Buy" and a consensus target price of $31.33.

HudBay Minerals Stock Up 0.1%

Shares of HBM opened at $30.08 on Monday. The business's 50 day moving average is $24.45 and its 200 day moving average is $24.42. 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 12-month low of $11.21 and a 12-month high of $32.15. The company has a market capitalization of $13.36 billion, a PE ratio of 17.69, a price-to-earnings-growth ratio of 0.46 and a beta of 1.48.

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, topping the consensus estimate of $0.26 by $0.02. HudBay Minerals had a return on equity of 9.47% and a net margin of 27.48%.The business had revenue of $631.30 million during the quarter, compared to the consensus estimate of $632.43 million. During the same period in the prior year, the company posted $0.19 EPS. The firm's revenue for the quarter was up 17.7% compared to the same quarter last year. Research analysts expect that HudBay Minerals Inc will post 1.58 earnings per share for the current fiscal year.

HudBay Minerals Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Tuesday, September 8th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.1%. The ex-dividend date is Tuesday, September 8th. HudBay Minerals's dividend payout ratio is currently 1.76%.

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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