Temasek Holdings Private Ltd Acquires 337,543 Shares of HudBay Minerals Inc $HBM

Key Points

• Temasek Holdings increased its stake in HudBay Minerals by 42.2% in the first quarter, buying 337,543 additional shares and bringing its total to 1,138,071 shares valued at about $23.8 million.
• Wall Street sentiment remains positive, with several firms reiterating or upgrading ratings; the stock now has a consensus Moderate Buy and an average target price of $31.33.
• HudBay Minerals reported stronger-than-expected quarterly results, posting EPS of $0.40 versus the $0.34 estimate and revenue of $757.3 million, while also paying a small quarterly dividend.

Temasek Holdings Private Ltd grew its holdings in HudBay Minerals Inc (NYSE:HBM - Free Report) TSE: HBM by 42.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,138,071 shares of the mining company's stock after buying an additional 337,543 shares during the period. Temasek Holdings Private Ltd owned 0.29% of HudBay Minerals worth $23,774,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Allworth Financial LP increased its holdings in shares of HudBay Minerals by 107.9% during the 3rd 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 last quarter. Quarry LP acquired a new stake in HudBay Minerals during the 3rd quarter valued at $38,000. IFP Advisors Inc acquired a new stake in HudBay Minerals during the 3rd quarter valued at $45,000. Banque Cantonale Vaudoise boosted its position in HudBay Minerals by 513.5% during the third 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 during the period. Finally, Jones Financial Companies Lllp boosted its position in HudBay Minerals by 131.6% during the first quarter. Jones Financial Companies Lllp now owns 6,570 shares of the mining company's stock worth $50,000 after purchasing an additional 3,733 shares during the period. 57.82% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on HBM shares. 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 report on Wednesday, July 15th. Weiss Ratings raised shares of HudBay Minerals from a "buy (b-)" rating to a "buy (b)" rating in a report on Monday, June 29th. Scotiabank reiterated an "outperform" rating on shares of HudBay Minerals in a research note on Thursday, June 25th. Jefferies Financial Group reissued a "buy" rating on shares of HudBay Minerals in a report on Monday, July 6th. Finally, Wall Street Zen upgraded shares of HudBay Minerals from a "hold" rating to a "buy" rating in a research report on Monday. Eleven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $31.33.

HudBay Minerals Stock Performance

Shares of NYSE HBM opened at $22.95 on Wednesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.36 and a quick ratio of 1.20. The stock's fifty day moving average price is $25.09 and its two-hundred day moving average price is $24.07. HudBay Minerals Inc has a one year low of $8.93 and a one year high of $32.15. The firm has a market cap of $10.19 billion, a price-to-earnings ratio of 13.83, a P/E/G ratio of 0.31 and a beta of 1.48.

HudBay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last posted its earnings results on Friday, May 1st. The mining company reported $0.40 earnings per share for the quarter, topping analysts' consensus estimates of $0.34 by $0.06. The company had revenue of $757.30 million during the quarter, compared to the consensus estimate of $684.73 million. HudBay Minerals had a return on equity of 10.04% and a net margin of 27.75%.The company's revenue was up 27.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.24 earnings per share. On average, equities analysts forecast that HudBay Minerals Inc will post 1.61 EPS for the current year.

HudBay Minerals Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Tuesday, June 9th were paid a $0.01 dividend. The ex-dividend date was Tuesday, June 9th. This represents a $0.04 annualized dividend and a yield of 0.2%. HudBay Minerals's payout ratio is 1.81%.

About HudBay Minerals

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.