Shell Asset Management Co. continued to hold its position in shares of HudBay Minerals Inc. (NYSE:HBM) during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 26,063 shares of the mining company’s stock at the end of the second quarter. Shell Asset Management Co.’s holdings in HudBay Minerals were worth $161,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. BlackRock Fund Advisors raised its position in shares of HudBay Minerals by 1.1% in the first quarter. BlackRock Fund Advisors now owns 49,772 shares of the mining company’s stock valued at $183,000 after buying an additional 535 shares during the period. Scotia Capital Inc. raised its position in shares of HudBay Minerals by 445.5% in the first quarter. Scotia Capital Inc. now owns 179,097 shares of the mining company’s stock valued at $657,000 after buying an additional 146,268 shares during the period. Acadian Asset Management LLC acquired a new position in shares of HudBay Minerals during the second quarter valued at about $382,000. Finally, CIBC World Markets Inc. raised its position in shares of HudBay Minerals by 17.7% in the second quarter. CIBC World Markets Inc. now owns 252,191 shares of the mining company’s stock valued at $1,205,000 after buying an additional 37,849 shares during the period. 66.87% of the stock is currently owned by institutional investors.
HudBay Minerals Inc. (NYSE:HBM) traded down 0.26% during mid-day trading on Thursday, hitting $3.81. 138,662 shares of the stock were exchanged. The company’s market capitalization is $900.04 million. The stock has a 50 day moving average price of $3.93 and a 200 day moving average price of $4.30. HudBay Minerals Inc. has a 1-year low of $1.56 and a 1-year high of $5.74.
HudBay Minerals (NYSE:HBM) last released its quarterly earnings data on Wednesday, July 27th. The mining company reported ($0.02) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by $0.07. HudBay Minerals had a negative net margin of 26.09% and a positive return on equity of 0.50%. The firm earned $247 million during the quarter, compared to analyst estimates of $249.18 million. During the same period in the prior year, the company earned ($0.24) EPS. The business’s quarterly revenue was up 63.7% compared to the same quarter last year. On average, equities analysts anticipate that HudBay Minerals Inc. will post $0.07 earnings per share for the current fiscal year.
The company also recently disclosed a semiannual dividend, which was paid on Friday, September 30th. Stockholders of record on Friday, September 9th were paid a $0.0076 dividend. The ex-dividend date of this dividend was Wednesday, September 7th. This represents a dividend yield of 0.3%. This is an increase from HudBay Minerals’s previous semiannual dividend of $0.01. HudBay Minerals’s dividend payout ratio is currently -1.63%.
HBM has been the topic of several recent research reports. Credit Suisse Group AG lowered shares of HudBay Minerals from an “outperform” rating to a “neutral” rating in a research note on Thursday, July 28th. Scotiabank reaffirmed an “outperform” rating and issued a $8.00 target price on shares of HudBay Minerals in a research note on Thursday, July 28th. Zacks Investment Research lowered shares of HudBay Minerals from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 28th. BMO Capital Markets lowered shares of HudBay Minerals from an “outperform” rating to a “market perform” rating and set a $7.50 price objective on the stock. in a research note on Tuesday, August 2nd. They noted that the move was a valuation call. Finally, Barclays PLC reissued an “underweight” rating on shares of HudBay Minerals in a research note on Wednesday, August 3rd. One research analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company. HudBay Minerals has an average rating of “Buy” and a consensus price target of $7.04.
HudBay Minerals Company Profile
HudBay Minerals Inc is a Canada-based mining company. The Company is engaged in the production of copper concentrate, consisting of copper, gold and silver, as well as zinc metal. The Company is focused on the discovery, production and marketing of base and precious metals. The Company has assets in North and South America.
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