HudBay Minerals Inc $HBM Shares Bought by Ballentine Partners LLC

Ballentine Partners LLC lifted its stake in shares of HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) by 10.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,757 shares of the mining company’s stock after buying an additional 2,768 shares during the quarter. Ballentine Partners LLC’s holdings in HudBay Minerals were worth $316,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in HBM. Millennium Management LLC grew its holdings in HudBay Minerals by 298.5% during the 1st quarter. Millennium Management LLC now owns 6,115,053 shares of the mining company’s stock worth $46,411,000 after acquiring an additional 4,580,718 shares in the last quarter. L1 Capital Pty Ltd lifted its position in shares of HudBay Minerals by 44.1% during the first quarter. L1 Capital Pty Ltd now owns 14,423,384 shares of the mining company’s stock worth $109,365,000 after purchasing an additional 4,410,778 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in HudBay Minerals by 144.2% in the first quarter. Goldman Sachs Group Inc. now owns 7,281,095 shares of the mining company’s stock worth $55,264,000 after purchasing an additional 4,299,428 shares in the last quarter. EdgePoint Investment Group Inc. increased its holdings in HudBay Minerals by 50.6% in the first quarter. EdgePoint Investment Group Inc. now owns 7,628,971 shares of the mining company’s stock valued at $57,848,000 after buying an additional 2,561,607 shares during the last quarter. Finally, Carrhae Capital LLP bought a new stake in HudBay Minerals in the first quarter valued at about $14,244,000. Institutional investors own 57.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. The Goldman Sachs Group initiated coverage on HudBay Minerals in a research report on Monday, September 8th. They issued a “buy” rating for the company. Wall Street Zen raised shares of HudBay Minerals from a “buy” rating to a “strong-buy” rating in a report on Wednesday, September 10th. CIBC reissued an “outperform” rating on shares of HudBay Minerals in a report on Tuesday, July 15th. Veritas upgraded shares of HudBay Minerals to a “strong-buy” rating in a research report on Monday, July 7th. Finally, National Bankshares reaffirmed an “outperform” rating on shares of HudBay Minerals in a research report on Thursday, August 14th. Two investment analysts have rated the stock with a Strong Buy rating and seven have given a Buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy”.

HudBay Minerals Stock Up 1.4%

HBM stock opened at $14.16 on Monday. The stock has a market cap of $5.60 billion, a PE ratio of 19.39, a price-to-earnings-growth ratio of 0.34 and a beta of 1.51. The firm’s 50-day simple moving average is $11.56 and its 200 day simple moving average is $9.63. HudBay Minerals Inc has a fifty-two week low of $5.95 and a fifty-two week high of $14.42. The company has a quick ratio of 0.86, a current ratio of 1.03 and a debt-to-equity ratio of 0.20.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last posted its earnings results on Wednesday, August 13th. The mining company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.11 by $0.08. HudBay Minerals had a net margin of 13.13% and a return on equity of 10.73%. The firm had revenue of $536.40 million during the quarter, compared to analysts’ expectations of $558.21 million. The business’s revenue for the quarter was up 26.1% on a year-over-year basis. As a group, sell-side analysts predict that HudBay Minerals Inc will post 0.79 EPS for the current year.

HudBay Minerals Increases Dividend

The firm also recently announced a semi-annual dividend, which was paid on Friday, September 19th. Shareholders of record on Tuesday, September 2nd were paid a dividend of $0.0073 per share. This represents a yield of 17.0%. The ex-dividend date of this dividend was Tuesday, September 2nd. This is an increase from HudBay Minerals’s previous semi-annual dividend of $0.01. HudBay Minerals’s dividend payout ratio (DPR) is presently 1.37%.

HudBay Minerals Profile

Hudbay Minerals Inc, a diversified mining company, focuses on the exploration, development, operation, and optimization of properties in North and South America. It produces copper concentrates containing gold, silver, and molybdenum; gold concentrates containing zinc; zinc concentrates; molybdenum concentrates; and silver/gold doré.