HudBay Minerals Inc $HBM Stake Lifted by Citigroup Inc.

Citigroup Inc. raised its stake in HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) by 1,144.8% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 672,567 shares of the mining company’s stock after buying an additional 618,538 shares during the quarter. Citigroup Inc. owned approximately 0.17% of HudBay Minerals worth $10,190,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. Global Retirement Partners LLC bought a new stake in HudBay Minerals in the 3rd quarter valued at about $45,000. Jones Financial Companies Lllp increased its stake in shares of HudBay Minerals by 131.6% in the first quarter. Jones Financial Companies Lllp now owns 6,570 shares of the mining company’s stock valued at $50,000 after purchasing an additional 3,733 shares during the period. Plato Investment Management Ltd acquired a new stake in shares of HudBay Minerals in the second quarter valued at approximately $84,000. Y Intercept Hong Kong Ltd bought a new stake in shares of HudBay Minerals during the second quarter valued at approximately $116,000. Finally, Savvy Advisors Inc. acquired a new position in shares of HudBay Minerals during the second quarter worth approximately $141,000. Institutional investors own 57.82% of the company’s stock.

HudBay Minerals Price Performance

Shares of HudBay Minerals stock opened at $28.32 on Friday. HudBay Minerals Inc has a 52 week low of $5.95 and a 52 week high of $28.74. The company has a current ratio of 0.95, a quick ratio of 0.76 and a debt-to-equity ratio of 0.18. The stock has a market cap of $11.24 billion, a PE ratio of 19.81, a price-to-earnings-growth ratio of 0.71 and a beta of 1.33. The company’s 50-day moving average price is $23.71 and its two-hundred day moving average price is $18.12.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last released its earnings results on Friday, February 20th. The mining company reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.18). HudBay Minerals had a return on equity of 8.91% and a net margin of 25.71%.The business had revenue of $732.90 million during the quarter, compared to the consensus estimate of $730.13 million. During the same quarter in the previous year, the firm earned $0.18 earnings per share. The firm’s revenue for the quarter was up 25.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that HudBay Minerals Inc will post 0.79 EPS for the current fiscal year.

HudBay Minerals Dividend Announcement

The business also recently disclosed a dividend, which will be paid on Friday, March 27th. Stockholders of record on Tuesday, March 10th will be given a dividend of $0.01 per share. This represents a dividend yield of 8.0%. The ex-dividend date is Tuesday, March 10th. HudBay Minerals’s dividend payout ratio is 0.70%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on HBM. Raymond James Financial restated an “outperform” rating on shares of HudBay Minerals in a research report on Wednesday, January 14th. Royal Bank Of Canada reissued an “outperform” rating on shares of HudBay Minerals in a report on Monday, November 17th. Scotiabank restated an “outperform” rating on shares of HudBay Minerals in a research note on Monday, January 26th. Jefferies Financial Group reiterated a “buy” rating on shares of HudBay Minerals in a research report on Sunday, December 7th. Finally, Zacks Research downgraded shares of HudBay Minerals from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 17th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, HudBay Minerals has a consensus rating of “Buy” and a consensus target price of $26.00.

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.