110,206 Shares in HudBay Minerals Inc $HBM Acquired by AIA Group Ltd

AIA Group Ltd purchased a new stake in HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 110,206 shares of the mining company’s stock, valued at approximately $1,671,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Allworth Financial LP increased its holdings in 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 purchasing an additional 1,033 shares in the last quarter. IFP Advisors Inc acquired a new position in HudBay Minerals during the 3rd quarter worth approximately $45,000. Swiss Life Asset Management Ltd grew its stake in shares of HudBay Minerals by 74.8% during the 3rd quarter. Swiss Life Asset Management Ltd now owns 18,390 shares of the mining company’s stock worth $279,000 after acquiring an additional 7,869 shares in the last quarter. CIBC Private Wealth Group LLC grew its stake in shares of HudBay Minerals by 29.5% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 9,714 shares of the mining company’s stock worth $147,000 after acquiring an additional 2,215 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co raised its holdings in shares of HudBay Minerals by 130.7% in the third quarter. CANADA LIFE ASSURANCE Co now owns 151,487 shares of the mining company’s stock valued at $2,301,000 after purchasing an additional 85,815 shares during the last quarter. 57.82% of the stock is owned by institutional investors and hedge funds.

HudBay Minerals Price Performance

Shares of NYSE HBM opened at $18.05 on Friday. HudBay Minerals Inc has a 1-year low of $5.95 and a 1-year high of $28.74. The stock has a fifty day simple moving average of $24.23 and a two-hundred day simple moving average of $19.18. The firm has a market cap of $7.16 billion, a price-to-earnings ratio of 12.62, a price-to-earnings-growth ratio of 0.25 and a beta of 1.27. The company has a current ratio of 0.95, a quick ratio of 0.78 and a debt-to-equity ratio of 0.18.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last posted its quarterly 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). The company had revenue of $732.90 million during the quarter, compared to the consensus estimate of $730.13 million. HudBay Minerals had a return on equity of 8.91% and a net margin of 25.71%.HudBay Minerals’s revenue was up 25.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.18 earnings per share. Analysts anticipate that HudBay Minerals Inc will post 0.79 earnings per share for the current year.

HudBay Minerals Dividend Announcement

The company also recently declared 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 9.0%. The ex-dividend date is Tuesday, March 10th. HudBay Minerals’s payout ratio is 0.70%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Scotiabank reaffirmed an “outperform” rating on shares of HudBay Minerals in a research report on Monday, January 26th. Weiss Ratings upgraded shares of HudBay Minerals from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, February 10th. Wall Street Zen downgraded shares of HudBay Minerals from a “buy” rating to a “hold” rating in a research note on Sunday, March 1st. Raymond James Financial reiterated an “outperform” rating on shares of HudBay Minerals in a report on Wednesday, January 14th. Finally, Zacks Research cut HudBay Minerals from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 17th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $26.00.

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.