American Century Companies Inc. Buys 1,373,204 Shares of HudBay Minerals Inc $HBM

American Century Companies Inc. raised its stake in HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) by 32.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,642,273 shares of the mining company’s stock after purchasing an additional 1,373,204 shares during the period. American Century Companies Inc. owned approximately 1.42% of HudBay Minerals worth $85,463,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Jones Financial Companies Lllp increased its holdings in shares of HudBay Minerals by 131.6% during the 1st 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. Goldman Sachs Group Inc. grew its position in HudBay Minerals by 144.2% during the first quarter. Goldman Sachs Group Inc. now owns 7,281,095 shares of the mining company’s stock worth $55,264,000 after buying an additional 4,299,428 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in HudBay Minerals by 6.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 439,687 shares of the mining company’s stock valued at $3,337,000 after acquiring an additional 27,944 shares during the period. Envestnet Asset Management Inc. increased its stake in HudBay Minerals by 45.6% during the second quarter. Envestnet Asset Management Inc. now owns 51,581 shares of the mining company’s stock valued at $547,000 after acquiring an additional 16,149 shares during the period. Finally, Y Intercept Hong Kong Ltd acquired a new position in HudBay Minerals in the 2nd quarter valued at approximately $116,000. 57.82% of the stock is currently owned by institutional investors and hedge funds.

HudBay Minerals Stock Performance

NYSE:HBM opened at $24.93 on Wednesday. HudBay Minerals Inc has a 1 year low of $5.95 and a 1 year high of $28.74. The firm has a 50 day moving average of $23.95 and a 200-day moving average of $18.37. The company has a current ratio of 0.95, a quick ratio of 0.78 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $9.89 billion, a P/E ratio of 17.43, a price-to-earnings-growth ratio of 0.36 and a beta of 1.27.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last released 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). 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 for the quarter, compared to the consensus estimate of $730.13 million. During the same quarter last year, the company earned $0.18 earnings per share. The firm’s revenue was up 25.3% on a year-over-year basis. 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 firm also recently announced a dividend, which will be paid on Friday, March 27th. Stockholders of record on Tuesday, March 10th will be paid a $0.01 dividend. The ex-dividend date is Tuesday, March 10th. This represents a dividend yield of 8.0%. HudBay Minerals’s dividend payout ratio (DPR) is 0.70%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on HBM shares. Royal Bank Of Canada reissued an “outperform” rating on shares of HudBay Minerals in a report on Monday, November 17th. Raymond James Financial reaffirmed an “outperform” rating on shares of HudBay Minerals in a research report on Wednesday, January 14th. Scotiabank reissued an “outperform” rating on shares of HudBay Minerals in a report on Monday, January 26th. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of HudBay Minerals in a research note on Thursday, January 15th. Finally, Citigroup lifted their target price on shares of HudBay Minerals from $23.00 to $32.50 and gave the company a “buy” rating in a research report on Wednesday, February 11th. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $26.00.

HudBay Minerals Company 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.