Aristides Capital LLC Purchases New Position in HudBay Minerals Inc $HBM

Aristides Capital LLC purchased a new stake in HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 24,030 shares of the mining company’s stock, valued at approximately $364,000.

Several other hedge funds have also bought and sold shares of HBM. GMT Capital Corp purchased a new stake in shares of HudBay Minerals during the 2nd quarter worth about $337,809,000. Vanguard Group Inc. boosted its holdings in HudBay Minerals by 2.4% in the 3rd quarter. Vanguard Group Inc. now owns 16,198,255 shares of the mining company’s stock valued at $245,355,000 after purchasing an additional 373,399 shares during the last quarter. L1 Capital Pty Ltd grew its holdings in shares of HudBay Minerals by 4.4% during the 2nd quarter. L1 Capital Pty Ltd now owns 15,054,087 shares of the mining company’s stock worth $159,864,000 after purchasing an additional 630,703 shares during the period. Hancock Prospecting Pty Ltd acquired a new stake in HudBay Minerals in the 2nd quarter valued at approximately $154,359,000. Finally, Invesco Ltd. grew its position in HudBay Minerals by 8.7% in the 2nd quarter. Invesco Ltd. now owns 11,344,408 shares of the mining company’s stock valued at $120,364,000 after acquiring an additional 903,517 shares in the last quarter. Hedge funds and other institutional investors own 57.82% of the company’s stock.

HudBay Minerals Stock Down 3.0%

NYSE:HBM opened at $21.83 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.78 and a current ratio of 0.95. HudBay Minerals Inc has a one year low of $5.95 and a one year high of $28.74. The stock has a 50-day simple moving average of $24.37 and a 200 day simple moving average of $18.84. The company has a market capitalization of $8.66 billion, a price-to-earnings ratio of 15.26, a price-to-earnings-growth ratio of 0.31 and a beta of 1.27.

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 the consensus estimate of $0.40 by ($0.18). HudBay Minerals had a net margin of 25.71% and a return on equity of 8.91%. The business had revenue of $732.90 million during the quarter, compared to analyst estimates of $730.13 million. During the same period last year, the firm posted $0.18 earnings per share. The company’s quarterly revenue was up 25.3% on a year-over-year basis. Sell-side analysts predict that HudBay Minerals Inc will post 0.79 EPS for the current fiscal year.

HudBay Minerals Announces Dividend

The firm also recently declared 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 of this dividend is Tuesday, March 10th. This represents a dividend yield of 9.0%. HudBay Minerals’s dividend payout ratio is presently 0.70%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on HBM. Citigroup upped their target price on shares of HudBay Minerals from $23.00 to $32.50 and gave the stock a “buy” rating in a research note on Wednesday, February 11th. Scotiabank reissued an “outperform” rating on shares of HudBay Minerals in a report on Monday, January 26th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of HudBay Minerals in a research report on Thursday, January 15th. Jefferies Financial Group restated a “buy” rating on shares of HudBay Minerals in a research report on Sunday, December 7th. Finally, Raymond James Financial restated an “outperform” rating on shares of HudBay Minerals in a report on Wednesday, January 14th. 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 stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target 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.