Affinity Wealth Management LLC Takes Position in HudBay Minerals Inc $HBM

Affinity Wealth Management LLC purchased a new position in shares of HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 194,297 shares of the mining company’s stock, valued at approximately $3,857,000.

Other hedge funds have also recently modified their holdings of the company. Allworth Financial LP raised its position 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 buying an additional 1,033 shares during the last quarter. Quarry LP acquired a new stake in shares of HudBay Minerals in the 3rd quarter worth $38,000. Global Retirement Partners LLC purchased a new stake in shares of HudBay Minerals in the third quarter valued at about $45,000. IFP Advisors Inc purchased a new position in HudBay Minerals during the third quarter worth about $45,000. Finally, Banque Cantonale Vaudoise lifted its position in HudBay Minerals by 513.5% in the third quarter. Banque Cantonale Vaudoise now owns 3,172 shares of the mining company’s stock valued at $48,000 after purchasing an additional 2,655 shares during the period. 57.82% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have issued reports on HBM. Wall Street Zen cut HudBay Minerals from a “buy” rating to a “hold” rating in a research report on Sunday, March 1st. UBS Group initiated coverage on shares of HudBay Minerals in a research report on Thursday, January 8th. They set a “buy” rating on the stock. Zacks Research downgraded shares of HudBay Minerals from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 17th. Citigroup raised their price objective on shares of HudBay Minerals from $23.00 to $32.50 and gave the company a “buy” rating in a research note on Wednesday, February 11th. Finally, Scotiabank reissued an “outperform” rating on shares of HudBay Minerals in a report on Monday, January 26th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $26.00.

HudBay Minerals Trading Up 9.9%

Shares of HBM opened at $20.93 on Wednesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.95 and a quick ratio of 0.78. HudBay Minerals Inc has a 1-year low of $5.95 and a 1-year high of $28.74. The stock has a market cap of $8.31 billion, a price-to-earnings ratio of 14.64, a price-to-earnings-growth ratio of 0.26 and a beta of 1.27. The firm has a 50 day simple moving average of $23.74 and a 200-day simple moving average of $19.59.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last posted its earnings results on Friday, February 20th. The mining company reported $0.22 earnings per share (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 analysts’ expectations of $730.13 million. HudBay Minerals had a net margin of 25.71% and a return on equity of 8.91%. HudBay Minerals’s quarterly revenue was up 25.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.18 EPS. Equities analysts forecast 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 was paid on Friday, March 27th. Investors of record on Tuesday, March 10th were paid a dividend of $0.01 per share. The ex-dividend date of this dividend was Tuesday, March 10th. This represents a dividend yield of 9.0%. HudBay Minerals’s dividend payout ratio (DPR) is presently 0.70%.

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.