Clear Harbor Asset Management LLC Acquires 6,600 Shares of HudBay Minerals Inc $HBM

Clear Harbor Asset Management LLC boosted its holdings in shares of HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) by 66.0% in the second quarter, HoldingsChannel reports. The firm owned 16,600 shares of the mining company’s stock after acquiring an additional 6,600 shares during the period. Clear Harbor Asset Management LLC’s holdings in HudBay Minerals were worth $176,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Millennium Management LLC increased its stake in shares of HudBay Minerals by 298.5% in the first quarter. Millennium Management LLC now owns 6,115,053 shares of the mining company’s stock valued at $46,411,000 after buying an additional 4,580,718 shares in the last quarter. L1 Capital Pty Ltd grew its holdings in HudBay Minerals by 44.1% during the 1st quarter. L1 Capital Pty Ltd now owns 14,423,384 shares of the mining company’s stock worth $109,365,000 after acquiring an additional 4,410,778 shares during the last quarter. Goldman Sachs Group Inc. increased its position in HudBay Minerals by 144.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 7,281,095 shares of the mining company’s stock valued at $55,264,000 after acquiring an additional 4,299,428 shares in the last quarter. EdgePoint Investment Group Inc. increased its position in HudBay Minerals by 50.6% in the 1st quarter. EdgePoint Investment Group Inc. now owns 7,628,971 shares of the mining company’s stock valued at $57,848,000 after acquiring an additional 2,561,607 shares in the last quarter. Finally, Carrhae Capital LLP bought a new position in shares of HudBay Minerals in the first quarter worth about $14,244,000. Institutional investors and hedge funds own 57.82% of the company’s stock.

Analyst Ratings Changes

HBM has been the topic of several research analyst reports. Veritas raised shares of HudBay Minerals to a “strong-buy” rating in a research note on Monday, July 7th. Wall Street Zen upgraded HudBay Minerals from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, September 10th. Raymond James Financial upgraded HudBay Minerals to a “moderate buy” rating in a research report on Monday, June 30th. National Bankshares reiterated an “outperform” rating on shares of HudBay Minerals in a report on Thursday, August 14th. Finally, CIBC reiterated an “outperform” rating on shares of HudBay Minerals in a research report on Tuesday, July 15th. Two investment analysts have rated the stock with a Strong Buy rating and seven have issued a Buy rating to the company’s stock. Based on data from MarketBeat.com, HudBay Minerals has a consensus rating of “Buy”.

HudBay Minerals Stock Down 5.5%

NYSE:HBM opened at $13.44 on Wednesday. The company has a quick ratio of 0.86, a current ratio of 1.03 and a debt-to-equity ratio of 0.20. HudBay Minerals Inc has a 12-month low of $5.95 and a 12-month high of $14.31. The stock’s fifty day simple moving average is $11.31 and its 200-day simple moving average is $9.47. The firm has a market capitalization of $5.32 billion, a P/E ratio of 18.40, a P/E/G ratio of 0.34 and a beta of 1.51.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last released its quarterly earnings data on Wednesday, August 13th. The mining company reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.08. HudBay Minerals had a return on equity of 10.73% and a net margin of 13.13%.The business had revenue of $536.40 million during the quarter, compared to the consensus estimate of $558.21 million. The company’s quarterly revenue was up 26.1% compared to the same quarter last year. Equities research analysts expect that HudBay Minerals Inc will post 0.79 earnings per share for the current year.

HudBay Minerals Increases Dividend

The company also recently declared a semi-annual dividend, which was paid on Friday, September 19th. Investors of record on Tuesday, September 2nd were given a $0.0073 dividend. The ex-dividend date was Tuesday, September 2nd. This represents a dividend yield of 17.0%. This is a positive change from HudBay Minerals’s previous semi-annual dividend of $0.01. HudBay Minerals’s dividend payout ratio is 1.37%.

HudBay Minerals Company Profile

Hudbay Minerals Inc, a diversified mining company, focuses on the exploration, development, operation, and optimization of properties in North and South America. It produces copper concentrates containing gold, silver, and molybdenum; gold concentrates containing zinc; zinc concentrates; molybdenum concentrates; and silver/gold doré.