HudBay Minerals Inc $HBM Shares Acquired by Regal Partners Ltd

Regal Partners Ltd lifted its stake in HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) by 114.4% in the first quarter, HoldingsChannel reports. The firm owned 728,828 shares of the mining company’s stock after acquiring an additional 388,853 shares during the quarter. HudBay Minerals makes up about 0.8% of Regal Partners Ltd’s investment portfolio, making the stock its 26th biggest position. Regal Partners Ltd’s holdings in HudBay Minerals were worth $15,233,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. FIL Ltd raised its position in HudBay Minerals by 202.0% in the 4th quarter. FIL Ltd now owns 33,143,172 shares of the mining company’s stock valued at $658,010,000 after purchasing an additional 22,169,339 shares in the last quarter. Invesco Ltd. grew its position in shares of HudBay Minerals by 0.4% during the third quarter. Invesco Ltd. now owns 11,391,356 shares of the mining company’s stock worth $172,693,000 after buying an additional 46,948 shares in the last quarter. Mackenzie Financial Corp grew its position in shares of HudBay Minerals by 116.1% during the fourth quarter. Mackenzie Financial Corp now owns 10,178,626 shares of the mining company’s stock worth $202,327,000 after buying an additional 5,468,109 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of HudBay Minerals by 15.8% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 9,457,298 shares of the mining company’s stock worth $187,743,000 after buying an additional 1,293,023 shares during the period. Finally, Bank of Nova Scotia raised its holdings in HudBay Minerals by 79.2% in the fourth quarter. Bank of Nova Scotia now owns 7,659,783 shares of the mining company’s stock valued at $152,047,000 after acquiring an additional 3,386,399 shares in 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 $21.79 on Wednesday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.20 and a current ratio of 1.36. HudBay Minerals Inc has a fifty-two week low of $8.93 and a fifty-two week high of $32.15. The firm has a market capitalization of $9.68 billion, a PE ratio of 13.13, a price-to-earnings-growth ratio of 0.35 and a beta of 1.48. The stock’s 50-day simple moving average is $24.78 and its 200-day simple moving average is $24.13.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last posted its earnings results on Friday, May 1st. The mining company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.06. The firm had revenue of $757.30 million during the quarter, compared to analysts’ expectations of $684.73 million. HudBay Minerals had a return on equity of 10.04% and a net margin of 27.75%.The firm’s revenue was up 27.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.24 earnings per share. As a group, equities research analysts forecast that HudBay Minerals Inc will post 1.55 EPS for the current fiscal year.

HudBay Minerals Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Tuesday, June 9th were issued a dividend of $0.01 per share. The ex-dividend date of this dividend was Tuesday, June 9th. This represents a $0.04 dividend on an annualized basis and a yield of 0.2%. HudBay Minerals’s dividend payout ratio (DPR) is presently 1.20%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on HBM. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of HudBay Minerals in a research note on Tuesday, April 21st. Weiss Ratings raised shares of HudBay Minerals from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, June 29th. Jefferies Financial Group restated a “buy” rating on shares of HudBay Minerals in a report on Monday, July 6th. Bank of America decreased their price objective on shares of HudBay Minerals from $33.50 to $29.50 and set a “buy” rating for the company in a research report on Thursday, July 9th. Finally, Citigroup reiterated a “positive” rating on shares of HudBay Minerals in a research note on Wednesday, July 15th. Eleven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $31.33.

About HudBay Minerals

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.