527,650 Shares in HudBay Minerals Inc $HBM Bought by Ceredex Value Advisors LLC

Ceredex Value Advisors LLC purchased a new stake in HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 527,650 shares of the mining company’s stock, valued at approximately $12,458,000.

Several other large investors have also added to or reduced their stakes in the stock. Allworth Financial LP raised its holdings in HudBay Minerals by 107.9% in the 3rd quarter. Allworth Financial LP now owns 1,990 shares of the mining company’s stock worth $30,000 after purchasing an additional 1,033 shares in the last quarter. Quarry LP purchased a new stake in shares of HudBay Minerals in the 3rd quarter worth about $38,000. IFP Advisors Inc bought a new stake in shares of HudBay Minerals during the 3rd quarter valued at about $45,000. Banque Cantonale Vaudoise boosted its stake in shares of HudBay Minerals by 513.5% during the 3rd 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 in the last quarter. Finally, Jones Financial Companies Lllp increased its position in shares of HudBay Minerals by 131.6% during the first quarter. Jones Financial Companies Lllp now owns 6,570 shares of the mining company’s stock valued at $50,000 after buying an additional 3,733 shares during the period. Institutional investors own 57.82% of the company’s stock.

HudBay Minerals Stock Up 2.6%

NYSE:HBM opened at $28.18 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.24 and a quick ratio of 1.93. The firm’s 50-day moving average price is $24.40 and its 200-day moving average price is $24.38. The company has a market capitalization of $12.52 billion, a PE ratio of 16.58, a P/E/G ratio of 0.42 and a beta of 1.48. HudBay Minerals Inc has a 1-year low of $10.97 and a 1-year high of $32.15.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last issued its quarterly earnings results on Wednesday, July 29th. The mining company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.02. HudBay Minerals had a net margin of 27.48% and a return on equity of 9.47%. The company had revenue of $631.30 million during the quarter, compared to analysts’ expectations of $632.43 million. During the same period last year, the company posted $0.19 EPS. HudBay Minerals’s revenue was up 17.7% on a year-over-year basis. On average, equities analysts predict that HudBay Minerals Inc will post 1.58 EPS for the current fiscal year.

HudBay Minerals Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Tuesday, September 8th will be paid a dividend of $0.01 per share. The ex-dividend date of this dividend is Tuesday, September 8th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.1%. HudBay Minerals’s dividend payout ratio (DPR) is currently 1.76%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on HBM. Wall Street Zen downgraded shares of HudBay Minerals from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Barclays lifted their price objective on HudBay Minerals from $30.00 to $32.00 and gave the company an “overweight” rating in a research report on Wednesday, July 15th. Jefferies Financial Group reiterated a “buy” rating on shares of HudBay Minerals in a report on Monday, July 6th. Citigroup reissued a “positive” rating on shares of HudBay Minerals in a research report on Wednesday, July 15th. Finally, Weiss Ratings cut HudBay Minerals from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, August 13th. Eleven analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $31.33.

HudBay Minerals 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.