4,215,842 Shares in HudBay Minerals Inc $HBM Bought by William Blair Investment Management LLC

William Blair Investment Management LLC acquired a new position in shares of HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) during the second quarter, Holdings Channel.com reports. The institutional investor acquired 4,215,842 shares of the mining company’s stock, valued at approximately $99,536,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. First Trust Advisors LP boosted its stake in shares of HudBay Minerals by 35.3% during the first quarter. First Trust Advisors LP now owns 229,948 shares of the mining company’s stock valued at $4,814,000 after purchasing an additional 60,025 shares in the last quarter. Bank of America Corp DE increased its stake in shares of HudBay Minerals by 53.3% in the first quarter. Bank of America Corp DE now owns 1,883,698 shares of the mining company’s stock valued at $39,369,000 after buying an additional 655,308 shares during the period. Artemis Investment Management LLP increased its stake in shares of HudBay Minerals by 15.6% in the fourth quarter. Artemis Investment Management LLP now owns 5,709,453 shares of the mining company’s stock valued at $113,355,000 after buying an additional 770,172 shares during the period. Goehring & Rozencwajg Associates LLC raised its holdings in HudBay Minerals by 6.6% in the 4th quarter. Goehring & Rozencwajg Associates LLC now owns 824,951 shares of the mining company’s stock valued at $16,380,000 after buying an additional 51,387 shares during the last quarter. Finally, Maxi Investments CY Ltd bought a new position in HudBay Minerals in the 4th quarter valued at approximately $993,000. Institutional investors and hedge funds own 57.82% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Barclays boosted their target price on shares of HudBay Minerals from $30.00 to $32.00 and gave the stock an “overweight” rating in a report on Wednesday, July 15th. Jefferies Financial Group reaffirmed a “buy” rating on shares of HudBay Minerals in a research note on Monday, July 6th. Scotiabank reiterated an “outperform” rating on shares of HudBay Minerals in a report on Thursday, July 30th. Bank of America reduced their price objective on shares of HudBay Minerals from $33.50 to $29.50 and set a “buy” rating on the stock in a research note on Thursday, July 9th. Finally, Wall Street Zen lowered HudBay Minerals from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Eleven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $31.33.

HudBay Minerals Stock Performance

Shares of HBM stock opened at $30.08 on Friday. The business’s 50 day simple moving average is $24.45 and its 200 day simple moving average is $24.42. HudBay Minerals Inc has a one year low of $11.21 and a one year high of $32.15. The stock has a market capitalization of $13.36 billion, a PE ratio of 17.69, a PEG ratio of 0.43 and a beta of 1.48. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.24 and a quick ratio of 1.93.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last released its earnings results on Wednesday, July 29th. The mining company reported $0.28 earnings per share 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 business had revenue of $631.30 million during the quarter, compared to the consensus estimate of $632.43 million. During the same quarter in the prior year, the firm posted $0.19 EPS. The company’s revenue for the quarter was up 17.7% compared to the same quarter last year. As a group, research analysts forecast that HudBay Minerals Inc will post 1.58 earnings per share for the current year.

HudBay Minerals Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Tuesday, September 8th will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date of this dividend is Tuesday, September 8th. HudBay Minerals’s dividend payout ratio is currently 1.18%.

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.