Clear Harbor Asset Management LLC Makes New $734,000 Investment in HudBay Minerals Inc $HBM

Clear Harbor Asset Management LLC purchased a new stake in shares of HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 31,100 shares of the mining company’s stock, valued at approximately $734,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of HBM. Jones Financial Companies Lllp lifted its position in HudBay Minerals by 131.6% in the first quarter. Jones Financial Companies Lllp now owns 6,570 shares of the mining company’s stock valued at $50,000 after purchasing an additional 3,733 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in HudBay Minerals by 144.2% during 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 buying an additional 4,299,428 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of HudBay Minerals by 6.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 439,687 shares of the mining company’s stock valued at $3,337,000 after acquiring an additional 27,944 shares during the period. Geode Capital Management LLC increased its position in shares of HudBay Minerals by 7.4% in the second quarter. Geode Capital Management LLC now owns 221,685 shares of the mining company’s stock valued at $2,363,000 after acquiring an additional 15,235 shares during the period. Finally, Creative Planning raised its stake in shares of HudBay Minerals by 5.4% during the second quarter. Creative Planning now owns 25,067 shares of the mining company’s stock valued at $266,000 after acquiring an additional 1,289 shares during the last quarter. 57.82% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

HBM has been the topic of several recent analyst reports. Weiss Ratings cut HudBay Minerals from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, August 13th. Wall Street Zen lowered HudBay Minerals from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Scotiabank reiterated an “outperform” rating on shares of HudBay Minerals in a report on Thursday, July 30th. Citigroup reiterated a “positive” rating on shares of HudBay Minerals in a research report on Wednesday, July 15th. Finally, Jefferies Financial Group reissued a “buy” rating on shares of HudBay Minerals in a research note on Monday, July 6th. Eleven equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $31.33.

HudBay Minerals Stock Up 0.1%

Shares of NYSE:HBM opened at $30.08 on Monday. The firm has a market capitalization of $13.36 billion, a P/E ratio of 17.69, a P/E/G ratio of 0.46 and a beta of 1.48. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.93 and a current ratio of 2.24. The stock has a 50 day moving average price of $24.45 and a 200-day moving average price of $24.42. HudBay Minerals Inc has a 52-week low of $11.21 and a 52-week high of $32.15.

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

HudBay Minerals Dividend Announcement

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

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.