Texas Bank & Trust Co Buys New Shares in HudBay Minerals Inc $HBM

Texas Bank & Trust Co purchased a new position in HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 25,600 shares of the mining company’s stock, valued at approximately $508,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Allworth Financial LP boosted its position in shares of HudBay Minerals by 107.9% in the third quarter. Allworth Financial LP now owns 1,990 shares of the mining company’s stock worth $30,000 after acquiring an additional 1,033 shares during the last quarter. Quarry LP purchased a new stake in shares of HudBay Minerals during the 3rd quarter valued at $38,000. IFP Advisors Inc acquired a new stake in shares of HudBay Minerals during the 3rd quarter worth $45,000. Banque Cantonale Vaudoise grew its position in HudBay Minerals by 513.5% in the third quarter. Banque Cantonale Vaudoise now owns 3,172 shares of the mining company’s stock valued at $48,000 after acquiring an additional 2,655 shares in the last quarter. Finally, Kelleher Financial Advisors acquired a new stake in HudBay Minerals in the third quarter valued at approximately $67,000. Institutional investors and hedge funds own 57.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on HBM shares. Barclays began coverage on shares of HudBay Minerals in a research report on Thursday. They set an “overweight” rating and a $30.00 target price on the stock. Scotiabank reaffirmed an “outperform” rating on shares of HudBay Minerals in a research note on Monday, January 26th. Zacks Research lowered shares of HudBay Minerals from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 17th. Weiss Ratings raised shares of HudBay Minerals from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, February 10th. Finally, Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of HudBay Minerals in a research note on Tuesday, April 21st. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $27.33.

HudBay Minerals Stock Performance

HudBay Minerals stock opened at $24.76 on Friday. HudBay Minerals Inc has a 52 week low of $8.31 and a 52 week high of $28.74. The company has a current ratio of 1.36, a quick ratio of 1.20 and a debt-to-equity ratio of 0.14. The stock has a market cap of $9.83 billion, a P/E ratio of 14.91, a price-to-earnings-growth ratio of 0.28 and a beta of 1.37. The stock has a 50 day moving average of $22.93 and a 200-day moving average of $21.74.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last posted its quarterly earnings results on Friday, May 1st. The mining company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.06. HudBay Minerals had a net margin of 27.75% and a return on equity of 10.04%. The firm had revenue of $757.30 million for the quarter, compared to analysts’ expectations of $684.73 million. During the same period in the prior year, the company posted $0.24 earnings per share. The firm’s quarterly revenue was up 27.3% on a year-over-year basis. On average, analysts expect that HudBay Minerals Inc will post 1.65 EPS for the current fiscal year.

HudBay Minerals Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Tuesday, June 9th will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend is Tuesday, June 9th. HudBay Minerals’s dividend payout ratio is currently 0.60%.

HudBay Minerals Company 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.