Teachers Retirement System of The State of Kentucky Acquires Shares of 220,340 HudBay Minerals Inc $HBM

Teachers Retirement System of The State of Kentucky bought a new position in shares of HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 220,340 shares of the mining company’s stock, valued at approximately $4,605,000. Teachers Retirement System of The State of Kentucky owned about 0.06% of HudBay Minerals as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Allworth Financial LP lifted its stake 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 buying an additional 1,033 shares in the last quarter. Quarry LP purchased a new stake in HudBay Minerals during the 3rd quarter valued at about $38,000. IFP Advisors Inc purchased a new stake in HudBay Minerals during the 3rd quarter valued at about $45,000. Banque Cantonale Vaudoise grew its stake in 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 acquiring an additional 2,655 shares in the last quarter. Finally, Kestra Advisory Services LLC acquired a new stake in HudBay Minerals in the 4th quarter valued at about $71,000. Hedge funds and other institutional investors own 57.82% of the company’s stock.

HudBay Minerals Trading Up 7.7%

Shares of HudBay Minerals stock opened at $22.48 on Wednesday. The stock has a 50 day moving average of $25.46 and a 200 day moving average of $24.01. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.20 and a current ratio of 1.36. The firm has a market capitalization of $9.98 billion, a price-to-earnings ratio of 13.54, a PEG ratio of 0.31 and a beta of 1.48. HudBay Minerals Inc has a fifty-two week low of $8.93 and a fifty-two week high of $32.15.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last posted its earnings results on Friday, May 1st. The mining company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.06. HudBay Minerals had a return on equity of 10.04% and a net margin of 27.75%.The company had revenue of $757.30 million for the quarter, compared to the consensus estimate of $684.73 million. During the same quarter in the previous year, the business earned $0.24 earnings per share. The company’s revenue for the quarter was up 27.3% on a year-over-year basis. As a group, research analysts predict that HudBay Minerals Inc will post 1.61 earnings per share for the current year.

HudBay Minerals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Tuesday, June 9th were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend was Tuesday, June 9th. HudBay Minerals’s dividend payout ratio (DPR) is presently 1.81%.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Weiss Ratings raised shares of HudBay Minerals from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, June 29th. Scotiabank restated an “outperform” rating on shares of HudBay Minerals in a research report on Thursday, June 25th. Jefferies Financial Group reaffirmed a “buy” rating on shares of HudBay Minerals in a report on Monday, July 6th. Wall Street Zen downgraded HudBay Minerals from a “buy” rating to a “hold” rating in a research report on Sunday. Finally, Barclays began coverage on HudBay Minerals in a research note on Thursday, May 21st. They set an “overweight” rating and a $30.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $30.67.

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.