Vise Technologies Inc. Acquires Shares of 20,603 HudBay Minerals Inc $HBM

Vise Technologies Inc. bought a new position in HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 20,603 shares of the mining company’s stock, valued at approximately $486,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Allworth Financial LP increased its position in shares of HudBay Minerals by 107.9% during the third quarter. Allworth Financial LP now owns 1,990 shares of the mining company’s stock valued at $30,000 after acquiring an additional 1,033 shares in the last quarter. Quarry LP purchased a new stake in HudBay Minerals during the 3rd quarter valued at $38,000. IFP Advisors Inc bought a new stake in shares of HudBay Minerals in the 3rd quarter worth $45,000. Banque Cantonale Vaudoise raised its stake in shares of HudBay Minerals by 513.5% in the third quarter. Banque Cantonale Vaudoise now owns 3,172 shares of the mining company’s stock worth $48,000 after purchasing an additional 2,655 shares during the last quarter. Finally, Jones Financial Companies Lllp raised its stake in shares of HudBay Minerals by 131.6% in the first quarter. Jones Financial Companies Lllp now owns 6,570 shares of the mining company’s stock worth $50,000 after purchasing an additional 3,733 shares during the last quarter. Institutional investors own 57.82% of the company’s stock.

HudBay Minerals Trading Down 1.5%

HudBay Minerals stock opened at $29.60 on Tuesday. The business has a 50-day simple moving average of $24.47 and a two-hundred day simple moving average of $24.45. The company has a market cap of $13.15 billion, a P/E ratio of 17.41, a P/E/G ratio of 0.46 and a beta of 1.48. HudBay Minerals Inc has a 52-week low of $11.48 and a 52-week high of $32.15. The company has a quick ratio of 1.93, a current ratio of 2.24 and a debt-to-equity ratio of 0.17.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last released its quarterly earnings results on Wednesday, July 29th. The mining company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.26 by $0.02. The firm had revenue of $631.30 million during the quarter, compared to analyst estimates of $632.43 million. HudBay Minerals had a net margin of 27.48% and a return on equity of 9.47%. The business’s revenue for the quarter was up 17.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.19 EPS. Analysts predict that HudBay Minerals Inc will post 1.58 EPS for the current 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 issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a 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%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on HBM shares. Scotiabank reaffirmed an “outperform” rating on shares of HudBay Minerals in a report on Thursday, July 30th. Barclays boosted their target price on HudBay Minerals from $30.00 to $32.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 15th. Citigroup reaffirmed a “positive” rating on shares of HudBay Minerals in a report on Wednesday, July 15th. Bank of America reduced their price target on shares of HudBay Minerals from $33.50 to $29.50 and set a “buy” rating for the company in a research note on Thursday, July 9th. Finally, Wall Street Zen cut shares of HudBay Minerals from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Eleven equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target 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.