Empowered Funds LLC Purchases Shares of 53,788 HudBay Minerals Inc $HBM

Empowered Funds LLC acquired a new position in shares of HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 53,788 shares of the mining company’s stock, valued at approximately $1,270,000.

Several other large investors have also recently added to or reduced their stakes in the business. Quantinno Capital Management LP raised its stake in shares of HudBay Minerals by 6.0% in the 1st quarter. Quantinno Capital Management LP now owns 11,597 shares of the mining company’s stock valued at $242,000 after acquiring an additional 657 shares during the period. Vontobel Holding Ltd. increased its stake in HudBay Minerals by 0.6% during the fourth quarter. Vontobel Holding Ltd. now owns 126,090 shares of the mining company’s stock valued at $2,503,000 after purchasing an additional 738 shares during the last quarter. Rockefeller Capital Management L.P. grew its position in shares of HudBay Minerals by 25.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 4,933 shares of the mining company’s stock valued at $98,000 after buying an additional 986 shares during the last quarter. Wealthcare Advisory Partners LLC raised its position in shares of HudBay Minerals by 2.7% during the 2nd quarter. Wealthcare Advisory Partners LLC now owns 37,766 shares of the mining company’s stock worth $892,000 after purchasing an additional 992 shares during the period. Finally, Allworth Financial LP grew its position in HudBay Minerals by 107.9% in the 3rd quarter. Allworth Financial LP now owns 1,990 shares of the mining company’s stock worth $30,000 after purchasing an additional 1,033 shares during the last quarter. 57.82% of the stock is currently owned by hedge funds and other institutional investors.

HudBay Minerals Stock Performance

Shares of NYSE:HBM opened at $27.45 on Friday. HudBay Minerals Inc has a 1-year low of $12.53 and a 1-year high of $32.15. The stock has a market capitalization of $12.19 billion, a P/E ratio of 16.15, a P/E/G ratio of 0.42 and a beta of 1.54. The company has a current ratio of 2.24, a quick ratio of 1.93 and a debt-to-equity ratio of 0.17. The business has a 50-day moving average price of $24.93 and a two-hundred day moving average price of $24.66.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last issued its 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 company had revenue of $631.30 million during the quarter, compared to analysts’ expectations 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 previous year, the company posted $0.19 EPS. Equities analysts predict that HudBay Minerals Inc will post 1.59 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. Investors of record on Tuesday, September 8th will be given a $0.01 dividend. The ex-dividend date is Tuesday, September 8th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.1%. HudBay Minerals’s dividend payout ratio is currently 1.76%.

Analyst Ratings Changes

Several analysts recently commented on HBM shares. Wall Street Zen lowered shares of HudBay Minerals from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Weiss Ratings cut HudBay Minerals from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, August 13th. Bank of America lowered their price target on HudBay Minerals from $33.50 to $29.50 and set a “buy” rating on the stock in a report on Thursday, July 9th. Barclays increased their price objective on HudBay Minerals from $30.00 to $32.00 and gave the company an “overweight” rating in a research report on Wednesday, July 15th. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of HudBay Minerals in a report on Monday, July 6th. Eleven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $31.33.

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.