Counterpoint Mutual Funds LLC Acquires New Stake in HudBay Minerals Inc $HBM

by · The Markets Daily

Counterpoint Mutual Funds LLC acquired a new stake in shares of HudBay Minerals Inc (NYSE:HBM – Free Report) (TSE:HBM) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 29,365 shares of the mining company’s stock, valued at approximately $614,000.

Several other hedge funds also recently bought and sold shares of HBM. Waterfront Wealth Inc. lifted its stake in HudBay Minerals by 1.0% in the fourth quarter. Waterfront Wealth Inc. now owns 39,451 shares of the mining company’s stock worth $783,000 after acquiring an additional 399 shares during the period. Strong Tower Advisory Services increased its position in HudBay Minerals by 0.6% during the 4th quarter. Strong Tower Advisory Services now owns 94,762 shares of the mining company’s stock valued at $1,881,000 after purchasing an additional 587 shares during the period. Vontobel Holding Ltd. increased its position in HudBay Minerals by 0.6% during the 4th 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 period. Rockefeller Capital Management L.P. raised its holdings in shares of HudBay Minerals by 25.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 4,933 shares of the mining company’s stock valued at $98,000 after purchasing an additional 986 shares in the last quarter. Finally, Allworth Financial LP raised its holdings in shares of HudBay Minerals by 107.9% in the 3rd quarter. Allworth Financial LP now owns 1,990 shares of the mining company’s stock valued at $30,000 after purchasing an additional 1,033 shares in the last quarter. Institutional investors own 57.82% of the company’s stock.

HudBay Minerals Stock Performance

HBM stock opened at $22.57 on Friday. HudBay Minerals Inc has a one year low of $8.93 and a one year high of $32.15. The firm has a market cap of $10.03 billion, a price-to-earnings ratio of 13.60, a PEG ratio of 0.26 and a beta of 1.48. 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 50-day simple moving average of $25.69 and a two-hundred day simple moving average of $23.86.

HudBay Minerals (NYSE:HBM – Get Free Report) (TSE:HBM) last issued its quarterly earnings data on Friday, May 1st. The mining company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.06. The firm had revenue of $757.30 million for the quarter, compared to the consensus estimate of $684.73 million. HudBay Minerals had a net margin of 27.75% and a return on equity of 10.04%. The company’s quarterly revenue was up 27.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.24 EPS. On average, equities analysts forecast that HudBay Minerals Inc will post 1.65 EPS for the current fiscal year.

HudBay Minerals Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Tuesday, June 9th were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend was Tuesday, June 9th. HudBay Minerals’s payout ratio is currently 1.20%.

Wall Street Analyst Weigh In

HBM has been the subject of several research reports. Barclays started coverage on shares of HudBay Minerals in a research report on Thursday, May 21st. They issued an “overweight” rating and a $30.00 price target for the company. Wall Street Zen raised shares of HudBay Minerals from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of HudBay Minerals in a report on Tuesday, April 21st. Scotiabank restated an “outperform” rating on shares of HudBay Minerals in a report on Thursday, June 25th. Finally, Weiss Ratings raised HudBay Minerals from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $27.33.

Read Our Latest Stock Analysis on HBM

HudBay Minerals Company Profile

(Free Report)

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.

See Also

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