Mackenzie Financial Corp Has $71.34 Million Stake in HudBay Minerals Inc $HBM

Mackenzie Financial Corp lowered its holdings in HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) by 7.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,710,517 shares of the mining company’s stock after selling 366,458 shares during the period. Mackenzie Financial Corp owned about 1.19% of HudBay Minerals worth $71,335,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in HBM. Quadrant Capital Group LLC bought a new stake in HudBay Minerals during the 3rd quarter worth about $123,000. Van ECK Associates Corp boosted its stake in shares of HudBay Minerals by 299.7% during the 3rd quarter. Van ECK Associates Corp now owns 1,037,209 shares of the mining company’s stock worth $15,721,000 after buying an additional 777,733 shares during the last quarter. Banque Cantonale Vaudoise boosted its stake in shares of HudBay Minerals by 513.5% during the 3rd quarter. Banque Cantonale Vaudoise now owns 3,172 shares of the mining company’s stock worth $48,000 after buying an additional 2,655 shares during the last quarter. Swiss National Bank grew its holdings in shares of HudBay Minerals by 1.6% in the 3rd quarter. Swiss National Bank now owns 772,300 shares of the mining company’s stock valued at $11,703,000 after acquiring an additional 12,400 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in shares of HudBay Minerals by 156.7% in the 3rd quarter. Russell Investments Group Ltd. now owns 471,850 shares of the mining company’s stock valued at $7,152,000 after acquiring an additional 288,064 shares in the last quarter. 57.82% of the stock is currently owned by institutional investors and hedge funds.

HudBay Minerals Stock Down 2.3%

HudBay Minerals stock opened at $22.49 on Thursday. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.95 and a quick ratio of 0.78. The company’s 50-day moving average is $24.33 and its 200-day moving average is $18.82. The firm has a market capitalization of $8.93 billion, a PE ratio of 15.73, a P/E/G ratio of 0.31 and a beta of 1.27. HudBay Minerals Inc has a fifty-two week low of $5.95 and a fifty-two week high of $28.74.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last issued its earnings results on Friday, February 20th. The mining company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.18). HudBay Minerals had a net margin of 25.71% and a return on equity of 8.91%. The firm had revenue of $732.90 million during the quarter, compared to analyst estimates of $730.13 million. During the same quarter last year, the business posted $0.18 earnings per share. The company’s revenue for the quarter was up 25.3% on a year-over-year basis. Sell-side analysts anticipate that HudBay Minerals Inc will post 0.79 earnings per share for the current year.

HudBay Minerals Announces Dividend

The firm also recently disclosed a dividend, which will be paid on Friday, March 27th. Stockholders of record on Tuesday, March 10th will be given a $0.01 dividend. This represents a dividend yield of 9.0%. The ex-dividend date of this dividend is Tuesday, March 10th. HudBay Minerals’s dividend payout ratio (DPR) is presently 0.70%.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Jefferies Financial Group reiterated a “buy” rating on shares of HudBay Minerals in a report on Sunday, December 7th. Wall Street Zen downgraded HudBay Minerals from a “buy” rating to a “hold” rating in a research note on Sunday, March 1st. Citigroup boosted their price target on HudBay Minerals from $23.00 to $32.50 and gave the stock a “buy” rating in a research report on Wednesday, February 11th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of HudBay Minerals in a research note on Thursday, January 15th. Finally, Royal Bank Of Canada reissued an “outperform” rating on shares of HudBay Minerals in a report on Monday, November 17th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $26.00.

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.