Louisbourg Investments Inc. Purchases New Shares in HudBay Minerals Inc $HBM

Louisbourg Investments Inc. acquired a new stake in HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) in the fourth quarter, Holdings Channel reports. The institutional investor acquired 263,900 shares of the mining company’s stock, valued at approximately $5,247,000.

A number of other large investors have also modified their holdings of HBM. Allworth Financial LP grew its position in shares of HudBay Minerals by 107.9% during the 3rd 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 during the period. Quarry LP purchased a new position in shares of HudBay Minerals in the 3rd quarter valued at about $38,000. Global Retirement Partners LLC acquired a new position in HudBay Minerals in the 3rd quarter worth about $45,000. IFP Advisors Inc acquired a new position in HudBay Minerals in the 3rd quarter worth about $45,000. Finally, Banque Cantonale Vaudoise boosted its position in HudBay Minerals by 513.5% during 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 in the last quarter. Institutional investors and hedge funds own 57.82% of the company’s stock.

HudBay Minerals Trading Down 1.7%

HBM stock opened at $21.62 on Friday. HudBay Minerals Inc has a 12-month low of $5.95 and a 12-month high of $28.74. The business’s 50-day moving average is $23.65 and its 200 day moving average is $19.62. The company has a current ratio of 0.95, a quick ratio of 0.78 and a debt-to-equity ratio of 0.18. The stock has a market cap of $8.58 billion, a price-to-earnings ratio of 15.12, a PEG ratio of 0.30 and a beta of 1.41.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last announced its earnings results on Friday, February 20th. The mining company reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.18). The firm had revenue of $732.90 million for the quarter, compared to analyst estimates of $730.13 million. HudBay Minerals had a net margin of 25.71% and a return on equity of 8.91%. HudBay Minerals’s revenue was up 25.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.18 EPS. On average, sell-side analysts anticipate that HudBay Minerals Inc will post 0.79 EPS for the current fiscal year.

HudBay Minerals Announces Dividend

The company also recently disclosed a dividend, which was paid on Friday, March 27th. Investors of record on Tuesday, March 10th were paid a $0.01 dividend. This represents a yield of 9.0%. The ex-dividend date of this dividend was Tuesday, March 10th. HudBay Minerals’s dividend payout ratio is currently 0.70%.

Analysts Set New Price Targets

Several analysts have commented on HBM shares. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of HudBay Minerals in a report on Thursday, January 15th. Zacks Research downgraded HudBay Minerals from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 17th. Wall Street Zen lowered HudBay Minerals from a “buy” rating to a “hold” rating in a research report on Sunday, March 1st. Weiss Ratings raised shares of HudBay Minerals from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, February 10th. Finally, Raymond James Financial reissued an “outperform” rating on shares of HudBay Minerals in a report on Wednesday, January 14th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $26.00.

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.