Oliver Luxxe Assets LLC Has $2.04 Million Stake in HudBay Minerals Inc $HBM

Oliver Luxxe Assets LLC lowered its position in shares of HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) by 38.0% during the second quarter, HoldingsChannel reports. The fund owned 86,451 shares of the mining company’s stock after selling 52,898 shares during the quarter. Oliver Luxxe Assets LLC’s holdings in HudBay Minerals were worth $2,041,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. First Trust Advisors LP raised its holdings in HudBay Minerals by 35.3% in the 1st quarter. First Trust Advisors LP now owns 229,948 shares of the mining company’s stock valued at $4,814,000 after buying an additional 60,025 shares during the last quarter. Artemis Investment Management LLP boosted its position in HudBay Minerals by 15.6% during the 4th quarter. Artemis Investment Management LLP now owns 5,709,453 shares of the mining company’s stock worth $113,355,000 after buying an additional 770,172 shares during the period. Goehring & Rozencwajg Associates LLC grew its holdings in HudBay Minerals by 6.6% during the 4th quarter. Goehring & Rozencwajg Associates LLC now owns 824,951 shares of the mining company’s stock worth $16,380,000 after acquiring an additional 51,387 shares during the last quarter. Maxi Investments CY Ltd bought a new stake in HudBay Minerals during the 4th quarter worth approximately $993,000. Finally, Norges Bank acquired a new position in HudBay Minerals in the 4th quarter valued at approximately $105,315,000. Institutional investors and hedge funds own 57.82% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Barclays raised their price target on shares of HudBay Minerals from $30.00 to $32.00 and gave the company an “overweight” rating in a research note on Wednesday, July 15th. Weiss Ratings upgraded HudBay Minerals from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, June 29th. Jefferies Financial Group reaffirmed a “buy” rating on shares of HudBay Minerals in a research report on Monday, July 6th. Wall Street Zen downgraded HudBay Minerals from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Finally, Bank of America cut their target price on HudBay Minerals from $33.50 to $29.50 and set a “buy” rating on the stock in a report on Thursday, July 9th. Eleven investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, HudBay Minerals has an average rating of “Moderate Buy” and an average price target of $31.33.

HudBay Minerals Trading Up 4.9%

NYSE HBM opened at $27.59 on Friday. The business has a 50 day simple moving average of $24.51 and a 200 day simple moving average of $24.24. HudBay Minerals Inc has a one year low of $9.29 and a one year high of $32.15. The stock has a market capitalization of $12.26 billion, a P/E ratio of 16.23, a P/E/G ratio of 0.42 and a beta of 1.48. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.24 and a quick ratio of 1.93.

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

HudBay Minerals Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Tuesday, September 8th will be paid a $0.01 dividend. The ex-dividend date is Tuesday, September 8th. This represents a $0.04 annualized dividend and a dividend yield of 0.1%. HudBay Minerals’s payout ratio is currently 1.76%.

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.