Triasima Portfolio Management inc. Buys 23,556 Shares of HudBay Minerals Inc $HBM

Triasima Portfolio Management inc. lifted its stake in HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) by 4.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 587,103 shares of the mining company’s stock after acquiring an additional 23,556 shares during the quarter. HudBay Minerals accounts for 2.0% of Triasima Portfolio Management inc.’s investment portfolio, making the stock its 10th largest position. Triasima Portfolio Management inc. owned 0.13% of HudBay Minerals worth $15,731,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently made changes to their positions in HBM. GK Wealth Management LLC acquired a new position in HudBay Minerals during the third quarter worth $87,000. Acasta Partners UK LLP boosted its position in shares of HudBay Minerals by 75.7% during the third quarter. Acasta Partners UK LLP now owns 197,352 shares of the mining company’s stock worth $5,270,000 after buying an additional 85,000 shares during the period. Bullseye Investment Management LLC purchased a new position in shares of HudBay Minerals during the second quarter worth $30,000. Integrated Wealth Concepts LLC purchased a new position in shares of HudBay Minerals during the second quarter worth $36,000. Finally, NewEdge Advisors LLC grew its stake in shares of HudBay Minerals by 39.9% in the second quarter. NewEdge Advisors LLC now owns 38,471 shares of the mining company’s stock valued at $908,000 after buying an additional 10,969 shares in the last quarter. Hedge funds and other institutional investors own 57.82% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on HBM shares. Jefferies Financial Group reiterated a “buy” rating on shares of HudBay Minerals in a report on Monday, July 6th. Bank of America decreased their target price on HudBay Minerals from $33.50 to $29.50 and set a “buy” rating on the stock in a research note on Thursday, July 9th. Citigroup restated a “positive” rating on shares of HudBay Minerals in a report on Wednesday, July 15th. Barclays reaffirmed an “overweight” rating on shares of HudBay Minerals in a research report on Tuesday, October 6th. Finally, Weiss Ratings raised HudBay Minerals from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. Ten research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, HudBay Minerals presently has a consensus rating of “Moderate Buy” and an average price target of $31.33.

HudBay Minerals Price Performance

Shares of HBM opened at $24.22 on Friday. HudBay Minerals Inc has a fifty-two week low of $14.34 and a fifty-two week high of $32.15. The firm’s 50 day moving average price is $27.19 and its 200 day moving average price is $25.38. The company has a market cap of $10.76 billion, a P/E ratio of 14.25, a PEG ratio of 0.43 and a beta of 1.58. The company has a quick ratio of 1.93, a current ratio of 2.24 and a debt-to-equity ratio of 0.17.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last released its earnings results on Wednesday, July 29th. The mining company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.02. HudBay Minerals had a net margin of 27.48% and a return on equity of 9.47%. The company had revenue of $631.30 million for the quarter, compared to analyst estimates of $632.43 million. During the same period in the prior year, the business earned $0.19 EPS. The firm’s quarterly revenue was up 17.7% on a year-over-year basis. On average, research analysts forecast that HudBay Minerals Inc will post 1.43 earnings per share for the current fiscal year.

HudBay Minerals Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Tuesday, September 8th were given a dividend of C$0.01 per share. The ex-dividend date of this dividend was Tuesday, September 8th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.2%. HudBay Minerals’s dividend payout ratio is currently 1.18%.

HudBay Minerals Company Profile

Hudbay Minerals Inc is a Canadian mining company focused primarily on the exploration, development, and operation of copper, zinc, gold, silver, and molybdenum deposits. The company’s products are used in infrastructure, manufacturing, technology, and energy-related applications. Hudbay is listed on the New York Stock Exchange and the Toronto Stock Exchange under the symbol HBM.

Hudbay operates mining and processing assets in Canada and Peru. Its Manitoba operations include the Lalor polymetallic mine and processing facilities in the Snow Lake region, which produce zinc, copper, gold, and silver.