Advisors Asset Management Inc. Has $203,000 Holdings in HudBay Minerals Inc $HBM

Advisors Asset Management Inc. lowered its stake in HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) by 49.8% in the first quarter, Holdings Channel.com reports. The institutional investor owned 26,771 shares of the mining company’s stock after selling 26,607 shares during the quarter. Advisors Asset Management Inc.’s holdings in HudBay Minerals were worth $203,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Tower Research Capital LLC TRC lifted its position in shares of HudBay Minerals by 9,877.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,093 shares of the mining company’s stock worth $25,000 after buying an additional 3,062 shares during the last quarter. SBI Securities Co. Ltd. boosted its stake in HudBay Minerals by 64.6% during the 1st quarter. SBI Securities Co. Ltd. now owns 3,773 shares of the mining company’s stock valued at $29,000 after purchasing an additional 1,481 shares during the period. Banque Cantonale Vaudoise bought a new stake in HudBay Minerals during the 1st quarter valued at approximately $33,000. Headlands Technologies LLC bought a new stake in HudBay Minerals during the 1st quarter valued at approximately $92,000. Finally, Virtu Financial LLC bought a new stake in HudBay Minerals during the 1st quarter valued at approximately $142,000. Institutional investors and hedge funds own 57.82% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Veritas upgraded HudBay Minerals to a “strong-buy” rating in a research note on Monday, July 7th. The Goldman Sachs Group initiated coverage on HudBay Minerals in a research note on Monday. They set a “buy” rating on the stock. Raymond James Financial upgraded HudBay Minerals to a “moderate buy” rating in a research note on Monday, June 30th. Wall Street Zen upgraded HudBay Minerals from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. Finally, National Bankshares restated an “outperform” rating on shares of HudBay Minerals in a research note on Thursday, August 14th. Two equities research analysts have rated the stock with a Strong Buy rating and seven have given a Buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy”.

HudBay Minerals Trading Up 0.8%

Shares of HBM stock opened at $13.57 on Friday. HudBay Minerals Inc has a 12-month low of $5.95 and a 12-month high of $13.64. The company has a market capitalization of $5.37 billion, a P/E ratio of 18.59, a P/E/G ratio of 0.33 and a beta of 1.51. The firm has a 50-day moving average price of $10.82 and a 200 day moving average price of $9.09. The company has a quick ratio of 0.86, a current ratio of 1.03 and a debt-to-equity ratio of 0.20.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last announced its quarterly earnings results on Wednesday, August 13th. The mining company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.08. HudBay Minerals had a net margin of 13.13% and a return on equity of 10.73%. The firm had revenue of $536.40 million during the quarter, compared to the consensus estimate of $558.21 million. The firm’s quarterly revenue was up 26.1% compared to the same quarter last year. Research analysts forecast that HudBay Minerals Inc will post 0.79 earnings per share for the current fiscal year.

HudBay Minerals Increases Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Friday, September 19th. Investors of record on Tuesday, September 2nd will be given a dividend of $0.0073 per share. This is a boost from HudBay Minerals’s previous semi-annual dividend of $0.01. The ex-dividend date is Tuesday, September 2nd. This represents a yield of 17.0%. HudBay Minerals’s dividend payout ratio is currently 1.37%.

About HudBay Minerals

Hudbay Minerals Inc, a diversified mining company, focuses on the exploration, development, operation, and optimization of properties in North and South America. It produces copper concentrates containing gold, silver, and molybdenum; gold concentrates containing zinc; zinc concentrates; molybdenum concentrates; and silver/gold doré.