Alpha Paradigm Partners LLC Makes New $243,000 Investment in Hudbay Minerals Inc. (NYSE:HBM)

Alpha Paradigm Partners LLC acquired a new position in shares of Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 36,445 shares of the mining company’s stock, valued at approximately $243,000.

A number of other institutional investors have also recently made changes to their positions in HBM. Keebeck Alpha LP acquired a new stake in shares of Hudbay Minerals in the 2nd quarter valued at approximately $84,000. Vident Investment Advisory LLC boosted its stake in shares of Hudbay Minerals by 22.0% in the 1st quarter. Vident Investment Advisory LLC now owns 12,635 shares of the mining company’s stock valued at $87,000 after purchasing an additional 2,281 shares in the last quarter. BlackRock Inc. acquired a new stake in shares of Hudbay Minerals in the 1st quarter valued at approximately $91,000. Van ECK Associates Corp boosted its stake in shares of Hudbay Minerals by 268.0% in the 1st quarter. Van ECK Associates Corp now owns 17,847 shares of the mining company’s stock valued at $122,000 after purchasing an additional 12,997 shares in the last quarter. Finally, Blueshift Asset Management LLC acquired a new stake in shares of Hudbay Minerals in the 2nd quarter valued at approximately $173,000. Hedge funds and other institutional investors own 65.50% of the company’s stock.

A number of equities research analysts have recently weighed in on HBM shares. Credit Suisse Group reduced their price target on shares of Hudbay Minerals from C$13.00 to C$11.50 and set an “outperform” rating on the stock in a research note on Wednesday, August 25th. Zacks Investment Research downgraded shares of Hudbay Minerals from a “hold” rating to a “sell” rating in a research report on Tuesday. National Bank Financial upgraded shares of Hudbay Minerals from a “sector perform” rating to an “outperform” rating and cut their target price for the stock from $14.00 to $12.50 in a research report on Friday, September 10th. Indl Alliance S reiterated a “buy” rating on shares of Hudbay Minerals in a research report on Thursday, September 23rd. Finally, Canaccord Genuity lifted their target price on shares of Hudbay Minerals from C$12.00 to C$13.00 and gave the stock a “buy” rating in a research report on Thursday, July 15th. One research analyst has rated the stock with a sell rating, one has given a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, Hudbay Minerals currently has an average rating of “Buy” and an average target price of $12.20.

Hudbay Minerals stock opened at $7.00 on Thursday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.15 and a current ratio of 1.50. Hudbay Minerals Inc. has a 52-week low of $4.33 and a 52-week high of $9.60. The firm has a 50 day moving average price of $6.14 and a two-hundred day moving average price of $6.87. The firm has a market cap of $1.83 billion, a price-to-earnings ratio of -23.33, a PEG ratio of 1.55 and a beta of 2.40.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last released its quarterly earnings results on Monday, August 9th. The mining company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.07). Hudbay Minerals had a negative return on equity of 3.13% and a negative net margin of 5.90%. The firm had revenue of $404.24 million for the quarter, compared to the consensus estimate of $416.66 million. During the same quarter in the previous year, the business posted ($0.15) EPS. The firm’s revenue for the quarter was up 93.5% compared to the same quarter last year. As a group, equities research analysts predict that Hudbay Minerals Inc. will post 0.18 EPS for the current fiscal year.

The business also recently disclosed a semi-annual dividend, which was paid on Friday, September 24th. Stockholders of record on Friday, September 3rd were paid a $0.0079 dividend. The ex-dividend date of this dividend was Thursday, September 2nd. This represents a dividend yield of 0.2%. Hudbay Minerals’s dividend payout ratio is currently -4.35%.

Hudbay Minerals Company Profile

HudBay Minerals, Inc operates as a mining company. The firm engages in the production of copper concentrate, molybdenum concentrate and zinc metal. It focuses on the discovery, production and marketing of base and precious metals. The company was founded on January 16, 1996 and is headquartered in Toronto, Canada.

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Institutional Ownership by Quarter for Hudbay Minerals (NYSE:HBM)

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