Alpha Paradigm Partners LLC Acquires New Position in Hudbay Minerals Inc. (NYSE:HBM)

Alpha Paradigm Partners LLC acquired a new stake in Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) during the second quarter, according to its most recent 13F filing with the SEC. The fund 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 bought a new stake in Hudbay Minerals in the 2nd quarter valued at about $84,000. Vident Investment Advisory LLC raised its stake in 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 acquiring an additional 2,281 shares during the period. BlackRock Inc. bought a new stake in Hudbay Minerals in the 1st quarter valued at about $91,000. Van ECK Associates Corp raised its stake in 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 acquiring an additional 12,997 shares during the period. Finally, Blueshift Asset Management LLC bought a new stake in Hudbay Minerals in the 2nd quarter valued at about $173,000. Institutional investors and hedge funds own 65.50% of the company’s stock.

A number of brokerages recently issued reports on HBM. Canaccord Genuity boosted their price objective on Hudbay Minerals from C$12.00 to C$13.00 and gave the company a “buy” rating in a research note on Thursday, July 15th. Scotiabank decreased their price target on Hudbay Minerals from C$12.00 to C$11.50 and set an “outperform” rating on the stock in a research report on Tuesday. Credit Suisse Group decreased their price target on Hudbay Minerals from C$13.00 to C$11.50 and set an “outperform” rating on the stock in a research report on Wednesday, August 25th. Zacks Investment Research cut Hudbay Minerals from a “hold” rating to a “sell” rating in a research report on Tuesday. Finally, National Bank Financial upgraded Hudbay Minerals from a “sector perform” rating to an “outperform” rating and decreased their price target for the company from $14.00 to $12.50 in a research report on Friday, September 10th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $12.20.

HBM stock opened at $7.00 on Thursday. The company has a current ratio of 1.50, a quick ratio of 1.15 and a debt-to-equity ratio of 0.73. The company’s 50 day moving average is $6.14 and its 200 day moving average is $6.87. The stock has a market cap of $1.83 billion, a price-to-earnings ratio of -23.33, a price-to-earnings-growth ratio of 1.55 and a beta of 2.40. Hudbay Minerals Inc. has a 1-year low of $4.33 and a 1-year high of $9.60.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last posted its quarterly earnings data on Monday, August 9th. The mining company reported $0.02 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.09 by ($0.07). The company had revenue of $404.24 million during the quarter, compared to the consensus estimate of $416.66 million. Hudbay Minerals had a negative return on equity of 3.13% and a negative net margin of 5.90%. The firm’s revenue for the quarter was up 93.5% on a year-over-year basis. During the same quarter last year, the company posted ($0.15) earnings per share. As a group, sell-side analysts forecast 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. Investors of record on Friday, September 3rd were given a $0.0079 dividend. This represents a dividend yield of 0.2%. The ex-dividend date was Thursday, September 2nd. Hudbay Minerals’s dividend payout ratio (DPR) is -4.35%.

Hudbay Minerals 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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