HudBay Minerals Inc $HBM Stake Reduced by Mountaineer Partners Management LLC

Mountaineer Partners Management LLC reduced its position in shares of HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) by 17.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 787,247 shares of the mining company’s stock after selling 168,172 shares during the quarter. HudBay Minerals comprises about 8.7% of Mountaineer Partners Management LLC’s portfolio, making the stock its 2nd biggest position. Mountaineer Partners Management LLC’s holdings in HudBay Minerals were worth $15,627,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Waterfront Wealth Inc. increased its holdings in HudBay Minerals by 1.0% during the 4th quarter. Waterfront Wealth Inc. now owns 39,451 shares of the mining company’s stock worth $783,000 after purchasing an additional 399 shares during the period. Strong Tower Advisory Services increased its holdings in HudBay Minerals by 0.6% during the 4th quarter. Strong Tower Advisory Services now owns 94,762 shares of the mining company’s stock worth $1,881,000 after purchasing an additional 587 shares during the period. Vontobel Holding Ltd. increased its holdings in HudBay Minerals by 0.6% during the 4th quarter. Vontobel Holding Ltd. now owns 126,090 shares of the mining company’s stock worth $2,503,000 after purchasing an additional 738 shares during the period. Allworth Financial LP increased its holdings in HudBay Minerals by 107.9% during the 3rd quarter. Allworth Financial LP now owns 1,990 shares of the mining company’s stock worth $30,000 after purchasing an additional 1,033 shares during the period. Finally, Creative Planning increased its holdings in HudBay Minerals by 5.4% during the 2nd quarter. Creative Planning now owns 25,067 shares of the mining company’s stock worth $266,000 after purchasing an additional 1,289 shares during the period. 57.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have commented on the company. Wall Street Zen upgraded HudBay Minerals from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Barclays assumed coverage on HudBay Minerals in a report on Thursday, May 21st. They set an “overweight” rating and a $30.00 price objective on the stock. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of HudBay Minerals in a report on Tuesday, April 21st. Weiss Ratings downgraded HudBay Minerals from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, June 8th. Finally, Zacks Research downgraded HudBay Minerals from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 17th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, HudBay Minerals currently has a consensus rating of “Buy” and an average price target of $27.33.

HudBay Minerals Price Performance

NYSE HBM opened at $27.79 on Monday. HudBay Minerals Inc has a 12-month low of $8.93 and a 12-month high of $32.15. The firm’s fifty day simple moving average is $25.26 and its two-hundred day simple moving average is $23.06. The company has a current ratio of 1.36, a quick ratio of 1.20 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $11.04 billion, a P/E ratio of 16.74, a P/E/G ratio of 0.32 and a beta of 1.43.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last announced its earnings results on Friday, May 1st. The mining company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.06. HudBay Minerals had a return on equity of 10.04% and a net margin of 27.75%.The firm had revenue of $757.30 million for the quarter, compared to the consensus estimate of $684.73 million. During the same period in the previous year, the business earned $0.24 EPS. The firm’s revenue for the quarter was up 27.3% on a year-over-year basis. Analysts forecast that HudBay Minerals Inc will post 1.66 EPS for the current fiscal year.

HudBay Minerals Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Tuesday, June 9th will be given a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.1%. The ex-dividend date of this dividend is Tuesday, June 9th. HudBay Minerals’s dividend payout ratio (DPR) is presently 1.81%.

About HudBay Minerals

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.