HudBay Minerals Inc $HBM Shares Sold by Hillsdale Investment Management Inc.

Hillsdale Investment Management Inc. lessened its position in HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) by 6.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 590,200 shares of the mining company’s stock after selling 38,400 shares during the quarter. Hillsdale Investment Management Inc. owned approximately 0.15% of HudBay Minerals worth $12,356,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of HBM. Allworth Financial LP grew its position in HudBay Minerals by 107.9% in the 3rd quarter. Allworth Financial LP now owns 1,990 shares of the mining company’s stock valued at $30,000 after acquiring an additional 1,033 shares in the last quarter. Quarry LP acquired a new stake in shares of HudBay Minerals during the third quarter worth about $38,000. IFP Advisors Inc acquired a new stake in shares of HudBay Minerals during the third quarter worth about $45,000. Banque Cantonale Vaudoise boosted its stake in shares of HudBay Minerals by 513.5% in the third quarter. Banque Cantonale Vaudoise now owns 3,172 shares of the mining company’s stock valued at $48,000 after purchasing an additional 2,655 shares during the period. Finally, Jones Financial Companies Lllp boosted its stake in shares of HudBay Minerals by 131.6% in the first quarter. Jones Financial Companies Lllp now owns 6,570 shares of the mining company’s stock valued at $50,000 after purchasing an additional 3,733 shares during the period. Institutional investors and hedge funds own 57.82% of the company’s stock.

HudBay Minerals Stock Down 3.3%

HBM stock opened at $20.92 on Tuesday. The company’s 50 day moving average price is $25.46 and its 200 day moving average price is $23.99. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.20 and a current ratio of 1.36. HudBay Minerals Inc has a fifty-two week low of $8.93 and a fifty-two week high of $32.15. The firm has a market capitalization of $9.29 billion, a price-to-earnings ratio of 12.60, a PEG ratio of 0.33 and a beta of 1.48.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last issued its earnings results on Friday, May 1st. The mining company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.06. HudBay Minerals had a net margin of 27.75% and a return on equity of 10.04%. The firm had revenue of $757.30 million for the quarter, compared to analysts’ expectations of $684.73 million. During the same quarter last year, the company earned $0.24 earnings per share. The firm’s revenue was up 27.3% compared to the same quarter last year. On average, equities research analysts anticipate that HudBay Minerals Inc will post 1.58 EPS for the current fiscal year.

HudBay Minerals Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Tuesday, June 9th were issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date was Tuesday, June 9th. HudBay Minerals’s dividend payout ratio (DPR) is presently 1.81%.

Analyst Ratings Changes

Several brokerages recently weighed in on HBM. Barclays initiated coverage on shares of HudBay Minerals in a research note on Thursday, May 21st. They set an “overweight” rating and a $30.00 target price on the stock. Jefferies Financial Group reissued a “buy” rating on shares of HudBay Minerals in a research report on Monday, July 6th. Scotiabank restated an “outperform” rating on shares of HudBay Minerals in a research note on Thursday, June 25th. Bank of America cut their price objective on HudBay Minerals from $33.50 to $29.50 and set a “buy” rating on the stock in a research report on Thursday, July 9th. Finally, Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of HudBay Minerals in a research note on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $30.67.

HudBay Minerals Profile

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.