Susquehanna Fundamental Investments LLC Cuts Position in HudBay Minerals Inc $HBM

Susquehanna Fundamental Investments LLC lowered its holdings in HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) by 62.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 157,400 shares of the mining company’s stock after selling 265,200 shares during the quarter. Susquehanna Fundamental Investments LLC’s holdings in HudBay Minerals were worth $3,716,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. FIL Ltd increased its holdings in HudBay Minerals by 202.0% in the fourth quarter. FIL Ltd now owns 33,143,172 shares of the mining company’s stock valued at $658,010,000 after buying an additional 22,169,339 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in shares of HudBay Minerals during the 3rd quarter worth approximately $123,736,000. Wellington Management Group LLP purchased a new stake in HudBay Minerals during the second quarter worth $130,557,000. Mackenzie Financial Corp boosted its position in HudBay Minerals by 116.1% during the fourth quarter. Mackenzie Financial Corp now owns 10,178,626 shares of the mining company’s stock worth $202,327,000 after purchasing an additional 5,468,109 shares in the last quarter. Finally, Norges Bank acquired a new stake in HudBay Minerals in the fourth quarter valued at $105,315,000. Hedge funds and other institutional investors own 57.82% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on HBM. Jefferies Financial Group reaffirmed a “buy” rating on shares of HudBay Minerals in a research note on Monday, July 6th. Wall Street Zen cut shares of HudBay Minerals from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Weiss Ratings cut shares of HudBay Minerals from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, August 13th. Citigroup reaffirmed a “positive” rating on shares of HudBay Minerals in a report on Wednesday, July 15th. Finally, Barclays increased their price target on shares of HudBay Minerals from $30.00 to $32.00 and gave the company an “overweight” rating in a research report on Wednesday, July 15th. Eleven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $31.33.

HudBay Minerals Price Performance

HudBay Minerals stock opened at $28.56 on Tuesday. The firm’s 50-day moving average is $24.64 and its two-hundred day moving average is $24.61. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.24 and a quick ratio of 1.93. The stock has a market capitalization of $12.68 billion, a P/E ratio of 16.80, a P/E/G ratio of 0.45 and a beta of 1.48. HudBay Minerals Inc has a 12-month low of $11.62 and a 12-month high of $32.15.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last announced its earnings results on Wednesday, July 29th. The mining company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.02. HudBay Minerals had a net margin of 27.48% and a return on equity of 9.47%. The firm had revenue of $631.30 million for the quarter, compared to analyst estimates of $632.43 million. During the same quarter last year, the business earned $0.19 earnings per share. HudBay Minerals’s revenue was up 17.7% compared to the same quarter last year. Equities analysts predict that HudBay Minerals Inc will post 1.58 earnings per share for the current year.

HudBay Minerals Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Tuesday, September 8th will be paid a dividend of $0.01 per share. The ex-dividend date of this dividend is Tuesday, September 8th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.1%. HudBay Minerals’s dividend payout ratio is currently 1.76%.

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.