HudBay Minerals Inc $HBM is Mudita Advisors LLP’s 8th Largest Position

Mudita Advisors LLP lowered its stake in shares of HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) by 31.9% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 924,505 shares of the mining company’s stock after selling 432,600 shares during the quarter. HudBay Minerals accounts for 4.1% of Mudita Advisors LLP’s holdings, making the stock its 8th largest position. Mudita Advisors LLP’s holdings in HudBay Minerals were worth $14,014,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of HBM. Global Retirement Partners LLC bought a new position in shares of HudBay Minerals during the third quarter worth $45,000. Banque Cantonale Vaudoise lifted its stake in HudBay Minerals by 513.5% in the 3rd quarter. Banque Cantonale Vaudoise now owns 3,172 shares of the mining company’s stock worth $48,000 after purchasing an additional 2,655 shares in the last quarter. Jones Financial Companies Lllp boosted its holdings in shares of HudBay Minerals by 131.6% during the 1st 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 last quarter. Quadrant Capital Group LLC purchased a new position in shares of HudBay Minerals during the third quarter valued at about $123,000. Finally, Verus Capital Partners LLC purchased a new stake in shares of HudBay Minerals in the third quarter worth about $152,000. Hedge funds and other institutional investors own 57.82% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Raymond James Financial restated an “outperform” rating on shares of HudBay Minerals in a report on Wednesday, January 14th. Citigroup upped their price objective on HudBay Minerals from $23.00 to $32.50 and gave the stock a “buy” rating in a report on Wednesday, February 11th. National Bank Financial lowered shares of HudBay Minerals from an “outperform” rating to a “sector perform” rating in a report on Wednesday, January 28th. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of HudBay Minerals in a research report on Thursday, January 15th. Finally, Weiss Ratings raised shares of HudBay Minerals from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, February 10th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, HudBay Minerals currently has an average rating of “Buy” and a consensus target price of $26.00.

HudBay Minerals Trading Down 2.9%

HBM stock traded down $0.64 during midday trading on Friday, reaching $21.21. 569,734 shares of the company traded hands, compared to its average volume of 6,391,650. The firm has a market capitalization of $8.42 billion, a price-to-earnings ratio of 14.81, a P/E/G ratio of 0.31 and a beta of 1.27. HudBay Minerals Inc has a 52-week low of $5.95 and a 52-week high of $28.74. The business has a 50 day moving average of $24.37 and a 200-day moving average of $18.84. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.78 and a current ratio of 0.95.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last announced its earnings results on Friday, February 20th. The mining company reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.18). The company had revenue of $732.90 million during the quarter, compared to analysts’ expectations of $730.13 million. HudBay Minerals had a return on equity of 8.91% and a net margin of 25.71%.HudBay Minerals’s revenue for the quarter was up 25.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.18 EPS. As a group, sell-side analysts expect that HudBay Minerals Inc will post 0.79 earnings per share for the current fiscal year.

HudBay Minerals Announces Dividend

The company also recently disclosed a dividend, which will be paid on Friday, March 27th. Shareholders of record on Tuesday, March 10th will be paid a dividend of $0.01 per share. This represents a yield of 9.0%. The ex-dividend date of this dividend is Tuesday, March 10th. HudBay Minerals’s payout ratio is presently 0.70%.

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.