Sumitomo Mitsui Trust Group Inc. Has $1.50 Million Position in HudBay Minerals Inc $HBM

Sumitomo Mitsui Trust Group Inc. cut its stake in HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) by 29.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 71,661 shares of the mining company’s stock after selling 30,058 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in HudBay Minerals were worth $1,498,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Affinity Wealth Management LLC acquired a new stake in HudBay Minerals in the fourth quarter worth $3,857,000. Artemis Investment Management LLP grew its holdings in shares of HudBay Minerals by 15.6% in the 4th quarter. Artemis Investment Management LLP now owns 5,709,453 shares of the mining company’s stock valued at $113,355,000 after buying an additional 770,172 shares during the period. Goehring & Rozencwajg Associates LLC increased its position in shares of HudBay Minerals by 6.6% in the 4th quarter. Goehring & Rozencwajg Associates LLC now owns 824,951 shares of the mining company’s stock valued at $16,380,000 after buying an additional 51,387 shares in the last quarter. Maxi Investments CY Ltd acquired a new stake in HudBay Minerals during the 4th quarter worth $993,000. Finally, AIA Group Ltd acquired a new stake in HudBay Minerals during the 3rd quarter worth $1,671,000. 57.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have issued reports on HBM. Wall Street Zen cut HudBay Minerals from a “buy” rating to a “hold” rating in a research note on Sunday. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of HudBay Minerals in a report on Tuesday, April 21st. Weiss Ratings upgraded shares of HudBay Minerals from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, June 29th. Bank of America cut their price target on shares of HudBay Minerals from $33.50 to $29.50 and set a “buy” rating on the stock in a research note on Thursday, July 9th. Finally, Jefferies Financial Group reissued a “buy” rating on shares of HudBay Minerals in a research report on Monday, July 6th. Eleven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $31.33.

HudBay Minerals Trading Down 2.3%

NYSE:HBM opened at $21.97 on Thursday. The company has a market cap of $9.76 billion, a P/E ratio of 13.24, a price-to-earnings-growth ratio of 0.33 and a beta of 1.48. HudBay Minerals Inc has a twelve month low of $8.93 and a twelve month high of $32.15. The business has a 50 day moving average price of $25.42 and a two-hundred day moving average price of $24.03. The company has a quick ratio of 1.20, a current ratio of 1.36 and a debt-to-equity ratio of 0.14.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last announced its quarterly earnings data on Friday, May 1st. The mining company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.06. HudBay Minerals had a net margin of 27.75% and a return on equity of 10.04%. The business had revenue of $757.30 million for the quarter, compared to analyst estimates of $684.73 million. During the same quarter in the previous year, the firm posted $0.24 earnings per share. The firm’s revenue for the quarter was up 27.3% on a year-over-year basis. As a group, analysts expect that HudBay Minerals Inc will post 1.61 EPS for the current fiscal year.

HudBay Minerals Dividend Announcement

The business 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. The ex-dividend date was Tuesday, June 9th. This represents a $0.04 annualized dividend and a dividend yield of 0.2%. HudBay Minerals’s dividend payout ratio (DPR) is presently 1.81%.

HudBay Minerals Company 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.