Dimensional Fund Advisors LP Trims Stake in HudBay Minerals Inc $HBM

Dimensional Fund Advisors LP lowered its holdings in shares of HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) by 12.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,700,999 shares of the mining company’s stock after selling 1,429,804 shares during the quarter. Dimensional Fund Advisors LP’s holdings in HudBay Minerals were worth $202,685,000 as of its most recent SEC filing.

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

HudBay Minerals Trading Down 1.2%

HBM opened at $22.36 on Friday. The firm has a market cap of $9.93 billion, a price-to-earnings ratio of 13.47, a PEG ratio of 0.34 and a beta of 1.48. The company has a current ratio of 1.36, a quick ratio of 1.20 and a debt-to-equity ratio of 0.14. HudBay Minerals Inc has a 12 month low of $8.93 and a 12 month high of $32.15. The stock has a fifty day moving average price of $24.86 and a 200-day moving average price of $24.10.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last released its quarterly earnings results on Friday, May 1st. The mining company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.34 by $0.06. The business had revenue of $757.30 million during the quarter, compared to analyst estimates of $684.73 million. HudBay Minerals had a net margin of 27.75% and a return on equity of 10.04%. The company’s quarterly revenue was up 27.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.24 earnings per share. As a group, equities research analysts anticipate that HudBay Minerals Inc will post 1.6 earnings per share for the current fiscal year.

HudBay Minerals Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Tuesday, June 9th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Tuesday, June 9th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.2%. HudBay Minerals’s dividend payout ratio is presently 1.81%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on HBM. Citigroup reaffirmed a “positive” rating on shares of HudBay Minerals in a research report on Wednesday, July 15th. Wall Street Zen raised HudBay Minerals from a “hold” rating to a “buy” rating in a research note on Monday, July 20th. Weiss Ratings upgraded HudBay Minerals from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, June 29th. Bank of America decreased their target price on HudBay Minerals from $33.50 to $29.50 and set a “buy” rating for the company 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 report on Tuesday, April 21st. Eleven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, HudBay Minerals presently has a consensus rating of “Moderate Buy” and a consensus price target of $31.33.

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.