HudBay Minerals Inc $HBM Shares Sold by Susquehanna Fundamental Investments LLC

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

Several other institutional investors and hedge funds have also made changes to their positions in HBM. FIL Ltd lifted its stake in HudBay Minerals by 202.0% during the fourth quarter. FIL Ltd now owns 33,143,172 shares of the mining company’s stock worth $658,010,000 after purchasing an additional 22,169,339 shares during the last quarter. Invesco Ltd. raised its holdings in HudBay Minerals by 0.4% during the third quarter. Invesco Ltd. now owns 11,391,356 shares of the mining company’s stock worth $172,693,000 after purchasing an additional 46,948 shares in the last quarter. Mackenzie Financial Corp lifted its position in shares of HudBay Minerals by 116.1% during the 4th quarter. Mackenzie Financial Corp now owns 10,178,626 shares of the mining company’s stock worth $202,327,000 after buying an additional 5,468,109 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in shares of HudBay Minerals by 15.8% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 9,457,298 shares of the mining company’s stock valued at $187,743,000 after buying an additional 1,293,023 shares in the last quarter. Finally, Royal Bank of Canada boosted its holdings in shares of HudBay Minerals by 7.8% in the 1st quarter. Royal Bank of Canada now owns 8,254,831 shares of the mining company’s stock valued at $172,526,000 after buying an additional 597,422 shares in the last quarter. 57.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently commented on HBM shares. Citigroup reiterated a “positive” rating on shares of HudBay Minerals in a research report on Wednesday, July 15th. Jefferies Financial Group reaffirmed a “buy” rating on shares of HudBay Minerals in a research report on Monday, July 6th. Weiss Ratings lowered shares of HudBay Minerals from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, August 13th. Wall Street Zen downgraded shares of HudBay Minerals from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Finally, Barclays raised their price objective on shares of HudBay Minerals from $30.00 to $32.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 15th. Eleven equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.33.

HudBay Minerals Price Performance

Shares of NYSE HBM opened at $28.56 on Tuesday. The stock has a fifty day moving average price of $24.64 and a 200 day moving average price of $24.61. HudBay Minerals Inc has a 1-year low of $11.62 and a 1-year high of $32.15. 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 company has a market cap of $12.68 billion, a PE ratio of 16.80, a P/E/G ratio of 0.45 and a beta of 1.48.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last announced its quarterly earnings data on Wednesday, July 29th. The mining company reported $0.28 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 company had revenue of $631.30 million during the quarter, compared to the consensus estimate of $632.43 million. During the same quarter in the prior year, the firm earned $0.19 EPS. HudBay Minerals’s quarterly revenue was up 17.7% on a year-over-year basis. Sell-side analysts forecast that HudBay Minerals Inc will post 1.58 EPS for the current year.

HudBay Minerals Announces Dividend

The company also recently declared 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. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date is Tuesday, September 8th. HudBay Minerals’s payout ratio is 1.76%.

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.