Persistent Asset Partners Ltd Sells 55,398 Shares of HudBay Minerals Inc $HBM

Persistent Asset Partners Ltd cut its holdings in HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) by 45.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 67,754 shares of the mining company’s stock after selling 55,398 shares during the period. Persistent Asset Partners Ltd’s holdings in HudBay Minerals were worth $1,026,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in HBM. GMT Capital Corp purchased a new position in HudBay Minerals in the second quarter worth about $337,809,000. Hancock Prospecting Pty Ltd purchased a new position in shares of HudBay Minerals in the 2nd quarter worth approximately $154,359,000. Picton Mahoney Asset Management bought a new position in shares of HudBay Minerals during the 2nd quarter valued at approximately $61,432,000. Norges Bank bought a new position in shares of HudBay Minerals during the 2nd quarter valued at approximately $60,053,000. Finally, Goldman Sachs Group Inc. raised its holdings in HudBay Minerals by 144.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 7,281,095 shares of the mining company’s stock valued at $55,264,000 after buying an additional 4,299,428 shares during the period. Institutional investors own 57.82% of the company’s stock.

HudBay Minerals Price Performance

HBM opened at $24.67 on Friday. The company has a market capitalization of $9.79 billion, a price-to-earnings ratio of 21.26 and a beta of 1.33. The company has a current ratio of 0.97, a quick ratio of 0.76 and a debt-to-equity ratio of 0.18. HudBay Minerals Inc has a 12-month low of $5.95 and a 12-month high of $28.74. The business’s fifty day simple moving average is $22.72 and its 200-day simple moving average is $17.32.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last released its quarterly earnings data on Friday, February 20th. The mining company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.08). HudBay Minerals had a net margin of 22.38% and a return on equity of 8.89%. On average, equities research analysts anticipate that HudBay Minerals Inc will post 0.79 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

HBM has been the topic of a number of analyst reports. Jefferies Financial Group reiterated a “buy” rating on shares of HudBay Minerals in a research report on Sunday, December 7th. Raymond James Financial reissued an “outperform” rating on shares of HudBay Minerals in a research note on Wednesday, January 14th. Wall Street Zen lowered HudBay Minerals from a “buy” rating to a “hold” rating in a research report on Saturday, November 15th. National Bank Financial downgraded HudBay Minerals from an “outperform” rating to a “sector perform” rating in a report on Wednesday, January 28th. Finally, Weiss Ratings raised 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 given a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $26.00.

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.