Mudita Advisors LLP Lowers Stock Position in HudBay Minerals Inc $HBM

Mudita Advisors LLP reduced its position in HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) by 31.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 924,505 shares of the mining company’s stock after selling 432,600 shares during the period. HudBay Minerals makes up about 4.1% of Mudita Advisors LLP’s investment portfolio, making the stock its 8th biggest position. Mudita Advisors LLP owned approximately 0.23% of HudBay Minerals worth $14,014,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. GMT Capital Corp purchased a new position in HudBay Minerals in the second quarter worth about $337,809,000. Vanguard Group Inc. increased its position in shares of HudBay Minerals by 2.4% during the 3rd quarter. Vanguard Group Inc. now owns 16,198,255 shares of the mining company’s stock valued at $245,355,000 after purchasing an additional 373,399 shares during the last quarter. L1 Capital Pty Ltd increased its position in shares of HudBay Minerals by 4.4% during the 2nd quarter. L1 Capital Pty Ltd now owns 15,054,087 shares of the mining company’s stock valued at $159,864,000 after purchasing an additional 630,703 shares during the last quarter. Hancock Prospecting Pty Ltd bought a new position in shares of HudBay Minerals in the 2nd quarter worth approximately $154,359,000. Finally, Invesco Ltd. lifted its stake in shares of HudBay Minerals by 0.4% in the 3rd 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 during the period. Hedge funds and other institutional investors own 57.82% of the company’s stock.

HudBay Minerals Price Performance

Shares of NYSE HBM traded down $0.64 during midday trading on Friday, reaching $21.21. The stock had a trading volume of 569,734 shares, compared to its average volume of 6,391,650. The company has a market capitalization of $8.42 billion, a price-to-earnings ratio of 14.81, a price-to-earnings-growth ratio of 0.31 and a beta of 1.27. HudBay Minerals Inc has a 12-month low of $5.95 and a 12-month high of $28.74. The stock 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 released its earnings results on Friday, February 20th. The mining company reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.18). HudBay Minerals had a net margin of 25.71% and a return on equity of 8.91%. The firm had revenue of $732.90 million for the quarter, compared to analysts’ expectations of $730.13 million. During the same quarter last year, the firm posted $0.18 EPS. The firm’s quarterly revenue was up 25.3% compared to the same quarter last year. As a group, research analysts anticipate that HudBay Minerals Inc will post 0.79 EPS for the current fiscal year.

HudBay Minerals Announces Dividend

The firm also recently announced a dividend, which will be paid on Friday, March 27th. Investors of record on Tuesday, March 10th will be given a dividend of $0.01 per share. The ex-dividend date is Tuesday, March 10th. This represents a dividend yield of 9.0%. HudBay Minerals’s dividend payout ratio (DPR) is currently 0.70%.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Royal Bank Of Canada restated an “outperform” rating on shares of HudBay Minerals in a research report on Monday, November 17th. Scotiabank reiterated an “outperform” rating on shares of HudBay Minerals in a research report on Monday, January 26th. Raymond James Financial reissued an “outperform” rating on shares of HudBay Minerals in a research report on Wednesday, January 14th. Jefferies Financial Group reaffirmed a “buy” rating on shares of HudBay Minerals in a report on Sunday, December 7th. Finally, UBS Group began coverage on HudBay Minerals in a report on Thursday, January 8th. They set a “buy” rating for the company. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $26.00.

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.