Hillsdale Investment Management Inc. Sells 394,500 Shares of HudBay Minerals Inc $HBM

Hillsdale Investment Management Inc. lessened its holdings in HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) by 38.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 628,600 shares of the mining company’s stock after selling 394,500 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in HudBay Minerals were worth $12,502,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in HudBay Minerals by 2.4% in the 3rd quarter. Vanguard Group Inc. now owns 16,198,255 shares of the mining company’s stock valued at $245,355,000 after buying an additional 373,399 shares during the period. Invesco Ltd. increased its holdings in HudBay Minerals by 0.4% in the 3rd quarter. Invesco Ltd. now owns 11,391,356 shares of the mining company’s stock valued at $172,693,000 after buying an additional 46,948 shares during the period. Dimensional Fund Advisors LP increased its holdings in HudBay Minerals by 3.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 11,334,474 shares of the mining company’s stock valued at $171,832,000 after buying an additional 348,278 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in HudBay Minerals by 10.4% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,502,218 shares of the mining company’s stock valued at $159,111,000 after buying an additional 986,278 shares during the period. Finally, Arrowstreet Capital Limited Partnership bought a new stake in HudBay Minerals in the 3rd quarter valued at $123,736,000. Institutional investors own 57.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on HBM. Barclays initiated coverage on shares of HudBay Minerals in a report on Thursday, May 21st. They issued an “overweight” rating and a $30.00 price target on the stock. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of HudBay Minerals in a research note on Tuesday, April 21st. Zacks Research downgraded shares of HudBay Minerals from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 17th. Citigroup boosted their target price on shares of HudBay Minerals from $23.00 to $32.50 and gave the company a “buy” rating in a research note on Wednesday, February 11th. Finally, Wall Street Zen upgraded shares of HudBay Minerals from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $27.33.

HudBay Minerals Stock Up 3.3%

Shares of NYSE:HBM opened at $29.16 on Friday. HudBay Minerals Inc has a 52 week low of $8.76 and a 52 week high of $29.27. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.20 and a current ratio of 1.36. The company’s fifty day moving average is $23.57 and its 200-day moving average is $22.16. The company has a market capitalization of $11.58 billion, a PE ratio of 17.57, a P/E/G ratio of 0.33 and a beta of 1.37.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last issued its quarterly earnings results on Friday, May 1st. The mining company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.06. The business had revenue of $757.30 million for the quarter, compared to the consensus estimate of $684.73 million. HudBay Minerals had a net margin of 27.75% and a return on equity of 10.04%. The firm’s quarterly revenue was up 27.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.24 EPS. Equities research analysts predict that HudBay Minerals Inc will post 1.65 earnings per share for the current fiscal year.

HudBay Minerals Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Tuesday, June 9th will be given a dividend of $0.01 per share. The ex-dividend date is Tuesday, June 9th. This represents a $0.04 annualized dividend and a yield of 0.1%. HudBay Minerals’s dividend payout ratio is 0.60%.

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.