HudBay Minerals Inc $HBM is Mountaineer Partners Management LLC’s 2nd Largest Position

Mountaineer Partners Management LLC trimmed its stake in HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) by 17.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 787,247 shares of the mining company’s stock after selling 168,172 shares during the period. HudBay Minerals makes up about 8.7% of Mountaineer Partners Management LLC’s portfolio, making the stock its 2nd biggest position. Mountaineer Partners Management LLC owned about 0.20% of HudBay Minerals worth $15,627,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. Barclays PLC lifted its stake in shares of HudBay Minerals by 48.3% in the 4th quarter. Barclays PLC now owns 127,190 shares of the mining company’s stock valued at $2,525,000 after purchasing an additional 41,449 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake 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 purchasing an additional 1,293,023 shares during the last quarter. Acasta Partners UK LLP bought a new stake in shares of HudBay Minerals in the 4th quarter valued at approximately $1,820,000. Kestra Advisory Services LLC bought a new stake in shares of HudBay Minerals in the 4th quarter valued at approximately $71,000. Finally, CANADA LIFE ASSURANCE Co lifted its stake in shares of HudBay Minerals by 4.3% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 157,938 shares of the mining company’s stock valued at $3,127,000 after purchasing an additional 6,451 shares during the last quarter. 57.82% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on HBM shares. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of HudBay Minerals in a research note on Tuesday, April 21st. Barclays started coverage on HudBay Minerals in a research note on Thursday, May 21st. They issued an “overweight” rating and a $30.00 price objective for the company. Weiss Ratings lowered HudBay Minerals from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, June 8th. Zacks Research lowered HudBay Minerals from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 17th. Finally, Wall Street Zen raised HudBay Minerals from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, HudBay Minerals presently has a consensus rating of “Buy” and a consensus price target of $27.33.

HudBay Minerals Trading Down 0.1%

Shares of NYSE HBM opened at $27.79 on Monday. 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 business’s 50 day moving average price is $25.26 and its 200-day moving average price is $23.06. HudBay Minerals Inc has a fifty-two week low of $8.93 and a fifty-two week high of $32.15. The company has a market cap of $11.04 billion, a price-to-earnings ratio of 16.74, a PEG ratio of 0.32 and a beta of 1.43.

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 for the quarter, topping the consensus estimate of $0.34 by $0.06. HudBay Minerals had a return on equity of 10.04% and a net margin of 27.75%.The firm had revenue of $757.30 million for the quarter, compared to the consensus estimate of $684.73 million. During the same period in the prior year, the business posted $0.24 earnings per share. The company’s revenue for the quarter was up 27.3% on a year-over-year basis. On average, sell-side analysts expect that HudBay Minerals Inc will post 1.66 earnings per share for the current year.

HudBay Minerals Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Tuesday, June 9th will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.1%. The ex-dividend date is Tuesday, June 9th. HudBay Minerals’s dividend payout ratio is presently 1.81%.

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.