Donald Smith & CO. Inc. Sells 5,725,208 Shares of HudBay Minerals Inc $HBM

Donald Smith & CO. Inc. lowered its stake in HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) by 99.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 35,913 shares of the mining company’s stock after selling 5,725,208 shares during the period. Donald Smith & CO. Inc.’s holdings in HudBay Minerals were worth $713,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of HBM. Allworth Financial LP increased its position in shares of HudBay Minerals by 107.9% in the third quarter. Allworth Financial LP now owns 1,990 shares of the mining company’s stock worth $30,000 after purchasing an additional 1,033 shares during the period. Quarry LP bought a new position in shares of HudBay Minerals in the third quarter worth $38,000. IFP Advisors Inc bought a new position in shares of HudBay Minerals in the third quarter worth $45,000. Banque Cantonale Vaudoise grew its position in HudBay Minerals by 513.5% in the third quarter. Banque Cantonale Vaudoise now owns 3,172 shares of the mining company’s stock valued at $48,000 after acquiring an additional 2,655 shares during the last quarter. Finally, Jones Financial Companies Lllp grew its position in HudBay Minerals by 131.6% in the first quarter. Jones Financial Companies Lllp now owns 6,570 shares of the mining company’s stock valued at $50,000 after acquiring an additional 3,733 shares during the last quarter. Institutional investors own 57.82% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on HBM. Weiss Ratings cut HudBay Minerals from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday. Citigroup lifted their target price on HudBay Minerals from $23.00 to $32.50 and gave the company a “buy” rating in a research report on Wednesday, February 11th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of HudBay Minerals in a research report on Tuesday, April 21st. Barclays began coverage on HudBay Minerals in a research report on Thursday, May 21st. They issued an “overweight” rating and a $30.00 target price on the stock. Finally, Wall Street Zen upgraded HudBay Minerals from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, HudBay Minerals has a consensus rating of “Buy” and a consensus target price of $27.33.

HudBay Minerals Stock Performance

HudBay Minerals stock opened at $24.64 on Thursday. The business’s 50-day moving average price is $25.03 and its two-hundred day moving average price is $22.89. HudBay Minerals Inc has a 12-month low of $8.93 and a 12-month high of $32.15. The stock has a market cap of $9.79 billion, a PE ratio of 14.84, a P/E/G ratio of 0.30 and a beta of 1.43. The company has a quick ratio of 1.20, a current ratio of 1.36 and a debt-to-equity ratio of 0.14.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last announced its quarterly earnings results on Friday, May 1st. The mining company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $684.73 million. During the same period last year, the firm posted $0.24 earnings per share. The business’s revenue for the quarter was up 27.3% on a year-over-year basis. As a group, analysts expect that HudBay Minerals Inc will post 1.66 earnings per share for the current fiscal year.

HudBay Minerals Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Tuesday, June 9th 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 0.2%. The ex-dividend date of this dividend is Tuesday, June 9th. HudBay Minerals’s dividend payout ratio (DPR) 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.