HudBay Minerals Inc $HBM Stock Holdings Decreased by Cumberland Partners Ltd

Cumberland Partners Ltd lowered its stake in HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) by 36.2% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 232,800 shares of the mining company’s stock after selling 131,900 shares during the period. Cumberland Partners Ltd’s holdings in HudBay Minerals were worth $4,627,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of HBM. Waterfront Wealth Inc. grew its position in HudBay Minerals by 1.0% in the 4th quarter. Waterfront Wealth Inc. now owns 39,451 shares of the mining company’s stock worth $783,000 after purchasing an additional 399 shares during the last quarter. Strong Tower Advisory Services grew its position in HudBay Minerals by 0.6% in the 4th quarter. Strong Tower Advisory Services now owns 94,762 shares of the mining company’s stock worth $1,881,000 after purchasing an additional 587 shares during the last quarter. Savant Capital LLC grew its position in HudBay Minerals by 2.4% in the 3rd quarter. Savant Capital LLC now owns 32,010 shares of the mining company’s stock worth $485,000 after purchasing an additional 760 shares during the last quarter. Allworth Financial LP grew its position in HudBay Minerals by 107.9% in the 3rd 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 last quarter. Finally, Creative Planning grew its position in HudBay Minerals by 5.4% in the 2nd quarter. Creative Planning now owns 25,067 shares of the mining company’s stock worth $266,000 after purchasing an additional 1,289 shares during the last quarter. Institutional investors own 57.82% of the company’s stock.

HudBay Minerals Stock Down 1.5%

Shares of NYSE:HBM opened at $24.36 on Friday. 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 has a market cap of $9.68 billion, a PE ratio of 14.68, a price-to-earnings-growth ratio of 0.29 and a beta of 1.37. HudBay Minerals Inc has a 52 week low of $8.42 and a 52 week high of $28.74. The firm has a 50 day simple moving average of $22.97 and a 200 day simple moving average of $21.76.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last issued its quarterly earnings results on Friday, May 1st. The mining company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.34 by $0.06. The business had revenue of $757.30 million during 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 firm earned $0.24 EPS. As a group, research analysts expect that HudBay Minerals Inc will post 1.65 earnings per share for the current year.

HudBay Minerals Dividend Announcement

The company 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 $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Tuesday, June 9th. HudBay Minerals’s dividend payout ratio is 0.60%.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Barclays assumed coverage on shares of HudBay Minerals in a research report on Thursday. They issued an “overweight” rating and a $30.00 target price for the company. Wall Street Zen upgraded shares of HudBay Minerals from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of HudBay Minerals in a research report on Tuesday, April 21st. Zacks Research cut shares of HudBay Minerals from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 17th. Finally, National Bank Financial cut shares of HudBay Minerals from an “outperform” rating to a “sector perform” rating in a report on Wednesday, January 28th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, HudBay Minerals has a consensus rating of “Moderate Buy” and an average target price of $27.33.

HudBay Minerals 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.