HudBay Minerals Inc $HBM Shares Sold by CastleKnight Management LP

CastleKnight Management LP decreased its holdings in HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) by 11.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,166,200 shares of the mining company’s stock after selling 145,300 shares during the period. HudBay Minerals comprises approximately 0.5% of CastleKnight Management LP’s portfolio, making the stock its 24th largest position. CastleKnight Management LP owned 0.29% of HudBay Minerals worth $23,162,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of HBM. FIL Ltd grew its stake in shares of HudBay Minerals by 202.0% during the fourth quarter. FIL Ltd now owns 33,143,172 shares of the mining company’s stock worth $658,010,000 after purchasing an additional 22,169,339 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of HudBay Minerals by 2.4% during the third quarter. Vanguard Group Inc. now owns 16,198,255 shares of the mining company’s stock worth $245,355,000 after purchasing an additional 373,399 shares in the last quarter. Invesco Ltd. grew its stake in shares of HudBay Minerals by 0.4% during the third 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 in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of HudBay Minerals by 3.2% during the third quarter. Dimensional Fund Advisors LP now owns 11,334,474 shares of the mining company’s stock worth $171,832,000 after purchasing an additional 348,278 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of HudBay Minerals by 10.4% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,502,218 shares of the mining company’s stock worth $159,111,000 after purchasing an additional 986,278 shares in the last quarter. Institutional investors and hedge funds own 57.82% of the company’s stock.

HudBay Minerals Stock Performance

NYSE HBM opened at $28.12 on Thursday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.36 and a quick ratio of 1.20. HudBay Minerals Inc has a 1 year low of $8.93 and a 1 year high of $32.15. The company has a market capitalization of $11.17 billion, a PE ratio of 16.94, a P/E/G ratio of 0.34 and a beta of 1.43. The company has a fifty day moving average of $25.68 and a two-hundred day moving average of $23.32.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last released its quarterly earnings data on Friday, May 1st. The mining company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.06. HudBay Minerals had a net margin of 27.75% and a return on equity of 10.04%. The company had revenue of $757.30 million during the quarter, compared to the consensus estimate of $684.73 million. During the same quarter in the prior year, the firm posted $0.24 earnings per share. HudBay Minerals’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 year.

HudBay Minerals Dividend Announcement

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

Analyst Ratings Changes

A number of equities analysts recently commented on HBM shares. Wall Street Zen upgraded shares of HudBay Minerals from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Barclays started coverage on shares of HudBay Minerals in a research note on Thursday, May 21st. They set an “overweight” rating and a $30.00 target price for the company. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of HudBay Minerals in a research note on Tuesday, April 21st. Finally, Weiss Ratings downgraded shares of HudBay Minerals from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, June 8th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $27.33.

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.