BNP Paribas Financial Markets Cuts Position in HudBay Minerals Inc $HBM

BNP Paribas Financial Markets cut its stake in HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) by 22.5% in the 4th quarter, Holdings Channel reports. The fund owned 1,094,978 shares of the mining company’s stock after selling 318,080 shares during the quarter. BNP Paribas Financial Markets’ holdings in HudBay Minerals were worth $21,735,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Waterfront Wealth Inc. lifted its stake in HudBay Minerals by 1.0% in the fourth 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 lifted its stake in HudBay Minerals by 0.6% in the fourth 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 lifted its stake in HudBay Minerals by 2.4% in the third 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 lifted its stake in 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 last quarter. Finally, Creative Planning lifted its stake in HudBay Minerals by 5.4% in the second 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. 57.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on HBM shares. Barclays started coverage on shares of HudBay Minerals in a research note on Thursday, May 21st. They issued an “overweight” rating and a $30.00 price target for the company. 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 price objective on shares of HudBay Minerals from $23.00 to $32.50 and gave the company a “buy” rating in a research report on Wednesday, February 11th. Weiss Ratings upgraded shares of HudBay Minerals from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, February 10th. Finally, Wall Street Zen upgraded shares of HudBay Minerals from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $27.33.

HudBay Minerals Stock Down 14.9%

NYSE:HBM opened at $25.63 on Friday. The firm has a market cap of $10.18 billion, a P/E ratio of 15.44, a P/E/G ratio of 0.35 and a beta of 1.43. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.20 and a current ratio of 1.36. HudBay Minerals Inc has a fifty-two week low of $8.93 and a fifty-two week high of $32.15. The firm has a 50-day simple moving average of $24.66 and a two-hundred day simple moving average of $22.62.

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 for the quarter, beating analysts’ consensus estimates of $0.34 by $0.06. The business had revenue of $757.30 million during the quarter, compared to analyst estimates of $684.73 million. HudBay Minerals had a net margin of 27.75% and a return on equity of 10.04%. HudBay Minerals’s revenue was up 27.3% compared to the same quarter last year. During the same period last year, the business earned $0.24 EPS. Analysts predict that HudBay Minerals Inc will post 1.66 earnings per share for the current fiscal year.

HudBay Minerals Dividend Announcement

The company 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 dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date is Tuesday, June 9th. HudBay Minerals’s dividend payout ratio (DPR) is currently 0.60%.

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.