GMT Capital Corp Decreases Stock Position in HudBay Minerals Inc $HBM

GMT Capital Corp trimmed its position in shares of HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) by 12.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,641,220 shares of the mining company’s stock after selling 3,462,400 shares during the period. HudBay Minerals accounts for 25.5% of GMT Capital Corp’s portfolio, making the stock its largest holding. GMT Capital Corp owned 6.21% of HudBay Minerals worth $489,858,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of HBM. Arrowstreet Capital Limited Partnership bought a new stake in shares of HudBay Minerals during the 3rd quarter valued at $123,736,000. Norges Bank bought a new stake in shares of HudBay Minerals during the 4th quarter valued at $105,315,000. Goldman Sachs Group Inc. raised its position in shares of HudBay Minerals by 144.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 7,281,095 shares of the mining company’s stock valued at $55,264,000 after purchasing an additional 4,299,428 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of HudBay Minerals by 145.3% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,502,180 shares of the mining company’s stock valued at $98,466,000 after purchasing an additional 3,851,771 shares during the period. Finally, Bank of Nova Scotia raised its position in shares of HudBay Minerals by 662.0% during the 3rd quarter. Bank of Nova Scotia now owns 4,273,384 shares of the mining company’s stock valued at $64,783,000 after purchasing an additional 3,712,572 shares during the period. 57.82% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in 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 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. Weiss Ratings cut shares of HudBay Minerals from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, June 8th. Zacks Research cut shares of HudBay Minerals from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 17th. Finally, Wall Street Zen raised shares of HudBay Minerals from a “hold” rating to a “buy” rating in a research note 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 given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $27.33.

HudBay Minerals Stock Performance

Shares of NYSE:HBM opened at $27.79 on Friday. HudBay Minerals Inc has a 52 week low of $8.93 and a 52 week high of $32.15. The stock has a market capitalization of $11.04 billion, a P/E ratio of 16.74, a PEG ratio of 0.32 and a beta of 1.43. The firm has a fifty day simple moving average of $25.26 and a two-hundred day simple moving average of $23.01. 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 issued its quarterly earnings data on Friday, May 1st. The mining company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.06. The business had revenue of $757.30 million during the quarter, compared to analysts’ expectations of $684.73 million. HudBay Minerals had a net margin of 27.75% and a return on equity of 10.04%. The business’s revenue was up 27.3% on a year-over-year basis. During the same period last year, the company posted $0.24 EPS. On average, analysts expect that HudBay Minerals Inc will post 1.66 earnings per share for the current fiscal year.

HudBay Minerals Announces Dividend

The company also recently announced 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 (DPR) is 1.81%.

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.