Temasek Holdings Private Ltd Cuts Stake in HudBay Minerals Inc $HBM

Temasek Holdings Private Ltd lowered its stake in shares of HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) by 59.4% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 800,528 shares of the mining company’s stock after selling 1,172,280 shares during the quarter. Temasek Holdings Private Ltd owned approximately 0.20% of HudBay Minerals worth $12,136,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Global Retirement Partners LLC purchased a new position in HudBay Minerals in the third quarter valued at about $45,000. Banque Cantonale Vaudoise grew its position in shares of HudBay Minerals by 513.5% during the 3rd 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 period. Jones Financial Companies Lllp increased its stake in shares of HudBay Minerals by 131.6% during the 1st quarter. Jones Financial Companies Lllp now owns 6,570 shares of the mining company’s stock worth $50,000 after purchasing an additional 3,733 shares during the last quarter. Quadrant Capital Group LLC purchased a new stake in shares of HudBay Minerals during the 3rd quarter worth approximately $123,000. Finally, Verus Capital Partners LLC bought a new stake in shares of HudBay Minerals in the 3rd quarter worth approximately $152,000. Hedge funds and other institutional investors own 57.82% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on HBM. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of HudBay Minerals in a research note on Thursday, January 15th. Scotiabank reissued an “outperform” rating on shares of HudBay Minerals in a research report on Monday, January 26th. Wall Street Zen lowered HudBay Minerals from a “buy” rating to a “hold” rating in a research note on Sunday, March 1st. Citigroup upped their price target on HudBay Minerals from $23.00 to $32.50 and gave the company a “buy” rating in a research report on Wednesday, February 11th. Finally, Jefferies Financial Group reiterated a “buy” rating on shares of HudBay Minerals in a research note on Sunday, December 7th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $26.00.

HudBay Minerals Stock Down 5.2%

HBM opened at $20.71 on Friday. HudBay Minerals Inc has a 12 month low of $5.95 and a 12 month high of $28.74. The company has a market cap of $8.22 billion, a PE ratio of 14.48, a price-to-earnings-growth ratio of 0.30 and a beta of 1.27. The company has a current ratio of 0.95, a quick ratio of 0.78 and a debt-to-equity ratio of 0.18. The company has a 50 day moving average of $24.38 and a 200 day moving average of $18.90.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last issued its earnings results on Friday, February 20th. The mining company reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.18). The business had revenue of $732.90 million for the quarter, compared to the consensus estimate of $730.13 million. HudBay Minerals had a net margin of 25.71% and a return on equity of 8.91%. The company’s revenue was up 25.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.18 EPS. On average, sell-side analysts expect that HudBay Minerals Inc will post 0.79 EPS for the current year.

HudBay Minerals Dividend Announcement

The business also recently declared a dividend, which will be paid on Friday, March 27th. Stockholders of record on Tuesday, March 10th will be given a $0.01 dividend. The ex-dividend date is Tuesday, March 10th. This represents a dividend yield of 9.0%. HudBay Minerals’s payout ratio is 0.70%.

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.