Vanguard Group Inc. Sells 355,997 Shares of HudBay Minerals Inc $HBM

Vanguard Group Inc. decreased its holdings in shares of HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) by 2.2% in the fourth quarter, HoldingsChannel reports. The firm owned 15,842,258 shares of the mining company’s stock after selling 355,997 shares during the quarter. Vanguard Group Inc.’s holdings in HudBay Minerals were worth $314,532,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Allworth Financial LP raised its position in HudBay Minerals by 107.9% during the 3rd quarter. Allworth Financial LP now owns 1,990 shares of the mining company’s stock valued at $30,000 after purchasing an additional 1,033 shares during the last quarter. Quarry LP bought a new position in HudBay Minerals during the 3rd quarter valued at approximately $38,000. Global Retirement Partners LLC bought a new position in HudBay Minerals during the 3rd quarter valued at approximately $45,000. IFP Advisors Inc bought a new position in HudBay Minerals during the 3rd quarter valued at approximately $45,000. Finally, Banque Cantonale Vaudoise raised its position in 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 purchasing an additional 2,655 shares during the last quarter. Institutional investors own 57.82% of the company’s stock.

HudBay Minerals Stock Down 0.4%

HBM stock opened at $23.91 on Friday. HudBay Minerals Inc has a fifty-two week low of $7.45 and a fifty-two week high of $28.74. The business’s 50 day moving average price is $22.86 and its two-hundred day moving average price is $21.06. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.78 and a current ratio of 1.36. The company has a market capitalization of $9.50 billion, a price-to-earnings ratio of 14.41, a price-to-earnings-growth ratio of 0.29 and a beta of 1.37.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last posted its earnings results on Friday, May 1st. The mining company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.06. The firm had revenue of $757.30 million for the quarter, compared to the consensus estimate of $684.73 million. HudBay Minerals had a return on equity of 10.04% and a net margin of 27.75%.The business’s revenue for the quarter was up 27.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.24 EPS. As a group, analysts forecast that HudBay Minerals Inc will post 1.58 earnings per share for the current fiscal year.

HudBay Minerals Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Tuesday, June 9th will be paid a $0.01 dividend. The ex-dividend date is Tuesday, June 9th. This represents a $0.04 annualized dividend and a dividend yield of 0.2%. HudBay Minerals’s dividend payout ratio is presently 0.60%.

Analyst Upgrades and Downgrades

HBM has been the subject of a number of recent analyst reports. Raymond James Financial reaffirmed an “outperform” rating on shares of HudBay Minerals in a research report on Wednesday, January 14th. National Bank Financial lowered HudBay Minerals from an “outperform” rating to a “sector perform” rating in a research report on Wednesday, January 28th. Wall Street Zen raised HudBay Minerals from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of HudBay Minerals in a research report on Tuesday, April 21st. Finally, Scotiabank reiterated an “outperform” rating on shares of HudBay Minerals in a report on Monday, January 26th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, HudBay Minerals presently has an average rating of “Moderate Buy” and a consensus target price of $26.00.

HudBay Minerals Company 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.