HudBay Minerals Inc $HBM Shares Sold by CastleKnight Management LP

CastleKnight Management LP lessened its stake in HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) by 11.1% in the 4th quarter, HoldingsChannel.com reports. The fund owned 1,166,200 shares of the mining company’s stock after selling 145,300 shares during the period. HudBay Minerals comprises 0.5% of CastleKnight Management LP’s portfolio, making the stock its 24th largest holding. CastleKnight Management LP’s holdings in HudBay Minerals were worth $23,162,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. Allworth Financial LP raised its holdings in shares of HudBay Minerals by 107.9% in the third quarter. Allworth Financial LP now owns 1,990 shares of the mining company’s stock valued at $30,000 after buying an additional 1,033 shares during the last quarter. Quarry LP purchased a new stake in shares of HudBay Minerals in the third quarter valued at about $38,000. IFP Advisors Inc purchased a new stake in shares of HudBay Minerals in the third quarter valued at about $45,000. Banque Cantonale Vaudoise raised its holdings in shares of HudBay Minerals by 513.5% in the third quarter. Banque Cantonale Vaudoise now owns 3,172 shares of the mining company’s stock valued at $48,000 after buying an additional 2,655 shares during the last quarter. Finally, Jones Financial Companies Lllp raised its holdings in shares of HudBay Minerals by 131.6% in the first quarter. Jones Financial Companies Lllp now owns 6,570 shares of the mining company’s stock valued at $50,000 after buying an additional 3,733 shares during the last quarter. 57.82% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

HBM has been the subject of a number of research reports. Weiss Ratings cut shares of HudBay Minerals from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, June 8th. Barclays initiated coverage on shares of HudBay Minerals in a report on Thursday, May 21st. They issued an “overweight” rating and a $30.00 target price for the company. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of HudBay Minerals in a report on Tuesday, April 21st. Finally, Wall Street Zen raised shares of HudBay Minerals from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, HudBay Minerals currently has a consensus rating of “Buy” and an average price target of $27.33.

HudBay Minerals Trading Down 3.4%

NYSE HBM opened at $28.12 on Thursday. The stock has a market capitalization of $11.17 billion, a P/E ratio of 16.94, a P/E/G ratio of 0.34 and a beta of 1.43. HudBay Minerals Inc has a 52-week low of $8.93 and a 52-week high of $32.15. The firm has a 50-day moving average price of $25.68 and a 200 day moving average price of $23.32. 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 posted its quarterly earnings results on Friday, May 1st. The mining company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.06. The firm 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 firm’s revenue for the quarter was up 27.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.24 earnings per share. Equities research analysts expect that HudBay Minerals Inc will post 1.66 EPS for the current year.

HudBay Minerals Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Tuesday, June 9th will be issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.1%. The ex-dividend date of this dividend is Tuesday, June 9th. HudBay Minerals’s dividend payout ratio is currently 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.