HudBay Minerals Inc $HBM Stock: Robeco Institutional Asset Management B.V. Decreases Holdings

Robeco Institutional Asset Management B.V. trimmed its stake in shares of HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) by 31.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 562,364 shares of the mining company’s stock after selling 259,792 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in HudBay Minerals were worth $15,004,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently made changes to their positions in HBM. Triasima Portfolio Management inc. raised its position in shares of HudBay Minerals by 4.2% in the third quarter. Triasima Portfolio Management inc. now owns 587,103 shares of the mining company’s stock worth $15,731,000 after acquiring an additional 23,556 shares during the period. GK Wealth Management LLC purchased a new stake in shares of HudBay Minerals during the third quarter worth approximately $87,000. Acasta Partners UK LLP grew its holdings in shares of HudBay Minerals by 75.7% during the third quarter. Acasta Partners UK LLP now owns 197,352 shares of the mining company’s stock worth $5,270,000 after buying an additional 85,000 shares in the last quarter. Bullseye Investment Management LLC purchased a new position in HudBay Minerals in the 2nd quarter worth approximately $30,000. Finally, Integrated Wealth Concepts LLC purchased a new position in HudBay Minerals in the 2nd quarter worth approximately $36,000. 57.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently weighed in on HBM. Scotiabank restated an “outperform” rating on shares of HudBay Minerals in a report on Thursday, July 30th. Bank of America reduced their price objective on HudBay Minerals from $33.50 to $29.50 and set a “buy” rating on the stock in a research report on Thursday, July 9th. Citigroup reissued a “positive” rating on shares of HudBay Minerals in a research note on Wednesday, July 15th. Wall Street Zen raised HudBay Minerals from a “hold” rating to a “buy” rating in a research note on Saturday, October 17th. Finally, Barclays restated an “overweight” rating on shares of HudBay Minerals in a report on Tuesday, October 6th. Ten analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $31.33.

HudBay Minerals Price Performance

HudBay Minerals stock opened at $21.96 on Friday. The company has a current ratio of 2.24, a quick ratio of 1.93 and a debt-to-equity ratio of 0.17. The company has a 50-day moving average price of $26.69 and a 200 day moving average price of $25.44. HudBay Minerals Inc has a 12-month low of $14.34 and a 12-month high of $32.15. The stock has a market cap of $9.75 billion, a P/E ratio of 12.92, a PEG ratio of 0.39 and a beta of 1.58.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last posted its earnings results on Wednesday, July 29th. The mining company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.02. HudBay Minerals had a net margin of 27.48% and a return on equity of 9.47%. The company had revenue of $631.30 million for the quarter, compared to analyst estimates of $632.43 million. During the same period in the previous year, the business posted $0.19 EPS. HudBay Minerals’s revenue was up 17.7% on a year-over-year basis. Sell-side analysts anticipate that HudBay Minerals Inc will post 1.40 earnings per share for the current year.

HudBay Minerals Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Tuesday, September 8th were given a dividend of C$0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend was Tuesday, September 8th. HudBay Minerals’s payout ratio is presently 1.76%.

About HudBay Minerals

Hudbay Minerals Inc is a Canadian mining company focused primarily on the exploration, development, and operation of copper, gold, zinc, and silver deposits. Copper is its principal product, with associated precious and base metals produced from several of its operations.

The company operates in Canada, Peru, and the United States. Its assets include the Constancia copper-molybdenum mine in southern Peru; the Snow Lake operations in Manitoba, which produce copper, gold, zinc, and silver; and the Copper Mountain mine in British Columbia.