Moore Capital Management LP Lowers Stock Holdings in HudBay Minerals Inc $HBM

Moore Capital Management LP decreased its position in shares of HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) by 39.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 782,099 shares of the mining company’s stock after selling 503,272 shares during the period. Moore Capital Management LP owned approximately 0.20% of HudBay Minerals worth $15,529,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in HBM. Jones Financial Companies Lllp raised its position in HudBay Minerals by 131.6% during the first quarter. Jones Financial Companies Lllp now owns 6,570 shares of the mining company’s stock valued at $50,000 after purchasing an additional 3,733 shares in the last quarter. Goldman Sachs Group Inc. raised its position in HudBay Minerals by 144.2% during the first 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 in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of HudBay Minerals by 6.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 439,687 shares of the mining company’s stock worth $3,337,000 after buying an additional 27,944 shares during the period. Geode Capital Management LLC increased its holdings in shares of HudBay Minerals by 7.4% in the second quarter. Geode Capital Management LLC now owns 221,685 shares of the mining company’s stock worth $2,363,000 after buying an additional 15,235 shares during the period. Finally, Creative Planning increased its holdings in shares of HudBay Minerals by 5.4% in the second quarter. Creative Planning now owns 25,067 shares of the mining company’s stock worth $266,000 after buying an additional 1,289 shares during the period. Hedge funds and other institutional investors own 57.82% of the company’s stock.

HudBay Minerals Stock Down 3.4%

Shares of NYSE:HBM opened at $28.12 on Thursday. HudBay Minerals Inc has a 1 year low of $8.93 and a 1 year high of $32.15. The company has a market cap of $11.17 billion, a PE ratio of 16.94, a P/E/G ratio of 0.34 and a beta of 1.43. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.36 and a quick ratio of 1.20. The stock’s 50-day moving average is $25.68 and its 200 day moving average is $23.32.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last announced its quarterly earnings results on Friday, May 1st. The mining company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.06. HudBay Minerals had a return on equity of 10.04% and a net margin of 27.75%.The company had revenue of $757.30 million for the quarter, compared to the consensus estimate of $684.73 million. During the same quarter in the previous year, the business earned $0.24 EPS. HudBay Minerals’s revenue was up 27.3% compared to the same quarter last year. Sell-side analysts anticipate that HudBay Minerals Inc will post 1.66 EPS for the current year.

HudBay Minerals Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Tuesday, June 9th will be given 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 payout ratio is presently 1.81%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Barclays assumed coverage on HudBay Minerals in a report on Thursday, May 21st. They issued an “overweight” rating and a $30.00 price objective on the stock. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of HudBay Minerals in a report on Tuesday, April 21st. Weiss Ratings downgraded HudBay Minerals from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, June 8th. Finally, Wall Street Zen upgraded HudBay Minerals from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, HudBay Minerals currently has a consensus rating of “Buy” and an average target price of $27.33.

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.