Walleye Capital LLC Sells 75,409 Shares of HudBay Minerals Inc $HBM

Walleye Capital LLC lowered its position in HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) by 53.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 65,885 shares of the mining company’s stock after selling 75,409 shares during the period. Walleye Capital LLC’s holdings in HudBay Minerals were worth $1,377,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Affinity Wealth Management LLC bought a new position in shares of HudBay Minerals during the 4th quarter valued at about $3,857,000. Artemis Investment Management LLP raised its holdings in shares of HudBay Minerals by 15.6% during the 4th quarter. Artemis Investment Management LLP now owns 5,709,453 shares of the mining company’s stock valued at $113,355,000 after buying an additional 770,172 shares in the last quarter. Goehring & Rozencwajg Associates LLC lifted its position in HudBay Minerals by 6.6% in the 4th quarter. Goehring & Rozencwajg Associates LLC now owns 824,951 shares of the mining company’s stock worth $16,380,000 after buying an additional 51,387 shares during the last quarter. Maxi Investments CY Ltd bought a new stake in HudBay Minerals in the 4th quarter worth approximately $993,000. Finally, Louisbourg Investments Inc. purchased a new stake in HudBay Minerals in the fourth quarter worth approximately $5,247,000. Institutional investors own 57.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on HBM. Scotiabank reiterated an “outperform” rating on shares of HudBay Minerals in a research report on Thursday, June 25th. Barclays boosted their price objective on shares of HudBay Minerals from $30.00 to $32.00 and gave the stock an “overweight” rating in a report on Wednesday, July 15th. Citigroup reaffirmed a “positive” rating on shares of HudBay Minerals in a research note on Wednesday, July 15th. Wall Street Zen raised shares of HudBay Minerals from a “hold” rating to a “buy” rating in a report on Monday. Finally, Jefferies Financial Group reissued a “buy” rating on shares of HudBay Minerals in a research note on Monday, July 6th. Eleven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $31.33.

HudBay Minerals Price Performance

Shares of HudBay Minerals stock opened at $22.63 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.36 and a quick ratio of 1.20. HudBay Minerals Inc has a one year low of $8.93 and a one year high of $32.15. The business’s 50 day simple moving average is $24.91 and its two-hundred day simple moving average is $24.11. The stock has a market capitalization of $10.05 billion, a P/E ratio of 13.63, a price-to-earnings-growth ratio of 0.35 and a beta of 1.48.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last released its quarterly earnings data on Friday, May 1st. The mining company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.06. The firm had revenue of $757.30 million during the quarter, compared to analyst estimates of $684.73 million. HudBay Minerals had a return on equity of 10.04% and a net margin of 27.75%.The business’s quarterly revenue was up 27.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.24 earnings per share. Analysts forecast that HudBay Minerals Inc will post 1.6 EPS for the current year.

HudBay Minerals Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Tuesday, June 9th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Tuesday, June 9th. This represents a $0.04 annualized dividend and a yield of 0.2%. HudBay Minerals’s dividend payout ratio is presently 1.81%.

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.