Tidal Investments LLC Sells 52,050 Shares of HudBay Minerals Inc $HBM

Tidal Investments LLC lessened its stake in HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) by 14.3% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 311,166 shares of the mining company’s stock after selling 52,050 shares during the quarter. Tidal Investments LLC owned 0.07% of HudBay Minerals worth $7,247,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Quantinno Capital Management LP raised its holdings in shares of HudBay Minerals by 6.0% during the first quarter. Quantinno Capital Management LP now owns 11,597 shares of the mining company’s stock worth $242,000 after acquiring an additional 657 shares during the period. Vontobel Holding Ltd. boosted its stake in HudBay Minerals by 0.6% in the 4th quarter. Vontobel Holding Ltd. now owns 126,090 shares of the mining company’s stock worth $2,503,000 after purchasing an additional 738 shares during the period. Rockefeller Capital Management L.P. boosted its stake in HudBay Minerals by 25.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 4,933 shares of the mining company’s stock worth $98,000 after purchasing an additional 986 shares during the period. Wealthcare Advisory Partners LLC boosted its stake in HudBay Minerals by 2.7% in the 2nd quarter. Wealthcare Advisory Partners LLC now owns 37,766 shares of the mining company’s stock worth $892,000 after purchasing an additional 992 shares during the period. Finally, Allworth Financial LP increased its holdings in HudBay Minerals by 107.9% during the 3rd quarter. Allworth Financial LP now owns 1,990 shares of the mining company’s stock worth $30,000 after purchasing an additional 1,033 shares in the last quarter. Institutional investors and hedge funds own 57.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on HBM. Jefferies Financial Group reissued a “buy” rating on shares of HudBay Minerals in a research note on Monday, July 6th. Bank of America reduced their price objective on HudBay Minerals from $33.50 to $29.50 and set a “buy” rating for the company in a research report on Thursday, July 9th. Weiss Ratings downgraded HudBay Minerals from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, August 13th. Citigroup reissued a “positive” rating on shares of HudBay Minerals in a research report on Wednesday, July 15th. Finally, Barclays boosted their target price on HudBay Minerals from $30.00 to $32.00 and gave the company an “overweight” rating in a research note on Wednesday, July 15th. Ten equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, HudBay Minerals has an average rating of “Moderate Buy” and a consensus target price of $31.33.

HudBay Minerals Trading Down 0.6%

Shares of NYSE:HBM opened at $26.48 on Friday. The company’s 50-day moving average price is $25.40 and its two-hundred day moving average price is $24.75. HudBay Minerals Inc has a one year low of $13.00 and a one year high of $32.15. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.24 and a quick ratio of 1.93. The stock has a market capitalization of $11.76 billion, a PE ratio of 15.58, a price-to-earnings-growth ratio of 0.43 and a beta of 1.54.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last announced its quarterly earnings data 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. The company had revenue of $631.30 million during the quarter, compared to analysts’ expectations of $632.43 million. HudBay Minerals had a return on equity of 9.47% and a net margin of 27.48%.HudBay Minerals’s revenue for the quarter was up 17.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.19 EPS. On average, equities analysts forecast that HudBay Minerals Inc will post 1.48 EPS for the current fiscal year.

HudBay Minerals Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Tuesday, September 8th will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date is Tuesday, September 8th. HudBay Minerals’s dividend payout ratio (DPR) is currently 1.76%.

About HudBay Minerals

Hudbay Minerals Inc is a Canadian mining company focused primarily on the exploration, development and operation of copper assets. The company also produces gold, zinc, silver and molybdenum as byproducts or additional products from its mining operations.

Hudbay operates the Constancia open-pit copper-molybdenum mine in southern Peru, along with the nearby Pampacancha satellite deposit. In Manitoba, Canada, the company operates the Lalor polymetallic mine and the Snow Lake processing facilities, which produce copper, zinc, gold and silver.