HudBay Minerals Inc $HBM Shares Sold by Artemis Investment Management LLP

Artemis Investment Management LLP cut its position in shares of HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) by 44.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,583,887 shares of the mining company’s stock after selling 1,268,059 shares during the quarter. Artemis Investment Management LLP owned 0.36% of HudBay Minerals worth $42,339,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of HBM. Acasta Partners UK LLP increased its stake in HudBay Minerals by 75.7% in the third quarter. Acasta Partners UK LLP now owns 197,352 shares of the mining company’s stock valued at $5,270,000 after acquiring an additional 85,000 shares during the period. Bullseye Investment Management LLC acquired a new stake in HudBay Minerals during the second quarter valued at approximately $30,000. Integrated Wealth Concepts LLC acquired a new stake in HudBay Minerals during the second quarter valued at approximately $36,000. NewEdge Advisors LLC grew its stake in shares of HudBay Minerals by 39.9% in the 2nd quarter. NewEdge Advisors LLC now owns 38,471 shares of the mining company’s stock valued at $908,000 after purchasing an additional 10,969 shares during the period. Finally, Spark Investment Management LLC acquired a new position in shares of HudBay Minerals in the 2nd quarter worth approximately $212,000. Institutional investors own 57.82% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Citigroup reaffirmed a “positive” rating on shares of HudBay Minerals in a research note on Wednesday, July 15th. Barclays reiterated an “overweight” rating on shares of HudBay Minerals in a research note on Tuesday. Weiss Ratings cut HudBay Minerals from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, August 13th. Bank of America reduced their target price on shares of HudBay Minerals from $33.50 to $29.50 and set a “buy” rating on the stock in a research note on Thursday, July 9th. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of HudBay Minerals in a report on Monday, July 6th. Ten equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $31.33.

HudBay Minerals Price Performance

HudBay Minerals stock traded down $0.75 on Thursday, reaching $25.12. The company’s stock had a trading volume of 2,112,435 shares, compared to its average volume of 5,463,125. The business’s fifty day moving average price is $27.08 and its 200 day moving average price is $25.12. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.93 and a current ratio of 2.24. The company has a market cap of $11.16 billion, a price-to-earnings ratio of 14.79, a PEG ratio of 0.45 and a beta of 1.58. HudBay Minerals Inc has a twelve month low of $14.34 and a twelve month high of $32.15.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last released its quarterly earnings results on Wednesday, July 29th. The mining company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.02. The business 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%.The firm’s revenue for the quarter was up 17.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.19 earnings per share. Equities analysts expect that HudBay Minerals Inc will post 1.43 earnings per share for the current fiscal year.

HudBay Minerals Announces Dividend

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

HudBay Minerals Company Profile

Hudbay Minerals Inc is a Canadian mining company focused primarily on the exploration, development, and operation of copper, zinc, gold, silver, and molybdenum deposits. The company’s products are used in infrastructure, manufacturing, technology, and energy-related applications. Hudbay is listed on the New York Stock Exchange and the Toronto Stock Exchange under the symbol HBM.

Hudbay operates mining and processing assets in Canada and Peru. Its Manitoba operations include the Lalor polymetallic mine and processing facilities in the Snow Lake region, which produce zinc, copper, gold, and silver.