Commonwealth Bank of Australia trimmed its stake in Hudbay Minerals Inc (NYSE:HBM) (TSE:HBM) by 49.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,202,251 shares of the mining company’s stock after selling 1,188,751 shares during the quarter. Commonwealth Bank of Australia owned 0.46% of Hudbay Minerals worth $6,711,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in the business. James Investment Research Inc. raised its stake in shares of Hudbay Minerals by 196.7% in the second quarter. James Investment Research Inc. now owns 424,906 shares of the mining company’s stock worth $2,380,000 after purchasing an additional 281,690 shares during the last quarter. Millennium Management LLC raised its stake in shares of Hudbay Minerals by 61.4% in the first quarter. Millennium Management LLC now owns 2,052,208 shares of the mining company’s stock worth $14,571,000 after purchasing an additional 780,379 shares during the last quarter. PCJ Investment Counsel Ltd. raised its stake in shares of Hudbay Minerals by 29.0% in the second quarter. PCJ Investment Counsel Ltd. now owns 88,331 shares of the mining company’s stock worth $492,000 after purchasing an additional 19,870 shares during the last quarter. Quadrature Capital Ltd purchased a new position in shares of Hudbay Minerals in the first quarter worth $921,000. Finally, Citigroup Inc. raised its stake in shares of Hudbay Minerals by 264.1% in the first quarter. Citigroup Inc. now owns 904,443 shares of the mining company’s stock worth $6,397,000 after purchasing an additional 656,004 shares during the last quarter. 58.06% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts have recently weighed in on the company. ValuEngine cut Hudbay Minerals from a “buy” rating to a “hold” rating in a research note on Saturday, May 26th. Zacks Investment Research upgraded Hudbay Minerals from a “sell” rating to a “hold” rating in a research note on Thursday, July 12th. Bank of America assumed coverage on Hudbay Minerals in a research note on Tuesday, August 14th. They issued a “neutral” rating and a $6.00 price target for the company. Finally, Scotiabank cut Hudbay Minerals from a “focus list” rating to an “outperform” rating in a research note on Monday, June 25th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the stock. Hudbay Minerals presently has a consensus rating of “Hold” and a consensus target price of $9.94.
HBM stock opened at $4.50 on Thursday. Hudbay Minerals Inc has a 1-year low of $4.35 and a 1-year high of $10.25. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.15 and a quick ratio of 1.70. The firm has a market capitalization of $1.23 billion, a PE ratio of 6.44 and a beta of 2.96.
Hudbay Minerals (NYSE:HBM) (TSE:HBM) last posted its quarterly earnings data on Tuesday, July 31st. The mining company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.04). The firm had revenue of $371.29 million for the quarter, compared to analysts’ expectations of $386.00 million. Hudbay Minerals had a net margin of 13.40% and a return on equity of 8.66%. research analysts anticipate that Hudbay Minerals Inc will post 0.4 EPS for the current fiscal year.
The company also recently disclosed a semiannual dividend, which will be paid on Friday, September 28th. Investors of record on Friday, September 7th will be given a dividend of $0.0077 per share. This represents a yield of 0.31%. The ex-dividend date is Thursday, September 6th. Hudbay Minerals’s dividend payout ratio (DPR) is presently 3.51%.
Hudbay Minerals Company Profile
Hudbay Minerals Inc, an integrated mining company, together with its subsidiaries, focuses on the discovery, production, and marketing of base and precious metals in North and South America. It produces copper concentrates containing copper, gold, and silver; and zinc metal. The company owns four polymetallic mines, four ore concentrators, and a zinc production facility in northern Manitoba and Saskatchewan, Canada, as well as in Cusco, Peru; and a copper project in Arizona, the United States.
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