Mountaineer Partners Management LLC Reduces Stake in HudBay Minerals Inc $HBM

Mountaineer Partners Management LLC decreased its holdings in shares of HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) by 15.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 955,419 shares of the mining company’s stock after selling 169,013 shares during the period. HudBay Minerals makes up 8.4% of Mountaineer Partners Management LLC’s portfolio, making the stock its 3rd biggest holding. Mountaineer Partners Management LLC owned 0.24% of HudBay Minerals worth $14,484,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Triasima Portfolio Management inc. bought a new stake in shares of HudBay Minerals in the 3rd quarter worth approximately $8,057,000. Campbell & CO Investment Adviser LLC bought a new stake in HudBay Minerals during the third quarter worth approximately $1,454,000. Picton Mahoney Asset Management grew its position in HudBay Minerals by 9.3% in the third quarter. Picton Mahoney Asset Management now owns 6,350,482 shares of the mining company’s stock worth $96,171,000 after buying an additional 537,964 shares during the last quarter. L1 Capital Pty Ltd grew its position in HudBay Minerals by 4.4% in the second quarter. L1 Capital Pty Ltd now owns 15,054,087 shares of the mining company’s stock worth $159,864,000 after buying an additional 630,703 shares during the last quarter. Finally, Precision Wealth Strategies LLC bought a new position in shares of HudBay Minerals in the third quarter valued at $855,000. Institutional investors and hedge funds own 57.82% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on HBM shares. Citigroup increased their price objective on HudBay Minerals from $23.00 to $32.50 and gave the company a “buy” rating in a research report on Wednesday, February 11th. National Bank Financial cut HudBay Minerals from an “outperform” rating to a “sector perform” rating in a report on Wednesday, January 28th. Weiss Ratings raised HudBay Minerals from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, February 10th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of HudBay Minerals in a report on Thursday, January 15th. Finally, UBS Group started coverage on HudBay Minerals in a research report on Thursday, January 8th. They issued a “buy” rating for the company. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, HudBay Minerals presently has an average rating of “Buy” and a consensus target price of $26.00.

HudBay Minerals Stock Up 1.9%

Shares of NYSE:HBM opened at $21.12 on Tuesday. The firm has a 50 day simple moving average of $24.38 and a 200 day simple moving average of $19.07. HudBay Minerals Inc has a 52 week low of $5.95 and a 52 week high of $28.74. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.78 and a current ratio of 0.95. The company has a market cap of $8.38 billion, a PE ratio of 14.77, a price-to-earnings-growth ratio of 0.28 and a beta of 1.27.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last posted its quarterly earnings data on Friday, February 20th. The mining company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.18). HudBay Minerals had a return on equity of 8.91% and a net margin of 25.71%.The firm had revenue of $732.90 million for the quarter, compared to analysts’ expectations of $730.13 million. During the same quarter in the previous year, the firm posted $0.18 earnings per share. The company’s revenue for the quarter was up 25.3% on a year-over-year basis. As a group, research analysts expect that HudBay Minerals Inc will post 0.79 earnings per share for the current year.

HudBay Minerals Announces Dividend

The firm also recently announced a dividend, which will be paid on Friday, March 27th. Stockholders of record on Tuesday, March 10th will be given a $0.01 dividend. This represents a dividend yield of 9.0%. The ex-dividend date of this dividend is Tuesday, March 10th. HudBay Minerals’s dividend payout ratio (DPR) is 0.70%.

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.