Moore Capital Management LP Sells 503,272 Shares of HudBay Minerals Inc $HBM

Moore Capital Management LP trimmed its position in shares of HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) by 39.2% during the 4th quarter, HoldingsChannel.com reports. The fund owned 782,099 shares of the mining company’s stock after selling 503,272 shares during the period. Moore Capital Management LP’s holdings in HudBay Minerals were worth $15,529,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Allworth Financial LP raised its stake in HudBay Minerals by 107.9% during the third quarter. Allworth Financial LP now owns 1,990 shares of the mining company’s stock valued at $30,000 after buying an additional 1,033 shares during the last quarter. Quarry LP purchased a new position in HudBay Minerals during the third quarter valued at $38,000. IFP Advisors Inc bought a new position in HudBay Minerals in the 3rd quarter valued at approximately $45,000. Banque Cantonale Vaudoise lifted its position in HudBay Minerals by 513.5% in the 3rd quarter. Banque Cantonale Vaudoise now owns 3,172 shares of the mining company’s stock valued at $48,000 after acquiring an additional 2,655 shares in the last quarter. Finally, Jones Financial Companies Lllp lifted its position in HudBay Minerals by 131.6% in the 1st quarter. Jones Financial Companies Lllp now owns 6,570 shares of the mining company’s stock valued at $50,000 after acquiring an additional 3,733 shares in the last quarter. 57.82% of the stock is owned by institutional investors.

HudBay Minerals Price Performance

NYSE HBM opened at $28.12 on Thursday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.36 and a quick ratio of 1.20. The stock has a market capitalization of $11.17 billion, a price-to-earnings ratio of 16.94, a PEG ratio of 0.34 and a beta of 1.43. HudBay Minerals Inc has a 1-year low of $8.93 and a 1-year high of $32.15. The business’s fifty day moving average price is $25.68 and its 200-day moving average price is $23.32.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last posted its quarterly earnings data on Friday, May 1st. The mining company reported $0.40 EPS for the quarter, topping the consensus estimate 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%.HudBay Minerals’s revenue was up 27.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.24 EPS. On average, equities analysts predict that HudBay Minerals Inc will post 1.66 earnings per share for the current year.

HudBay Minerals Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Tuesday, June 9th will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.1%. The ex-dividend date is Tuesday, June 9th. HudBay Minerals’s dividend payout ratio is 1.81%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on HBM. Barclays began coverage on HudBay Minerals in a research report on Thursday, May 21st. They issued an “overweight” rating and a $30.00 price objective on the stock. Weiss Ratings cut HudBay Minerals from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, June 8th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of HudBay Minerals in a research report on Tuesday, April 21st. Finally, Wall Street Zen raised HudBay Minerals from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, HudBay Minerals currently has an average rating of “Buy” and a consensus target price of $27.33.

About HudBay Minerals

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.