Walleye Capital LLC Sells 75,409 Shares of HudBay Minerals Inc $HBM

Walleye Capital LLC lessened its holdings in shares of HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) by 53.4% during the first quarter, Holdings Channel reports. The firm owned 65,885 shares of the mining company’s stock after selling 75,409 shares during the quarter. Walleye Capital LLC’s holdings in HudBay Minerals were worth $1,377,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. FIL Ltd grew its position in shares of HudBay Minerals by 202.0% in the 4th quarter. FIL Ltd now owns 33,143,172 shares of the mining company’s stock worth $658,010,000 after buying an additional 22,169,339 shares during the last quarter. Invesco Ltd. raised its holdings in shares of HudBay Minerals by 0.4% during the third quarter. Invesco Ltd. now owns 11,391,356 shares of the mining company’s stock valued at $172,693,000 after acquiring an additional 46,948 shares in the last quarter. Mackenzie Financial Corp raised its holdings in shares of HudBay Minerals by 116.1% during the fourth quarter. Mackenzie Financial Corp now owns 10,178,626 shares of the mining company’s stock valued at $202,327,000 after acquiring an additional 5,468,109 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in HudBay Minerals by 15.8% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 9,457,298 shares of the mining company’s stock worth $187,743,000 after acquiring an additional 1,293,023 shares during the period. Finally, Bank of Nova Scotia lifted its stake in HudBay Minerals by 79.2% in the fourth quarter. Bank of Nova Scotia now owns 7,659,783 shares of the mining company’s stock worth $152,047,000 after acquiring an additional 3,386,399 shares during the period. Institutional investors own 57.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on HBM. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of HudBay Minerals in a report on Tuesday, April 21st. Wall Street Zen upgraded shares of HudBay Minerals from a “hold” rating to a “buy” rating in a report on Monday. Barclays raised their target price on shares of HudBay Minerals from $30.00 to $32.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 15th. Citigroup reaffirmed a “positive” rating on shares of HudBay Minerals in a research note on Wednesday, July 15th. Finally, Scotiabank reiterated an “outperform” rating on shares of HudBay Minerals in a research report on Thursday, June 25th. Eleven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $31.33.

HudBay Minerals Trading Down 3.9%

NYSE HBM opened at $22.63 on Friday. The company has a quick ratio of 1.20, a current ratio of 1.36 and a debt-to-equity ratio of 0.14. HudBay Minerals Inc has a twelve month low of $8.93 and a twelve month high of $32.15. The firm has a market capitalization of $10.05 billion, a PE ratio of 13.63, a P/E/G ratio of 0.35 and a beta of 1.48. The stock’s 50 day moving average is $24.91 and its 200 day moving average is $24.11.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last posted its quarterly earnings data on Friday, May 1st. The mining company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.06. The business had revenue of $757.30 million during the quarter, compared to the consensus estimate of $684.73 million. HudBay Minerals had a return on equity of 10.04% and a net margin of 27.75%.The firm’s quarterly revenue was up 27.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.24 earnings per share. Research analysts forecast that HudBay Minerals Inc will post 1.6 earnings per share for the current fiscal year.

HudBay Minerals Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Tuesday, June 9th were paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.2%. The ex-dividend date was Tuesday, June 9th. HudBay Minerals’s dividend payout ratio (DPR) is presently 1.81%.

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.