HudBay Minerals Inc $HBM Stock Holdings Trimmed by Polar Asset Management Partners Inc.

Polar Asset Management Partners Inc. lowered its position in shares of HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) by 73.7% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 50,000 shares of the mining company’s stock after selling 140,000 shares during the quarter. Polar Asset Management Partners Inc.’s holdings in HudBay Minerals were worth $757,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Triasima Portfolio Management inc. acquired a new stake in shares of HudBay Minerals during the 3rd quarter valued at approximately $8,057,000. Picton Mahoney Asset Management boosted its holdings 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 purchasing an additional 537,964 shares during the period. Campbell & CO Investment Adviser LLC acquired a new position in HudBay Minerals in the third quarter worth $1,454,000. Bank of Nova Scotia increased its stake in HudBay Minerals by 662.0% during the third quarter. Bank of Nova Scotia now owns 4,273,384 shares of the mining company’s stock valued at $64,783,000 after purchasing an additional 3,712,572 shares during the last quarter. Finally, Precision Wealth Strategies LLC bought a new stake in HudBay Minerals during the third quarter valued at $855,000. Institutional investors own 57.82% of the company’s stock.

HudBay Minerals Trading Down 3.2%

Shares of NYSE:HBM opened at $18.05 on Friday. The company has a 50 day moving average of $24.23 and a 200-day moving average of $19.18. The company has a current ratio of 0.95, a quick ratio of 0.78 and a debt-to-equity ratio of 0.18. The firm has a market cap of $7.16 billion, a P/E ratio of 12.62, a P/E/G ratio of 0.25 and a beta of 1.27. HudBay Minerals Inc has a twelve month low of $5.95 and a twelve month high of $28.74.

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

HudBay Minerals Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on HBM shares. Jefferies Financial Group restated a “buy” rating on shares of HudBay Minerals in a research report on Sunday, December 7th. Weiss Ratings raised shares of HudBay Minerals from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, February 10th. Zacks Research lowered shares of HudBay Minerals from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 17th. UBS Group initiated coverage on shares of HudBay Minerals in a report on Thursday, January 8th. They issued a “buy” rating on the stock. Finally, Raymond James Financial restated an “outperform” rating on shares of HudBay Minerals in a research note on Wednesday, January 14th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $26.00.

HudBay Minerals Company 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.