Citadel Advisors LLC Sells 1,224,750 Shares of Hudbay Minerals Inc (NYSE:HBM)

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Citadel Advisors LLC cut its stake in Hudbay Minerals Inc (NYSE:HBM) (TSE:HBM) by 21.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,447,484 shares of the mining company’s stock after selling 1,224,750 shares during the quarter. Citadel Advisors LLC owned 1.70% of Hudbay Minerals worth $24,095,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. increased its stake in Hudbay Minerals by 0.4% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 887,464 shares of the mining company’s stock worth $4,815,000 after purchasing an additional 3,835 shares in the last quarter. Cubist Systematic Strategies LLC bought a new position in shares of Hudbay Minerals during the 2nd quarter worth approximately $73,000. Invesco Ltd. grew its stake in shares of Hudbay Minerals by 28.3% during the 2nd quarter. Invesco Ltd. now owns 63,947 shares of the mining company’s stock worth $346,000 after acquiring an additional 14,108 shares in the last quarter. Bank of Nova Scotia bought a new position in shares of Hudbay Minerals during the 2nd quarter worth approximately $77,000. Finally, Mackenzie Financial Corp grew its stake in shares of Hudbay Minerals by 1.3% during the 2nd quarter. Mackenzie Financial Corp now owns 1,380,137 shares of the mining company’s stock worth $7,467,000 after acquiring an additional 18,159 shares in the last quarter. 62.51% of the stock is owned by institutional investors.

Shares of HBM stock traded up $0.09 during mid-day trading on Friday, reaching $3.92. 1,042,876 shares of the stock traded hands, compared to its average volume of 622,806. The stock’s fifty day simple moving average is $3.46 and its two-hundred day simple moving average is $5.32. Hudbay Minerals Inc has a 1-year low of $2.99 and a 1-year high of $7.83. The company has a market cap of $1.02 billion, a price-to-earnings ratio of 10.05 and a beta of 3.05. The company has a quick ratio of 1.86, a current ratio of 2.31 and a debt-to-equity ratio of 0.48.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last released its quarterly earnings data on Thursday, August 8th. The mining company reported ($0.04) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.06 by ($0.10). The business had revenue of $329.40 million for the quarter, compared to analysts’ expectations of $310.63 million. Hudbay Minerals had a negative net margin of 3.61% and a positive return on equity of 1.51%. Hudbay Minerals’s revenue for the quarter was down 11.3% compared to the same quarter last year. During the same period last year, the company earned $0.09 earnings per share. On average, equities research analysts anticipate that Hudbay Minerals Inc will post -0.02 EPS for the current fiscal year.

The business also recently disclosed a Semi-Annual dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 6th will be paid a dividend of $0.008 per share. The ex-dividend date is Thursday, September 5th. Hudbay Minerals’s dividend payout ratio (DPR) is currently 5.13%.

Several equities analysts have recently weighed in on HBM shares. Credit Suisse Group decreased their price target on shares of Hudbay Minerals from $11.50 to $8.75 and set an “outperform” rating for the company in a research note on Tuesday, August 6th. TheStreet cut Hudbay Minerals from a “c” rating to a “d+” rating in a research report on Wednesday, May 29th. CIBC reiterated a “hold” rating and set a $5.00 price objective on shares of Hudbay Minerals in a research report on Friday, September 6th. ValuEngine upgraded Hudbay Minerals from a “sell” rating to a “hold” rating in a research report on Wednesday, July 17th. Finally, Barclays reiterated an “average” rating and set a $8.00 price objective on shares of Hudbay Minerals in a research report on Sunday, August 4th. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $7.55.

About Hudbay Minerals

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 three polymetallic mines, four ore concentrators, and a zinc production facility in northern Manitoba and Saskatchewan, Canada, as well as in Cusco, Peru; and copper projects in Arizona and Nevada, the United States.

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Institutional Ownership by Quarter for Hudbay Minerals (NYSE:HBM)

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