Hillsdale Investment Management Inc. Decreases Holdings in HudBay Minerals Inc $HBM

Hillsdale Investment Management Inc. reduced its holdings in shares of HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) by 6.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 590,200 shares of the mining company’s stock after selling 38,400 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in HudBay Minerals were worth $12,356,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in HBM. Jones Financial Companies Lllp raised its holdings in HudBay Minerals by 131.6% during the first quarter. Jones Financial Companies Lllp now owns 6,570 shares of the mining company’s stock worth $50,000 after purchasing an additional 3,733 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of HudBay Minerals by 144.2% during the first quarter. Goldman Sachs Group Inc. now owns 7,281,095 shares of the mining company’s stock worth $55,264,000 after acquiring an additional 4,299,428 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of HudBay Minerals by 6.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 439,687 shares of the mining company’s stock worth $3,337,000 after acquiring an additional 27,944 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of HudBay Minerals by 7.4% in the 2nd quarter. Geode Capital Management LLC now owns 221,685 shares of the mining company’s stock valued at $2,363,000 after acquiring an additional 15,235 shares during the period. Finally, Creative Planning raised its position in HudBay Minerals by 5.4% in the 2nd quarter. Creative Planning now owns 25,067 shares of the mining company’s stock valued at $266,000 after purchasing an additional 1,289 shares during the last quarter. Hedge funds and other institutional investors own 57.82% of the company’s stock.

HudBay Minerals Stock Down 3.3%

HudBay Minerals stock opened at $20.92 on Tuesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.36 and a quick ratio of 1.20. HudBay Minerals Inc has a 1-year low of $8.93 and a 1-year high of $32.15. The company has a market cap of $9.29 billion, a PE ratio of 12.60, a price-to-earnings-growth ratio of 0.33 and a beta of 1.48. The stock’s 50 day moving average price is $25.46 and its 200 day moving average price is $23.99.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last announced its quarterly earnings data on Friday, May 1st. The mining company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.06. The firm had revenue of $757.30 million for 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 quarterly revenue was up 27.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.24 earnings per share. On average, sell-side analysts predict that HudBay Minerals Inc will post 1.58 EPS for the current fiscal year.

HudBay Minerals Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Tuesday, June 9th were paid a dividend of $0.01 per share. The ex-dividend date of this dividend was Tuesday, June 9th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.2%. HudBay Minerals’s dividend payout ratio is 1.81%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Wall Street Zen downgraded shares of HudBay Minerals from a “buy” rating to a “hold” rating in a research report on Sunday. Barclays started coverage on HudBay Minerals in a research report on Thursday, May 21st. They issued an “overweight” rating and a $30.00 price target on the stock. Bank of America lowered their target price on HudBay Minerals from $33.50 to $29.50 and set a “buy” rating on the stock in a research note on Thursday, July 9th. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of HudBay Minerals in a research note on Tuesday, April 21st. Finally, Scotiabank reaffirmed an “outperform” rating on shares of HudBay Minerals in a report on Thursday, June 25th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $30.67.

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.