HudBay Minerals Inc $HBM Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. cut its stake in HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) by 8.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,861,247 shares of the mining company’s stock after selling 339,943 shares during the period. JPMorgan Chase & Co. owned approximately 0.97% of HudBay Minerals worth $58,537,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Quarry LP purchased a new stake in shares of HudBay Minerals during the 3rd quarter worth about $38,000. Global Retirement Partners LLC purchased a new position in HudBay Minerals in the third quarter valued at approximately $45,000. Banque Cantonale Vaudoise raised its holdings in HudBay Minerals by 513.5% in the third quarter. Banque Cantonale Vaudoise now owns 3,172 shares of the mining company’s stock valued at $48,000 after buying an additional 2,655 shares during the period. Jones Financial Companies Lllp lifted its position 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 valued at $50,000 after buying an additional 3,733 shares in the last quarter. Finally, Kelleher Financial Advisors acquired a new position in HudBay Minerals during the third quarter valued at approximately $67,000. 57.82% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

HBM has been the topic of a number of research reports. Scotiabank reissued an “outperform” rating on shares of HudBay Minerals in a research note on Monday, January 26th. Zacks Research downgraded HudBay Minerals from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 17th. Citigroup raised their price objective on HudBay Minerals from $23.00 to $32.50 and gave the company a “buy” rating in a research report on Wednesday, February 11th. National Bank Financial cut HudBay Minerals from an “outperform” rating to a “sector perform” rating in a research note on Wednesday, January 28th. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of HudBay Minerals in a research report on Sunday, December 7th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $26.00.

HudBay Minerals Price Performance

Shares of NYSE HBM opened at $18.65 on Friday. HudBay Minerals Inc has a fifty-two week low of $5.95 and a fifty-two week high of $28.74. The business has a 50 day moving average price of $24.30 and a two-hundred day moving average price of $19.14. The company has a quick ratio of 0.78, a current ratio of 0.95 and a debt-to-equity ratio of 0.18. The firm has a market cap of $7.40 billion, a PE ratio of 13.04, a price-to-earnings-growth ratio of 0.27 and a beta of 1.27.

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

HudBay Minerals Dividend Announcement

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

HudBay Minerals 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.