K.J. Harrison & Partners Inc Sells 35,700 Shares of HudBay Minerals Inc $HBM

K.J. Harrison & Partners Inc decreased its stake in HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) by 39.4% in the 1st quarter, Holdings Channel.com reports. The firm owned 54,900 shares of the mining company’s stock after selling 35,700 shares during the quarter. K.J. Harrison & Partners Inc’s holdings in HudBay Minerals were worth $1,147,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Allworth Financial LP lifted its stake in shares of HudBay Minerals by 107.9% in the 3rd quarter. Allworth Financial LP now owns 1,990 shares of the mining company’s stock valued at $30,000 after acquiring an additional 1,033 shares during the last quarter. Quarry LP bought a new position in HudBay Minerals in the third quarter valued at about $38,000. IFP Advisors Inc bought a new position in HudBay Minerals in the third quarter valued at about $45,000. Banque Cantonale Vaudoise boosted its stake in shares of HudBay Minerals by 513.5% during the third quarter. Banque Cantonale Vaudoise now owns 3,172 shares of the mining company’s stock valued at $48,000 after purchasing an additional 2,655 shares in the last quarter. Finally, Jones Financial Companies Lllp boosted its stake in shares of 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 purchasing an additional 3,733 shares in the last quarter. Institutional investors and hedge funds own 57.82% of the company’s stock.

HudBay Minerals Stock Down 0.1%

Shares of NYSE HBM opened at $22.57 on Friday. The company has a market capitalization of $10.03 billion, a P/E ratio of 13.60, a price-to-earnings-growth ratio of 0.26 and a beta of 1.48. HudBay Minerals Inc has a 52-week low of $8.93 and a 52-week high of $32.15. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.20 and a current ratio of 1.36. The company’s 50 day moving average price is $25.69 and its 200-day moving average price is $23.86.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last posted its quarterly earnings data on Friday, May 1st. The mining company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.06. HudBay Minerals had a net margin of 27.75% and a return on equity of 10.04%. The company had revenue of $757.30 million for the quarter, compared to analyst estimates of $684.73 million. During the same period in the prior year, the firm posted $0.24 EPS. The company’s quarterly revenue was up 27.3% on a year-over-year basis. Equities analysts forecast that HudBay Minerals Inc will post 1.65 earnings per share for the current year.

HudBay Minerals Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on HBM shares. Weiss Ratings upgraded shares of HudBay Minerals from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, June 29th. Wall Street Zen upgraded shares of HudBay Minerals from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Scotiabank reaffirmed an “outperform” rating on shares of HudBay Minerals in a research note on Thursday, June 25th. Barclays initiated coverage on shares of HudBay Minerals in a report on Thursday, May 21st. They set an “overweight” rating and a $30.00 price target on the stock. Finally, Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of HudBay Minerals in a research note on Tuesday, April 21st. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, HudBay Minerals currently has an average rating of “Buy” and an average target price of $27.33.

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.