Lazard Asset Management LLC Sells 81,418 Shares of HudBay Minerals Inc $HBM

Lazard Asset Management LLC reduced its position in HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) by 48.3% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 87,008 shares of the mining company’s stock after selling 81,418 shares during the quarter. Lazard Asset Management LLC’s holdings in HudBay Minerals were worth $1,822,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Themes Management Co LLC acquired a new stake in HudBay Minerals in the first quarter valued at approximately $232,000. Public Employees Retirement System of Ohio boosted its holdings in shares of HudBay Minerals by 9.9% during the 1st quarter. Public Employees Retirement System of Ohio now owns 786,244 shares of the mining company’s stock valued at $16,408,000 after acquiring an additional 70,814 shares in the last quarter. Sei Investments Co. grew its position in HudBay Minerals by 5.5% during the 1st quarter. Sei Investments Co. now owns 37,517 shares of the mining company’s stock worth $784,000 after acquiring an additional 1,956 shares during the last quarter. First Trust Advisors LP grew its position in HudBay Minerals by 35.3% during the 1st quarter. First Trust Advisors LP now owns 229,948 shares of the mining company’s stock worth $4,814,000 after acquiring an additional 60,025 shares during the last quarter. Finally, Barometer Capital Management Inc. increased its holdings in HudBay Minerals by 259.0% in the 1st quarter. Barometer Capital Management Inc. now owns 33,750 shares of the mining company’s stock worth $705,000 after purchasing an additional 24,350 shares in the last quarter. Institutional investors own 57.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on HBM shares. Jefferies Financial Group reissued a “buy” rating on shares of HudBay Minerals in a research note on Monday, July 6th. Wall Street Zen downgraded HudBay Minerals from a “buy” rating to a “hold” rating in a research note on Saturday. Bank of America dropped their price objective on shares of HudBay Minerals from $33.50 to $29.50 and set a “buy” rating for the company in a report on Thursday, July 9th. Scotiabank reiterated an “outperform” rating on shares of HudBay Minerals in a research report on Thursday. Finally, Barclays boosted their target price on shares of HudBay Minerals from $30.00 to $32.00 and gave the stock an “overweight” rating in a report on Wednesday, July 15th. Eleven research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, HudBay Minerals currently has an average rating of “Moderate Buy” and an average price target of $31.33.

HudBay Minerals Stock Performance

Shares of HBM opened at $23.41 on Tuesday. The company has a current ratio of 2.24, a quick ratio of 1.93 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $10.40 billion, a P/E ratio of 13.77, a price-to-earnings-growth ratio of 0.35 and a beta of 1.48. The firm’s fifty day simple moving average is $24.63 and its two-hundred day simple moving average is $24.15. HudBay Minerals Inc has a 12 month low of $9.04 and a 12 month high of $32.15.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last posted its quarterly earnings data on Wednesday, July 29th. The mining company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.02. HudBay Minerals had a return on equity of 9.47% and a net margin of 27.48%.The firm had revenue of $631.30 million during the quarter, compared to analyst estimates of $632.43 million. During the same period last year, the company posted $0.19 EPS. The business’s quarterly revenue was up 17.7% on a year-over-year basis. As a group, analysts predict that HudBay Minerals Inc will post 1.55 EPS for the current year.

HudBay Minerals Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Tuesday, September 8th will be paid a dividend of $0.01 per share. The ex-dividend date of this dividend is Tuesday, September 8th. This represents a $0.04 annualized dividend and a yield of 0.2%. HudBay Minerals’s dividend payout ratio (DPR) is currently 1.18%.

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.