Sumitomo Mitsui Trust Group Inc. Has $1.50 Million Holdings in HudBay Minerals Inc $HBM

Sumitomo Mitsui Trust Group Inc. lessened its stake in shares of HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) by 29.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 71,661 shares of the mining company’s stock after selling 30,058 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in HudBay Minerals were worth $1,498,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Allworth Financial LP lifted its holdings in shares of HudBay Minerals by 107.9% during the third 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 period. Quarry LP acquired a new stake in shares of HudBay Minerals during the 3rd quarter worth about $38,000. IFP Advisors Inc bought a new position in HudBay Minerals during the 3rd quarter valued at about $45,000. Banque Cantonale Vaudoise lifted its holdings in HudBay Minerals by 513.5% during the 3rd 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 during the last quarter. Finally, Jones Financial Companies Lllp boosted its position in HudBay Minerals by 131.6% in 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. Institutional investors and hedge funds own 57.82% of the company’s stock.

HudBay Minerals Trading Down 2.3%

HBM opened at $21.97 on Thursday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.36 and a quick ratio of 1.20. The company has a market cap of $9.76 billion, a price-to-earnings ratio of 13.24, a price-to-earnings-growth ratio of 0.33 and a beta of 1.48. The firm has a 50 day simple moving average of $25.42 and a 200 day simple moving average of $24.03. HudBay Minerals Inc has a fifty-two week low of $8.93 and a fifty-two week high of $32.15.

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 (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 firm had revenue of $757.30 million for the quarter, compared to analysts’ expectations of $684.73 million. During the same period last year, the firm earned $0.24 earnings per share. The business’s revenue for the quarter was up 27.3% on a year-over-year basis. On average, sell-side analysts anticipate that HudBay Minerals Inc will post 1.61 earnings per share for the current 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 $0.01 dividend. 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%.

Analysts Set New Price Targets

Several analysts have recently weighed in on HBM shares. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of HudBay Minerals in a report on Tuesday, April 21st. Weiss Ratings upgraded HudBay Minerals from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, June 29th. Jefferies Financial Group reaffirmed a “buy” rating on shares of HudBay Minerals in a report on Monday, July 6th. Bank of America cut their price objective on HudBay Minerals from $33.50 to $29.50 and set a “buy” rating for the company in a research report on Thursday, July 9th. Finally, Wall Street Zen lowered HudBay Minerals from a “buy” rating to a “hold” rating in a research note on Sunday. Eleven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, HudBay Minerals currently has an average rating of “Moderate Buy” and an average price target of $31.33.

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.